The Buying Process for A New Launch Condo Tembusu Grand
Tembusu Grand is known for its luxurious and high-end finishing, and buying a new launch condo like Tembusu Grand condo can be a smart investment. However, the process of buying a Tembusu Grand condo can be complex, and it is essential to have a clear understanding of the steps involved. In this article, we will explore the buying process for a Tembusu Grand condo, including the important steps.
Step 1: Research and Shortlisting
The first step in the buying process is to research and shortlist the units in Tembusu Grand that meet your requirements. You can do this by visiting property websites, attending property exhibitions, and engaging with real estate agents. It is important to consider factors such as location, price, amenities, developer CDL reputation, and potential rental yield.
Step 2: Registration of Interest and Balloting
Once you have shortlisted a few Tembusu Grand units, the next step is to register your interest with CDL. This is usually done online, and you will need to provide your personal details and contact information. After registration, the developer will conduct a ballot to determine the order in which buyers can select their units. If your balloting number is selected, you will be invited to the sales gallery to select your preferred unit.
Step 3: Unit Selection and Reservation
At the sales gallery, you will be able to view the floor plans, unit types, and pricing details of the Tembusu Grand units. You can also physically visit the show flat to get a better idea of the unit’s layout and design. Once you have selected your preferred unit, you will need to pay a booking fee, which is typically 5-10% of the purchase price. This fee is non-refundable, and it confirms your interest in the unit.
Step 4: Signing the Sale and Purchase Agreement
After paying the booking fee, you will receive the Sale and Purchase Agreement (SPA) from the developer. This is a legal document that outlines the terms and conditions of the purchase. It is important to read and understand the SPA before signing it. Once you have signed the SPA, you will need to pay the balance of the down payment, which is typically 20-25% of the purchase price.
Step 5: Financing and Loan Approval
If you require financing for the purchase, you will need to apply for a loan from a bank or financial institution. The loan application process can take several weeks, and it is important to ensure that you have sufficient funds to pay the down payment and other associated costs, such as stamp duty and legal fees. Once your loan is approved, the bank will disburse the funds to the CDL on your behalf.
Step 6: Completion and Handover
The final step in the buying process is the completion and handover of the new launch Tembusu Grand. This typically takes place 3-4 years after the initial launch. During this time, the CDL will build and complete the project, and you will need to pay the remaining balance of the purchase price. Once Tembusu Grand is completed, you will be able to inspect the unit and take possession of the keys.
In conclusion, buying Tembusu Grand can be a complex process, but it can also be a smart investment. By following these important steps, you can ensure that you make an informed decision and secure your dream home. Remember to work with a reputable real estate agent and a trusted financial advisor to ensure a smooth and hassle-free buying process.