Procedure in buying an EC
Procedure in buying an EC.
Ola EC Application Procedure
| Step 1 |
| Developers will announce the sales launch in the newspapers and on the website. You can contact us before sale launch to find more information on: – Indicative prices – Preliminary designs – The number of units of EC offeredBefore you make an EC application, check if you are: Eligible to buy an EC from a developer – Eligible to apply for CPF Housing Grant – Able to obtain a bank loan – Able to pay: the option fee downpayment, and other costs related to the purchase such as: – Legal fees – Resale levy – Stamp Fee – Resale Levy (if any) |
| Step 2 |
| You must submit an application with the developer. Developer has the choice to offer the units via balloting or walk-in selection. |
| Step 3 |
| Developer will invite you to book an EC and sign the Option to Purchase (OTP). You will have to submit the application form for CPF Housing Grant to the developer, if eligible. |
| Step 4 |
| Developer will submit your application to HDB for approval. |
| Step 5 |
| You will be invited by the developer to sign the Sale and Purchase Agreement. You have to submit: – A Letter of Offer if you are obtaining a housing loan from banks |
| Step 6 |
| The developer will invite you to collect the keys when the EC is completed. |
Wish to own an Executive Condo Unit and wish to check if you are eligible to buy or Procedure in buying an EC?
Please Contact Sales Hotline at 66774656 if you have any enquiry as such:
(1) If you are eligible to buy EC.
(2) If your income exceed $16,000.
(3) If you own HDB flat and HDB shophouse or commercial property.
(4) If you can’t get 75% home loan but currently own a HDB flat or DBSS.
(5) If your current HDB flat is Resale without CPF Housing Grant and bought before Mid 2018 (TBC).
(6) For divorcees, if you have obtained an Interim Judgement of divorce and have settled the ancillary matters on matrimonial property, and the custody, care and control of your children and waiting for the Final Judgement of divorce.
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