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Procedures For Buying A New Launch

I'm here to walk through with you the steps required before every new launch purchase.

It may seem daunting, but I got you.

Enjoy this step-by-step guide!

Getting Ready

(new launch projects)

Step 1:
Buyer shows interest by signing an Expression of Interest (EOI) Form and submitting a cheque (crossed and made payable to developer's project account) to select and purchase a unit on Booking Day. (Not to worry, cheque will be returned if the buyer decides not to proceed with the purchase, with no penalties)

 

Step 2:
If successful on securing a unit, the Buyer will sign the Customer Particulars, Documents and Information (PDI Form 3), along with a cheque/ cashier's order of 5% booking fee, NRIC/passport copy and any other required forms by the developer before they receive their Option To Purchase (OTP) 

Step 3:
Within 2 weeks from the OTP date, the Buyer or appointed lawyer will receive their Sales & Purchase Agreement (S&P) and a copy of the Title Deed form from the developer's lawyer.
 

Step 4: 
Within 3 weeks of receiving the S&P, the Buyer will exercise the OTP by signing the S&P and returned the signed copies to the developer's lawyer.

 

Step 5:

Within 2 weeks after signing the S&P, the Buyer will be required to pay any stamp duties/ taxes to IRAS 

 

Step 6:

Within 8 weeks from the OTP date, the Buyer will pay the remaining downpayment of 15% and other progressive payments that are due.

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Wait a minute - 

What about for a Building Under Construction (BUC)?

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