the sales of EC unit is handled by the developer and its marketing agent, normally at the showflat
From 12 Jan 2013, the developer can
only conduct the sales after the completion of foundation works or 15 months after winning the award,
whichever is earlier.
The sales of EC has to
be conducted in 2 stages; the initial launch and public launch.
- For the initial launch, w.e.f 2 March
2012, the developer has to set aside 70% of the
supply for first timer.
- The public launch is to be held only after
the initial launch. The applications and booking of units are on a First Come, First Served
1a. Mode of Sale - Initial
The initial launch sales process starts with
The application form has a standard set of questionaires that potential buyers need to fill in their
details and declare their eligibility to purchase.
Interested/Potential buyers have to submit
their application within the E-application period. The developer can start the E-application period even
before the showflat is ready. Only
applicants who have submitted their application form within the E-application period will be eligible to
participate in the initial launch
In order to factilitate the eligibility checks on of applicant(s), the developer may request for all the
supporting documents to be submitted with the signed application form.
After the E-application period, a computer or manual ballot will be used to random assign a
queue number to eligibile applicants. For computer ballot, the ballot result
will be made available within 3 weeks after the closure of e-application. Applicants can check the
ballot results online on developer website with their application number and NRIC number. For manual
ballot, it will be conducted on the day of booking and all applicants had 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
invited to view the showflat and/or 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 event your choice unit(s) 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 or through their marketing agent. Re-check your affordability if
the pricing differs too much from the initial estimate given
FAQs on E-Application
+ 1. Do I have to pay for E-Application? After signing up, am I obligated to purchase and is there any penalties if I choose not to purchase?
+ 2. Why can’t I decide to the E-Application only after viewing the showflat?
+ 3. What is the purpose and benefit(s) of doing E-Application for Initial Launch?
+ 4. Does doing an E-Application with multiple agents increase my chances of getting a good ballot number?
1b. Mode of Sale
- Public Launch
For public launch, the sales process is straightward on a First Come, First Served baisis. The public can
visit the showflat during its opening hours to view the showflat.
Any person interested in applying for an EC unit will be required to submit the E-application form together
with the supporting documents in respect of all persons listed in the application
2. Booking of Unit
For initial launch, the booking of unit will
commence around one month from the first day of e-application and 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.
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.
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.
will need to choose the type of payment scheme (either Normal Payment or Deferred
Payment). In the normal payment scheme, the
installment is paid progressively according to the different stages of construction
completion. In deferred payment, the developer allows the purchaser to defer all the normal
payment stages till the key collection. Typically, the pricing for deferred payent scheme is
higher than the normal payment sheme.
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. See the documents
checklist for the details of documentary proof required.
with all the supporting documents will then be processed for the approval to
purchase an EC unit.
and Purchase Agreement (SPA)
While waiting for the application to be
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) Finalised 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 SPA to the intended purchaser or purchaser's solicitor. The SPA must be
executed within 3 weeks from the receipt of SPA.
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 2 weeks from the date of SPA execution.
Booking Transaction Timeline
The EC booking
process/transaction is best summarised in below flowchart:
4. Post SPA
The loan payment
will start once the bank disburse the loan to the developer. The timing will depend on
the type of payment scheme (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
fufil 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
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, 20% of the purchase price will be forfeited. This
forfeiture is reduced from 20% to 5% of the purchase price for land sales after 9 Dec 2013 (from
Westwood Residences EC).
FAQs on EC Application
+ I have applied for a flat from HDB but have not booked a flat yet. Can I apply to buy an EC unit?
+ I have booked an HDB unit and have signed the Agreement. Can I buy an EC unit?
+ I have booked an EC or DBSS unit in another project, Can I buy an EC unit in this EC project now?
+ I have taken the CPF Housing Grant Under the Fiance/Fiancee Scheme, what is the financial forfeiture if I were to give up my EC unit after I have signed the Sale and Purchase Agreement.
Take the first step towards buying an Executive Condo unit
(or sms/call 91861688 for showflat appoitment)
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