AskGuru Q&A Community

Hi Nicholas,

Twin Fountains @ Woodlands is an Executive Condominium and carries with it HDB eligibility criterias.

As per any condominium project, you will need to put down a 5% booking fee in cash when you select a unit. The next 15% of the deposit is payable by CPF. There are 2 payment schemes avaliable, the Normal Progressive Payment Scheme (NPS) and the Deferred Payment Scheme(DPS). Under NPS, you will for your installments the moment the bank disburses monies for the projects while under DPS, installment payment will only start after TOP. DPS however usually comes at a 2% premium in purchase price.

As this project is an EC, you will need to meet eligibility criterias. Based on what you provided as background info, you will be eligible to purchase with your partner. However, because your name is in the current flat with your parents, there may be some administrative procedures you will need to do before you can purchase the EC. Also, you may be considered a 2nd timer. You can remove your name from your current flat(subject to approvals and fulfillment of HDB requirements).

Do give me a call @ 94787875  as there are quite of different options that you can consider. Read More

Hi Nicholas,

Thank you for your enquiry for Twin Fountains EC which we are launching soon:

FOC Registration: 11th - 21st April 2013
View Showflat and Price Release: 8th - 9th May 2013
Unit Booking based on Ballot Q no.: 11th May 2013

Replies to your queries below:

Qn1: Just wondering what is the procedure in getting a condo like what is the initial downpayment for a condo and subsequent instalment starts after the project has been completed or upon project launch?

Ans1: For procedures, this EC will be sold under the HDB balloting scheme whereby interested buyers would have to register their interest, followed by viewing the showflat with price increase 3 weeks later followed by unit booking based on ballot Q no. another 2 days later.

Initial downpayment for the EC will be:
- 5% booking fee (cash only)
- 15% at exercise of S&P within 9 weeks from OTP (cash and/or cpf)
- Stamp Duty will be 3% of purchase price minus $5,400

Subsequent instalment plan would depend on your payment scheme of Progressive or Deferred Payment.

Qn2: Additionally, my current flat is under my name together with my parents. So do i need to sell my flat first before getting the flat or i can hold on to the flat first till the project is completed and ready to move in.

Ans2: Yes, you can hold on to the flat first till TOP (take key) of Twin Fountains and you will have 6mths thereafter to sell/transfer your HDB flat.

The Ans to Qn1 above is a general guide and I would suggest a no obligation consultation session at your convenient time and location to obtain the most accurate reply that you are seeking for Twin Fountains EC Purchase.

Alternatively, you may request for an email of Twin Fountains information or visit www.sgECsales.com

Thank you and we look forward to hearing for you soon

Andrew Ngauw
 8188 8887 
andrew.ngauw@gps.com.sg
GPS Alliance Pte Ltd
Twin Fountains Developer Sales Team

~ visit www.sgECsales.com for more EC info and Twin Fountains E-application online ~ Read More

Error Correction to Ans 1 earlier:

Ans1: For procedures, this EC will be sold under the HDB balloting scheme whereby interested buyers would have to register their interest, followed by viewing the showflat with price ***release 3 weeks later followed by unit booking based on ballot Q no. another 2 days later.

Thank you

Andrew Ngauw
 8188 8887 
andrew.ngauw@gps.com.sg
GPS Alliance Pte Ltd
Twin Fountains Developer Sales Team

~ visit www.sgECsales.com for more EC info and Twin Fountains E-application online ~ Read More