Quick EC Eligibility Checklist
- Are you a family nucleus?
- Are both of you Singaporeans or Singaporean & Singapore PR?
- Are your household income below $16,000?
- Have you owned or is this your subsidized HDB Flat?
- Are you currently staying in this HDB Flat for more than 5 years?
- Have not own private property/dispose of any the last 30 months?
If your answers are "YES" to the above questions,you are eligible to submit an E-Application for the New Executive Condominium.
Simply fill up the E-Application form with all the relevant documents and email to rayburncheong@gmail.com.
Preliminary
The sales of EC will be conducted in 2 stages - the initial launch and public launch.
- For the initial launch, 70% of the supply will be set aside for first timers.
- For the public launch which is to be held only after the initial launch, the application and booking of units are on a First Come-First Serve basis.
To enjoy priority booking, fill up this E-Application form, attach with all the supporting documents required and email back to rayburncheong@gmail.com now to be eligible to participate in the initial launch. (Note: Submitting of e-Application form doesn't constitute to a purchase & there is strictly no obligation. To avoid any duplication & complications,please refrain from submitting more than once and/or more than one person.)
After the E-Application period, manual ballot will be used during the initial launch to randomly assign a queue number to all eligible applicants. It will be conducted on the day of booking and all applicants have to turn up before the manual ballot cut-off timing in order to participate in the drawing of queue number.
The queue number will determine the order that applicants get to be invited to the showflat to select the EC unit on booking day.
Between the period of E-Application and booking date, study the site/floor plan of project in details. It is also prudent to do a check on how much housing loan applicant(s) can borrow. Based on budget and needs, applicants should shortlist a set of the desired units for the booking day (in the event your preferred unit is taken by those earlier in the queue).
The actual selling price of the EC unit will be made known prior to booking day. Applicants can view the selling price of their shortlisted units at the showflat. Re-check your affordability if the pricing differs too much from the initial estimate given.
Booking of Unit
For the initial launch, the booking of unit will commence around one month from the first day of E-Application and to be carried out in accordance to the allocated queue number. Turn up at the appointment time punctually with all the supporting documents for the booking of unit.
For booking, applicants will be required to pay an Option Fee of 5% of the Purchase Price of the selected unit by way of Cheque or Cashier's Order.
Applicants who are eligible for the CPF Housing Grant and who wish to apply for the grant must submit the CPF Housing Grant Form to the developer at the point of booking.
Applicants will need to choose the types of payment scheme - either Normal Payment Scheme (NPS) or Deferred Payment Scheme (DPS).
In the Normal Payment Scheme, the instalment is paid progressively according to the different stages of construction completion.
In the Deferred Payment Scheme, the developer allows the purchaser to defer all the normal payment stages till the key collection.
Typically, the pricing for DPS is higher than the NPS.
Upon successful booking, an Option to Purchase will be issued to the applicant. No change of unit and/or payment scheme will be allowed after the booking is completed.
Any outstanding supporting documents not available at the point of booking must be submitted within a week from the date of the EC unit booking.
The application with all the supporting documents will then be processed for the approval to purchase an EC unit.
Sales and Purchase Agreement (S&P)
While waiting for the application to be approved,
a) Applicants need to appoint a solicitor to act on their behalf for the purchase of an EC unit. Applicants can choose the solicitor on their own or through the marketing agent or through the bank.
b) Finalized the choice of bank and the mortgage loan quantum. It is prudent not to sign on the mortgage loan dotted line until the application to purchase has been approved.
Once your application been approved, the Developer's solicitor will send the S&P to the intended purchaser or purchaser's solicitor. The S&P must be executed within 3 weeks from the receipt of S&P.
The balance downpayment (15% in cash and/or CPF) is due at this stage or within 9 weeks from the OTP, whichever is later.
The stamp duty is payable within 2 weeks from the date of S&P execution.
Post S&P Execution
The loan payment will start once the bank disburse the loan to the developer. The timing will depend on the types of payment scheme (ie. Normal or Deferred) selected at the point of booking.
In the event where the eligible applicants decides not to exercise the Option to Purchase, 25% of the 5% option fee will be forfeited.
Applicants must maintain their eligibility throughout their ownership period. Applicants will not be able to collect their keys if they are unable to fulfill the eligibility conditions.
Fiance/Fiancee are required to produce their marriage certificate within 3 months of taking possession of the EC unit. If they received the housing grant, the marriage certificate must be produced for inspection before taking possession of the unit.
Applicants and essential occupiers listed in the application, who are existing owners of HDB/DBSS flat, must relinquish ownership/sell their flats within 6 months from the date of issuance of Temporary Occupation Permit (TOP).
Where the Sale and Purchase Agreement has been executed & in the event of non-payment or termination, 5% of the purchase price will be forfeited.
The sales of EC will be conducted in 2 stages - the initial launch and public launch.
- For the initial launch, 70% of the supply will be set aside for first timers.
- For the public launch which is to be held only after the initial launch, the application and booking of units are on a First Come-First Serve basis.
To enjoy priority booking, fill up this E-Application form, attach with all the supporting documents required and email back to rayburncheong@gmail.com now to be eligible to participate in the initial launch. (Note: Submitting of e-Application form doesn't constitute to a purchase & there is strictly no obligation. To avoid any duplication & complications,please refrain from submitting more than once and/or more than one person.)
After the E-Application period, manual ballot will be used during the initial launch to randomly assign a queue number to all eligible applicants. It will be conducted on the day of booking and all applicants have to turn up before the manual ballot cut-off timing in order to participate in the drawing of queue number.
The queue number will determine the order that applicants get to be invited to the showflat to select the EC unit on booking day.
Between the period of E-Application and booking date, study the site/floor plan of project in details. It is also prudent to do a check on how much housing loan applicant(s) can borrow. Based on budget and needs, applicants should shortlist a set of the desired units for the booking day (in the event your preferred unit is taken by those earlier in the queue).
The actual selling price of the EC unit will be made known prior to booking day. Applicants can view the selling price of their shortlisted units at the showflat. Re-check your affordability if the pricing differs too much from the initial estimate given.
Booking of Unit
For the initial launch, the booking of unit will commence around one month from the first day of E-Application and to be carried out in accordance to the allocated queue number. Turn up at the appointment time punctually with all the supporting documents for the booking of unit.
For booking, applicants will be required to pay an Option Fee of 5% of the Purchase Price of the selected unit by way of Cheque or Cashier's Order.
Applicants who are eligible for the CPF Housing Grant and who wish to apply for the grant must submit the CPF Housing Grant Form to the developer at the point of booking.
Applicants will need to choose the types of payment scheme - either Normal Payment Scheme (NPS) or Deferred Payment Scheme (DPS).
In the Normal Payment Scheme, the instalment is paid progressively according to the different stages of construction completion.
In the Deferred Payment Scheme, the developer allows the purchaser to defer all the normal payment stages till the key collection.
Typically, the pricing for DPS is higher than the NPS.
Upon successful booking, an Option to Purchase will be issued to the applicant. No change of unit and/or payment scheme will be allowed after the booking is completed.
Any outstanding supporting documents not available at the point of booking must be submitted within a week from the date of the EC unit booking.
The application with all the supporting documents will then be processed for the approval to purchase an EC unit.
Sales and Purchase Agreement (S&P)
While waiting for the application to be approved,
a) Applicants need to appoint a solicitor to act on their behalf for the purchase of an EC unit. Applicants can choose the solicitor on their own or through the marketing agent or through the bank.
b) Finalized the choice of bank and the mortgage loan quantum. It is prudent not to sign on the mortgage loan dotted line until the application to purchase has been approved.
Once your application been approved, the Developer's solicitor will send the S&P to the intended purchaser or purchaser's solicitor. The S&P must be executed within 3 weeks from the receipt of S&P.
The balance downpayment (15% in cash and/or CPF) is due at this stage or within 9 weeks from the OTP, whichever is later.
The stamp duty is payable within 2 weeks from the date of S&P execution.
Post S&P Execution
The loan payment will start once the bank disburse the loan to the developer. The timing will depend on the types of payment scheme (ie. Normal or Deferred) selected at the point of booking.
In the event where the eligible applicants decides not to exercise the Option to Purchase, 25% of the 5% option fee will be forfeited.
Applicants must maintain their eligibility throughout their ownership period. Applicants will not be able to collect their keys if they are unable to fulfill the eligibility conditions.
Fiance/Fiancee are required to produce their marriage certificate within 3 months of taking possession of the EC unit. If they received the housing grant, the marriage certificate must be produced for inspection before taking possession of the unit.
Applicants and essential occupiers listed in the application, who are existing owners of HDB/DBSS flat, must relinquish ownership/sell their flats within 6 months from the date of issuance of Temporary Occupation Permit (TOP).
Where the Sale and Purchase Agreement has been executed & in the event of non-payment or termination, 5% of the purchase price will be forfeited.
If you are still not sure whether you are eligible or how much grant you are entitle or whether you could afford to invest into an EC,click & fill up this FORM & we would be pleased to assist you.