The Progressive Payment Scheme is applicable for the purchase of Buildings Under Construction (BUC) properties.
This scheme allows the purchaser to pay for the property in stages, depending on the stage of construction it is at.
The construction stages are determined according to the table as follows.
|Stage||Percentage of Purchase Price|
|Upon signing Agreement / within 8 weeks immediately after date of Option||20% (includes 5% booking fee paid in cash earlier)|
|The following progress payments are due after the seller has given one copy of the Agreement to the purchase of his lawyer, and within 14 days of the purchaser receiving notice of completion of the following works:|
|Reinforced concrete framework||10%|
|Door sub-frames / door frames, window frames, electrical wiring (without fittings), internal plastering and plumbing||5%|
|Car park, roads and drains serving the housing project||5%|
|Building, roads and drainage and sewerage works in the housing estate, connection of water, electricity and gas supplies (TOP, Key Collection)||25%|
|Final Payment Date and/or Completion (might be staggered further depending on when the Certificate of Statutory Completion is issued)||15%|
Please book an appointment prior to your visit.