If you're unable to make the second payment for your new launch condo in Singapore, the consequences can be significant:
1. **Forfeiture of Downpayment**: Typically, if you fail to make the subsequent payments, the developer will forfeit a portion of your initial downpayment. This usually amounts to 25% of the booking fee, which is 1.25% of the purchase price¹².
2. **Unit Reallocation**: The developer will likely put the unit back on the market for sale to other potential buyers³.
3. **Additional Penalties**: Besides losing part of your downpayment, there may be other penalties or administrative fees imposed by the developer. It's essential to review the terms outlined in your Sales & Purchase Agreement (S&P) to understand all potential costs³.
It's always a good idea to communicate with the developer as soon as possible if you foresee any payment difficulties. They might offer some flexibility or alternative arrangements.
If you have any more questions or need further assistance, feel free to ask!
WhatsApp me at: ABLE Toh
(65) 9856-9255
or through this link.:https://wa.me/6598569255
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"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 9856*9255 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )
(***) You can check out my reviews here:
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.
For buyers, I offer solutions for sourcing resale and new private homes at no charge.
I can connect you with reputable bankers for private housing loans free of charge and with no obligation.
I also have partners to assist with mortgage home insurance matters.
Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!
*** You can reach me at my Singapore mobile:
(65) 9856 9255
or email me at Able.selling@gmail.com.
From: ABLE Toh- Your Property ASSISTANT : ）
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”
*** DEVELOPER SALES TEAM !!! BEST PRICES !!! NO AGENT FEES !! LOWEST PRICE GUARANTEED !!!
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*** Here are some exciting condominium launches in Singapore scheduled between June and December 2024:
> - Located at Yuan Ching Road in District 22, this 99-year leasehold development is set to preview in June 2024. Sora offers a mix of modern amenities and scenic views near Jurong Lake.
> A freehold development in District 17 at Flora Drive, set to launch in July 2024. Kassia is designed for those who appreciate luxury living in a serene environment.
> This 99-year leasehold property at Bukit Timah (District 21) is expected to launch in September 2024. It caters to families looking for prestigious schools and nature reserves nearby.
> A highly anticipated freehold development in District 2 at Anson Road, launching in Q4 2024. It combines luxury living with proximity to the Central Business District.
> Situated at Shenton Way (District 1), this 99-year leasehold project is ideal for those seeking a prime location near Marina Bay and the financial district, with a launch expected in late 2024.
> Launching in Q3 2024
Right next to Lorong Chuan MRT on Circle Line and close proximity to Serangoon.
LASTLY , For Newly TOP Condominium that Need RENT / SELL FAST *** Connect Trusted Singapore
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it is not advisable.