After reservation, buyers are offered a payment plan to pay for the property in six instalments over 15 months, starting with a $10,000 non-refundable reservation fee.
A first payment of 10% is paid into notary escrow upon signature of the MOU, followed by 40% minus the reservation fee, paid into notary escrow upon completion of due diligence, typically within 2 to 3 weeks.
The next 15% is payable after completion of the foundations, followed by 15% after roof placement, and another 15% upon completion of door and window installation. The remaining 5% is payable upon handover.
