URA allows electronic payment for booking fees, deposits of property purchases

The payments for the purchases of properties can now be made digitally.

The Controller of Housing (COH) has allowed the payment of booking fees and deposits to be made to developers through electronic payment modes.

When the developers have received the funds, they have to deposit the funds into the official project account of the development they are marketing.

Once the payment has been received, the developers are required to issue the standard Option to Purchase & the Sale and Purchase Agreement to the purchasers.

As every showflat in Singapore has to be closed from April 7, 2020 – May 4, 2020, developers can still market their developments using digital platforms.


Source: https://www.edgeprop.sg/property-news/ura-allows-electronic-payment-booking-fees-deposits-property-purchases


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