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

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

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

Once the payment has been confirmed, 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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