Applying for EC from Private Developers

With CPF Housing Grant

 

  • You will submit the completed EC application form and the prescribed application form for the CPF Housing Grant for EC directly to the developer when you book a unit with them.
  • For the application for CPF Housing Grant, please submit all supporting documents to the Developer within one week from date of booking of the EC unit. If the developer does not receive the full set of supporting documents as required within the one week deadline, we will not be able to process your application for the CPF Housing Grant in time for the downpayment.
  • After you have booked an EC unit, you must complete and send the CPF Withdrawal Form RPS/1A (Residential Properties Scheme) directly to the CPF Board for their processing. This is to allow you to use your CPF money or the CPF Housing Grant, or both, for the payment of your EC unit.
  • You will have to pay a booking fee of 5% of the purchase price of the EC by cash/cashier’s order or by cheque in exchange for an Option to Purchase.
  • If you qualify to buy an EC, you will sign the Sales and Purchase Agreement with the developer. Buyers are required to pay the balance of the downpayment for the EC unit within eight weeks from the date of the Option to Purchase. The balance downpayment can be paid from CPF funds. The CPF Housing Grant, if applicable forms part of the CPF monies and may be used to pay the balance downpayment. Legal fees and stamp duties may be paid using cash, or CPF monies.
  • You are advised to engage a solicitor to handle the conveyancing matters, arrange with a bank for financing, and check with CPF Board on the use of your CPF money to pay for the EC.
Without CPF Housing Grant
  • You can book an EC unit directly from the developer. You will have to pay a booking fee of 5% of the purchase price of the EC by cash/cashier’s order or by cheque in exchange for an Option to Purchase.
  • If you qualify to buy an EC, you will sign the Sales and Purchase Agreement with the developer and pay the balance of the downpayment within eight weeks from the date of the Option to Purchase. The payment can be in cash, CPF or both.
  • You are advised to engage a solicitor to handle the conveyancing matters, arrange with a bank for financing, and check with CPF Board on the use of your CPF money to pay for the EC.
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