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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

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

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Payment Method Differences:

The main difference in payment method between purchasing an under-construction condo and an already built condo lies in the progressive payments during the construction period for under-construction condos.
My Answer with regards to your Question:

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Hi, hopefully you managed to get your doubt or query answered. If, so then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me .

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More