Here’s an overview of the payment schedule:
5% booking fee – Cash accepted only (payable upon signing of OTP on booking date)
Stamp Duties payable (BSD/ABSD if applicable) – approximately 6-8 weeks from booking date
next 20% (could be more, depending on project status) – Cash or CPF can be accepted (payable upon S&P completion) – approximately 8 weeks from booking date
The remaining payment will be called for progressively as the development is under construction. The payment is usually serviced by bank loan and can be made in Cash or CPF.
To smoothen the purchasing process, one key advice I always have for clients is to speak to a financial banker to obtain an Approval In-Principal (AIP). I can help you understand the process better, feel free to contact me.
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