OUE Limited is offering two new payment schemes for OUE Twin Peaks – a 462-unit condominium development on Leonie Hill Road. The schemes are considered as a private arrangement between the buyer and seller as the project has obtained the Certificate of Statutory Completion (CSC).
Both schemes (Normal/ Deferred) are considered as a private treaty between the buyer and the seller. Under the second scheme, we understand that the title deed will be held by the developer until the buyer pays the balance 80% due to the developer.
OUE TWIN PEAKS PAYMENT SCHEME
*SCHEME A – NORMAL PAYMENT SCHEME*
- 1% – booking / Option To Purchase
- 4% – exercise within 14 days
- 95% – 8 weeks completion
*SCHEME B – DEFERRED PAYMENT SCHEME*
- (Price up 5% from Normal Payment Scheme price)
- 10% booking / Option To Purchase +
- 10% – exercise within 14 days
- Buyer shows proof of SD (Stamp Duty) payment
- Further sum $1000 – NVP (notice of vacant possession)
- Balance 80% less $1000 – Deferred 3 years from exercise date.
——–Possession of the unit——–
- Purchaser upon proof of Stamp duty and/or ABSD paid will be given keys to the unit
- 80% of purchase price less $2000 (Option Exercise Fee & Further Sum) to be paid on 36 months from the date of Option issued
- Title Deed of the said property will not be transferred to purchaser until full payment is received
- Purchaser will be responsible for the monthly maintenance upon possession of the unit
- Should purchaser not complete the sale within 36 months, the 20% + $2000 will be forfeited
This Scheme has given buyers the option to stay and pay later. By the third year, buyers can sell the property without paying any seller stamp duty.