Purchase Timeline
Residential Purchase Timeline
S/No.
Timeline
Description
Payment
- 1.
- Day 1
- Acknowledgement of the Option To Purchase (OTP) upon receipt of Booking Fee
- 5% Booking Fee (of purchase price)
- 2.
- Within 14 calendar days from OTP date or S/No. 1
- Sales & Purchase Agreement (S&P) will be sent to the purchaser’s appointed solicitors
- N.A.
- 3.
- Within 21 days from S&P date or S/No. 2
- Purchaser to exercise S&P
- N.A.
- 4.
- Within 14 days from Exercising S&P
- Purchaser 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 MYRA, and subjected to approval.
For further progressive payments (as pointed out in S/No. 5), kindly refer to payment scheme.
