** This timeline can be EARLIER than stated. However, the Completion Date for the whole process is EIGHT (8) weeks from OTP date and not S&P date. Any delay must be requested in writing to the Developer of Promenade Peak and is subject to approval by the Developer.
In the event that the buyer(s) did not exercise the S&P at the law firm within 3 weeks, the developer shall entitle to forfeit 25% of the booking fee, which is equivalent to 1.25% of the purchase price. The remaining 75% of booking fee shall be refunded to the buyer(s).
Assuming the purchase price is $1,000,000:
5% = $50,000
Forfeiture amount = $12,500
Refund amount = $37,500
Thereafter, the developer is entitled to sell the unit to any interested party either on balloting basis on first-come-first-serve basis.
The further progressive payment depends on the stage of the construction of the project. Please refer to “Payment Scheme” to find out more.
