• Securing Option to Buy

The new designer usually anticipate you to pay a good 5% reservation commission, and that will be in bucks, in order to hold the Choice to Buy or OTP. Next, the developer will provide you with new Sale & Buy Agreement within this 14 days.

Product sales and buy Agreement (S&P) usually expire step 3 days throughout the big date of your own Agreement. So, it should be resolved during the time frame from the laws enterprise. This is actually the several months for which you need determine whether your need certainly to go-ahead into purchase.

When the isnt resolved during this time period, 25% of the 5% booking fee might be forfeited because of the developer. With the rest of 75% of one’s 5% booking fee would-be came back back.

• Stamp Commitments, Off Costs plus

While the S&P is actually signed, you ought to pay a 15% downpayment towards assets. So, altogether, you might be paying 20% of one’s price up until the modern commission starts.

Into the remaining 5% of overall down payment of twenty five%, it can be paid off possibly owing to cash as well as CPF Typical Membership because designer require the original payment in normal modern program.Continue reading →