Buyer purchasing a uncompleted properties from a developer will be subject to a progressive payment schedule. 

Progressive Payment Schedule

Timeline Stage % of Purchase Price Remark
Booking Day Upon the grant of Option to Purchase 5% Cash payment only. No CPF
Within 2 weeks from booking Developer send S & P to buyer’s law firm Buyer has 3 weeks to exercise S & P
Within 3 weeks from receiving the S & P Exercise S & P with your law firm To avoid a extra trip to the law firm, usually you will pass the next 15% and the stamp duty amount to your lawyer at this stage.
Within 2 weeks from exercising the S & P Pay BSD & ABSD See page on Buyer Stamp Duty (BSD) & Additional Buyer Stamp Duty (ABSD) for details.
8 weeks from booking Exercise S & P with developer 15% Buyer’s Law firm will deliver your payment to developer.
Estimate 9 to 12 months from start of construction Completion of foundation work 10% 5% of this payment have to be in cash or CPF. The other 5% can be from your home loan.
Estimate 6 to 9 months from the previous stage Completion of reinforced concrete framework of unit 10% For 75% loan, the bank will make payment to your developer from here on. You will start paying instalment base on the amount of disbursed to the developer.
Estimate 3 to 6 months from the previous stage Completion of brick walls of unit 5%
Estimate 3 to 6 months from the previous stage Completion of electrical wiring, internal plastering, plumbing
and installation of door and window frames of unit
5%
Estimate 3 to 6 months from the previous stage Completion of car park, roads and drains serving the housing
project
5%
Estimate 3 to 6 months from the previous stage Notice of Vacant Possession (TOP) 25% This is when you get the keys to your property
Estimate 6 to 12 months from TOP
On Completion Date 15%