Private Sale Treaty Timeline

Private Sale Treaty Timeline

Timeline for Private Sale Treaty 

TimelineStage 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

Within 8-10 weeks from exercising option  Completion of Sales & Purchase at Law Firm

Remaining Payment 95%-90%
(Cash/CPF/Bank Loan for residential properties )

(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.