Purchase under the Housing Developers’ Rules for uncompleted condo projects purchased directly from developer:
- You will first need to pay a booking fee which is 5% of the purchase price for the exchange of the Option to Purchase.
- Within 14 days after the buyer has paid the booking fee, Developer will deliver the Sale and Purchase Agreement and title deeds of the Property to the buyer or the buyer lawyer.
- Buyers have to sign all the execution copies of the Sale and Purchase Agreement and return to developer within 3 weeks from the date of the delivery to the buyers.
- Buyers who exercises this Option shall pay the developer being 15% of the Purchase Price by 8th week after the date of this Option.
- The buyer has to pay Buyer Stamp Duty and Additional Buyer Stamp Duty (if applicable) to the Inland Revenue of Singapore within 14 days of signing the Sale & Purchase Agreement.
- If the buyer does not exercise this Option before it expires, Developer will forfeit 25% of the Booking Fee and refund the balance 75% of the Booking Fee.