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

Payments meant for the purchases of properties can now be made digitally.

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

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

Once 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 during the period 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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