Purchase Timeline
Residential Purchase Timeline
S/No.
Timeline
Description
Payment
- 1.
- Day 1
- Acknowledgement of the Option To Purchase (OTP) upon receipt of Booking Fee
- 5% Booking Fee (of purchase price)
- 2.
- Within 14 calendar days from OTP date or S/No. 1
- Sales & Purchase Agreement (S&P) will be sent to the purchaser’s appointed solicitors
- N.A.
- 3.
- Within 21 days from S&P date or S/No. 2
- Purchaser to exercise S&P
- N.A.
- 4.
- Within 14 days from Exercising S&P
- Purchaser to pay Buyer’s Stamp Duty (BSD) and/or Additional Buyer’s Stamp Duty (ABSD)
- Refer to Stamp Duty Page
- 5.
- Within 21 days after Exercising S&P (i.e. 7 days after paying stamp duties)
- Purchaser to pay remaining 15% downpayment + any other progressive payments. Loan may be disbursed at this point.
- 15% + Further Progressive Payments (if applicable)
Timeline stated may be earlier than stated. Standard completion timeline of 8 weeks occurs from OTP date. Any requests for any deviations in the standard residential purchase timeline as shown above must be formally written in to the developers of Lentor Modern, and be subjected to approval.
For further progressive payments (as pointed out in S/No. 5), kindly refer to payment scheme.
