Hi Andy,
I believe you are referring to the New EC launches (either Copen Grand or Tenet EC) since you mentioned the 15 month cooling period.
HDB's regulation is such that this 15 month "waiting period, introduced in January last year (2013), stipulates that developers can put an EC up for sale 15 months after buying the land or completing foundation works, whichever is earlier."
https://www.straitstimes.com/business/15-month-waiting-time-for-ec-launches-stays-mnd
So to address your question, usually by the time the EC is launched for sale, the Developer side would have already commenced the works for the Foundation and this payment milestone usually will be quite soon after booking the unit. For another EC project that I have transacted in, the foundation payment was called together with the 15% downpayment as it was already completed. So you can be assured that the developer will also want to complete the project asap to secure their funding.
May I know which EC are you looking at? I am involved in both Copen Grand and Tenet EC and can provide you with a step by step walkthrough. Happy to share more on the procedures.
Thanks and look forward to value-add to your housing plans.
Warm Regards,
Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever
SEAA Salesperson Achievement Award 2021 (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)
ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
ERA Top 11th Achiever in June 2020 (Top 1% Company Level)
ERA Top 91th Achiever in 2nd Quarter 2020 (Top 2% Company Level)
ERA Top 15th Achiever in April 2019 (Top 1% Company Level)
ERA Top 86th Achiever in Sept 2019 (Top 2% Company Level)
SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.
Contact:
(+65) 97432395
Whatsapp: wa.me/6597432395
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
Web: ivanng10.com/clientreviews
(Client's Testimonials)
CEA: R052114D
**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **
Mr. & Mrs Wang : We want to convey our thanks to Ivan, who helped us find our first home. Ivan was very responsive when we first met, and took time to understand our needs and requirements for our first home. He helped us narrow down our criteria and gave us good advice on how to structure our mortgage as well. He also made a great recommendation of an area we never thought of, and it was where we eventually bought our home. We appreciate Ivan's thoroughness in pros and cons of all our options that we viewed. We never felt pressured or rushed to make a decision. In fact, Ivan gave honest and useful inputs on the considerations of acting immediately or waiting. All in all, it was a very smooth experience and we ate very happy with the unit we bought. Thank you!
Read More
Sure may I know if you are looking at Copen Grand or Tenet? Copen Grand showflat is open for viewing next week. Happy to share more at the showflat. I am contactable at 97432395 . Do let me know Thanks!
We are in the midst of some initial planning, will contact you separately if need further assistance.
Thanks much again!