Purchase Timeline

Residential Purchase Timeline

S/No.TimelineDescriptionPayment
1.Day 1Acknowledgement of the Option To Purchase (OTP) upon receipt of Booking Fee5% Booking Fee (of purchase price)
2.Within 14 calendar days from OTP date or S/No. 1Sales & Purchase Agreement (S&P) will be sent to the purchaser’s appointed solicitorsN.A.
3.Within 21 days from S&P date or S/No. 2Purchaser to exercise S&PN.A.
4.Within 14 days from Exercising S&PPurchaser 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 in delays must be written in to the developers of Penrose, and subjected to approval.

For further progressive payments (as pointed out in S/No. 5), kindly refer to payment scheme.

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