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Purchase Timeline

Purchase Timeline for Building Under Construction

Day 1Signing the Option to Purchase (referred to as "OTP") will take place upon the receipt of the option fee.5% Option Fee
Day 1 + within 2 weeks *The Sales & Purchase Agreement (referred to as "S&P") will be dispatched to the purchaser’s designated legal firm or directly to the purchaser’s home address if a legal firm has not been appointed yet.
Within 3 weeks from the receipt of S&P *The purchaser is required to sign the Sales & Purchase Agreement (referred to as "S&P") at the designated law firm and arrange for the payment of the Buyer’s Stamp Duty Fee (hereinafter referred to as "BSD") and Additional Buyer’s Stamp Duty Fee (hereinafter referred to as "ABSD"), if applicable. The law firm will receive a signed copy from the developer within two weeks.
Within 2 weeks from the signing of S&P *The purchaser is required to pay the Buyer’s Stamp Duty (BSD) and Additional Buyer’s Stamp Duty (ABSD), if applicable, within a two-week period from the signing of the Sales & Purchase Agreement (S&P).
On the 8th week from Day 1The purchaser is to pay the remaining 15% down payment and any additional progressive payments, if applicable.15% + additional progressive payment (if applicable)

*Note: The timeline for the purchase can be earlier. The Completion date for the entire process is 8 weeks from the OTP date, not the S&P date. The developer of Chuan Park Residences must be notified in writing if there is a delay.

If the purchaser does not exercise the S&P with the law firm in 3 weeks, then the developer is entitled to 25% of the option fees, which is equal to 1.25 % of the purchase price. The purchaser will receive the remaining 75%. The developer can then sell the unit to anyone interested.

The next progressive payment is dependent on the progress of the construction project. For more information, please refer to the “Payment Scheme”.

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