Step by step guide to own your Executive Condo in Singapore

Buying Process Guide

Executive Condominium

Buying Procedures

Learn more about the Executive Condominium (EC) unit purchasing procedure.

Process
The property developer will announce the project launch through newspapers, social media, their website, etc. You may contact the property developer for more information on: Preliminary designs The number of EC units offered Indicative prices E-application period (if applicable) and booking date Before you make an application for an EC, check if you are: Eligible to buy an EC unit from a property developer Able to obtain a housing loan from a financial institution Able to pay the costs related to the purchase, such as: Downpayment (comprising option fee and balance downpayment) Stamp duty and legal fees Resale levy/premium (if applicable) Renovation cost
No payments at this stage

Process

The property developer will announce the project launch through newspapers, social media, their website, etc. You may contact the property developer for more information on:

Preliminary designs
The number of EC units offered
Indicative prices
E-application period (if applicable) and booking date

Before you make an application for an EC, check if you are:

Eligible to buy an EC unit from a property developer
Able to obtain a housing loan from a financial institution
Able to pay the costs related to the purchase, such as:
- Downpayment (comprising option fee and balance downpayment)
- Stamp duty and legal fees
- Resale levy/premium (if applicable)
- Renovation cost

Payments

No payments at this stage

Step 2: Submit application

Details
You must submit an application to the property developer. The property developer may offer the units via computer balloting or walk-in selection.
Check with the property developer.

Step 3: Receive outcome of application

Details
Property developer will inform you of the outcome.
No payments at this stage.

Step 4: Book EC unit

Details
Property developer will invite you to book an EC unit and grant you the Option to Purchase (OTP), if you are eligible to buy an EC unit. For applicants applying for CPF Housing Grant Submit the completed EC application form, the application form for CPF Housing Grant for EC, and all other required supporting documents directly to the property developer.
Option fee: 5% of the purchase price upon successful booking, payable via: Cashier’s Order Cheque Telegraphic transfer Fast and Secure Transfers MAS Electronic Payment System General Interbank Recurring Order This amount will be used to offset the purchase price.

Step 5: Sign Sale and Purchase Agreement

Details
Property developer will invite you to sign the Sale and Purchase Agreement. You are advised to: Engage a solicitor to handle conveyancing matters. Arrange financing with a financial institution. Check with CPF Board on the use of CPF savings to pay for the EC unit.
Balance downpayment: 15% of the purchase price to be paid according to the timeframe stated in your Option to Purchase. This can be done via CPF Ordinary Account savings or cash. For applicants eligible for the CPF Housing Grant, the grant forms part of your CPF funds and can be used to pay the balance downpayment. Inform your solicitor about using the CPF Housing Grant, if applicable. Other payments include: Legal fees payable to your solicitor. Stamp duty and registration fees for legal documents. Legal fees and stamp duties can be paid using cash or CPF savings. Check with your financial institution or solicitor for more details on financing and conveyancing matters.

Step 6: Collect keys to EC unit

Details
Property developer will invite you to collect the keys when the EC project is completed.
Check with the property developer.

*The process may vary depending on the developer or future policy changes.

Buying Process Guide

Executive Condominium

Buying Procedures

For applicants applying for CPF Housing Grant

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