Asked by Anonymous
Hi. For a new private property, which is having a Progressive Payment Scheme, I would like to know the amount that I need to pay in the scenario here:
Roughly, the payment schedule is:
Stage 1 - 10% - $700 per month
Stage 2 - 10% - $1300 per month
Stage 3 - 10% - $1600 per month
Stage 4 - 5% - $2000 per month
Stage 5 - 5% - $2300 per month
Stage 6 - 5% - $2700 per month
TOP - 20% - $4500 per month
Completion - 20% - $5100 per month
Assuming the project is still at stage 1, my question is how much will I need to pay if I want to buy the property at stage 5 (~3 years later)? Do I start to pay using the $2300 per month from stage 5, or do I have to pay the full amount for stages 1 to 4 first then following by stage 5?
Thanks in advance for your time and answers.
Steve
Roughly, the payment schedule is:
Stage 1 - 10% - $700 per month
Stage 2 - 10% - $1300 per month
Stage 3 - 10% - $1600 per month
Stage 4 - 5% - $2000 per month
Stage 5 - 5% - $2300 per month
Stage 6 - 5% - $2700 per month
TOP - 20% - $4500 per month
Completion - 20% - $5100 per month
Assuming the project is still at stage 1, my question is how much will I need to pay if I want to buy the property at stage 5 (~3 years later)? Do I start to pay using the $2300 per month from stage 5, or do I have to pay the full amount for stages 1 to 4 first then following by stage 5?
Thanks in advance for your time and answers.
Steve
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