Private Sale Treaty Timeline
Private Sale Treaty Timeline
Timeline for Private Sale Treaty
| Timeline | Stage | Payment |
| Day 1 (Option date) | Present Offer to Purchase in exchange for an Option | 1% of the agreed purchase price |
| Both Buyer and Seller appoint their own representative solicitor | ||
| Buyer prepare for AIP ( approved in-principle from the bank) if taking a loan (For loan, it is advisable to have an AIP before buying any property) | ||
| Within 14 days from Day 1 (Option date) | Buyer to exercise option & sign Sales & Purchase agreement at his/her representative solicitor's law firm | 4%- 9% of the agreed purchase price |
| Within 14 days from exercising option | Buyer to pay stamp duty BSD ( Buyer's stamp duty) for first residential property ABSD ( Additional Buyer's Stamp duty) for second or more residential properties ( ABSD not applicable on commercial and industrial property) | refer to the stamp duty chart https://uproperty.sg/stamp-duty-for-residential-property-7739200 |
| Within 8-10 weeks from exercising option | Completion of Sales & Purchase at Law Firm | Remaining Payment 95%-90% (CPFnot applicable for commercial/ industrial properties) |
*Please note that this is not intended as financial advice. This is meant as an illustration for general purpose. For a more in-depth analysis, do contact us so that we can assist you better.