|
Stage |
Payment under a standard payment scheme ( % of purchase price ) |
| Upon the grant of Option to Purchase |
5% – 10% (booking fee) |
| Upon signing of the Sale & Purchase Agreement or within 9 weeks from the Option date |
20% less booking fee |
| Completion of foundation work |
10% |
| Completion of reinforced concrete framework of unit |
10% |
| Completion of partition walls of unit |
5% |
| Completion of roofing/ceiling of unit |
5% |
| Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit |
5% |
| Completion of car park, roads and drains serving the housing project |
5% |
| Temporary Occupation Permit or Certificate of Statutory Completion |
25% |
| On completion date |
15% |
For EC, apart from the Normal Payment Scheme, there is another option of the Payment Schedule called Deferred Payment Scheme. In this case, after the 20% downpayment is done, the purchaser only start the monthly installment payment after TOP. If you currently own a HDB Flat, you have to dispose it before TOP or paid up the outstanding loan, if any, and dispose the flat within 6 months after TOP for the purpose of getting an 80% loan. A banker will be arranged to explain the details beforehand. Usually, the purchase price will be slightly higher (eg. 3% more) than the Normal Progressive Payment Scheme.
|
Stage |
Payment under a standard payment scheme ( % of purchase price ) |
| Upon the grant of Option to Purchase |
5% – 10% (booking fee) |
| Upon signing of the Sale & Purchase Agreement or within 9 weeks from the Option date |
20% less booking fee |
| Temporary Occupation Permit or Certificate of Statutory Completion |
65% |
| On completion date |
15% |
