Purchase Timeline
Parktown Residences Purchase Timeline
Parktown Residences | Purchase Timeline
Building Under Construction’s Purchase Timeline
| Timeline | Description | Payment |
| Day 1 | Signing of Option to Purchase (hereinafter called “OTP”) upon received of booking fee. | 5% booking fee |
| Day 1 + Within 2 Weeks** | Sales & Purchase Agreement (hereinafter called “S&P”) will be sent to Purchaser’s appointed law firm or to Purchase if no law firm had been appointment. | N.A. |
| Within 3 Weeks from receiving of S&P** | Purchaser to sign the S&P at the appointed law firm and prepare payment of Buyer’s Stamp Duty (hereinafter called “BSD”) and Additional Buyer Stamp Duty Fee (Hereinafter called “ABSD”), if applicable. Law firm will receive a signed copy from Developer within 2 weeks. | |
| Within 2 Weeks from signing of S&P** | Purchaser to pay BSD and ABSD (if applicable) within 2 weeks from signing of S&P. | If Purchase Price is $1 million or below = BSD [(3% * Purchase Price) – $5,400] + ABSD (if applicable) |
| OR | ||
| If Purchase Price is $1 million or above = BSD [(4% * Purchase Price) – $15,400] + ABSD (if applicable) | ||
| OR | ||
| If Purchase Price is $1.5 million or above = BSD [(5% * Purchase Price) – $30,400] + ABSD (if applicable) | ||
| OR | ||
| If Purchase Price is $3 million or above = BSD [(6% * Purchase Price) – $60,400] + ABSD (if applicable) | ||
| On the 8th Week from Day 1 | Purchaser to pay remaining 15% downpayment + further Progressive Payment (if applicable) | 15% + Further Progressive Payment (if applicable) |
** This timeline can be EARLIER than stated. However, the Completion Date for the whole process is EIGHT (8) weeks from OTP date and not S&P date. Any delay must be requested in writing to the Developer of Parktown Residences and is subject to approval by the Developer.
