Getting Ready to Purchase a New Launch
Process of buying a BUC
(Booking Fee / Option Issued)
Timeline for Buying Resale Private Property
Buyer gives option fee (1%)
& Offer to Purchase
Expiry of the option
to Purchase (OTP)
*Payment of Stamp Duty
(3% – $5400)
*The expiry date of the OTP ends at 4 p.m.
The buyer has to confirm his loan approval with the bank before signing on the OTP.
1) Notice of Assessment (NOA)
2) 3 months’ payslips
3) CPF statement
Ensure that to sign the acceptance portion of the OTP.
Before selling, ensure to clarify the minimum time the bank needs to settle the loan