You have already covered the first step by paying the 1% option fee on 17 Jan 2026. Next:
• Exercise the Option: You have 2 weeks (until around 31 Jan 2026) to exercise the option. If you do not do so, the 1% option fee is forfeited.
• Pay Remaining 4%: Upon exercising the option, pay the remaining 4% of the purchase price (making up a total of 5%).
• Legal Completion: Expect completion to take around 10 to 12 weeks from the date of exercise.