3 Answers

J.A. Goh 吴永益
Hi MKZL,

For new launched Condo:

Booking Fee - 5% (Cash)
Next is 15%, either CPF or Cash or combined. This will be about 10 weeks later.
Subsequent will be 80% bank loan, whereby progressive payment applied. Bank will start your installment once they dispense a certain payment to the developer.

For resale is about the same, expect that in the beginning is 1% option fee, followed by 4% within 14 days when you exercise the Option.

Please feel free to drop me an email or call me directly for further discussion.

Thanks & Best Regards
J.A.Goh - ERA
HP: 9639 0350 
www.gohjaERA.myweb.sg
Email: gohja@singnet.com.sg Read More
2
Hi MKZL,

For condos under construction, there's the progressive payment scheme applicable in newer condo developments. The amount of loan progresses as the construction gets underway. It's a very slow and steady process throughout the couple of years of construction.
If you've set eyes on one, be prepared to fork out the 5% booking fee followed by the remaining 15% months ahead. The subsequent progressive mortgage payments will then kick in.

Not forgetting the Stamp duties as mentioned by what Darren.

In the resale market, the initial 1% will be handed over to the seller to obtain the OTP. After which you'll be given approx 14 days to exercise the option with the remaining 4% presented. You're required to settle you mortgage matters with your respective bank and CPF fundings within the 14 days. Engage a lawyer and he/she will guide you through the process including the bank applications and CPF fundings etc.
Hope the above helps.

I'm living in the AMK area. There's currently only Grandeur 8 and Centro Residence (construction) around this vicinity.
Not far away in Yio Chu Kang are Bullion Park, Castle Green, Nuovo, Far Horizon, Seasons Park and Thomson Grove.

Should you need any assistance in getting one. Please feel free to drop me an email at clintonlimzj@hotmail.com
I can also be reached at 94523347  .
Hope to hear from you soon!
Have a nice day! Read More
0
  • KM
    Can you explain what it means by Progressive Payment while the Condo is being constructed.
Mani Subramanian Veeramani
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