The following are the steps to take:

a) You will first need to pay a booking fee which is 10% of the purchase price for the     exchange of the Option and Sale and Purchase Agreement.

b) Within 14 days after you've paid the booking fee, your lawyer will receive a Sale     and Purchase Agreement from the Developer. You must then sign the Agreement     and pay another 10% of the property in the following 3 weeks. During this time     you will also pay for the stamp duty.

c) After that, you should arrange for funds from the bank, and the CPF board for     another 80% of the purchase price to be paid in stages.

d) Once you have made all progress payments, the Legal title will be issued to you.

Yes, you are entitled to a refund of 95% of the booking fee if the purchase price is less than or equal to $200,000; and 90% if the purchase price is more than $200,000.

You should read the terms of the option carefully and make sure that they are agreeable to you. If you do not agree to any term in the option, you should get the developer to change it before you sign and accept the option.

The developer would send you a written notice 14 days before the payment is due.

An interest will be levied on the outstanding amount. The interest chargeable is usually 2% above the prevailing prime rates of the major banks in Singapore.

The executed Sale & Purchase Agreement is the proof of ownership.

You should claim for damages because of the delay.

It is usually 10% p.a. on the total sum of the progress payments, you have paid from the date due for completion, and when the sale and purchase is transfered in your favour.

Yes. There is a discount of 33 ½ % of the fixed scale costs.

Yes, provided you have exercised the option and have paid the 20% of the purchase price. Then you need to sign the Deed of Assignment with your buyer, and inform the developer of the resale. Once the developer is notified, the developer he will enter into a new agreement with your buyer.

You need to do so when you receive the developer's written notice to take possession of the unit.

The liability period begins when notice is served for you take possession of the property. This occurs when buyers attend a joint-inspection of the premises with the project manager.

Holes and cracks in tiles and walls are generally considered defects that the developer must rectify. Other defects may not be so clear-cut. The general rule of thumb is, the developer is liable for costs when he has not kept to the terms of the contract. Another method is to see whether an item fulfills the purpose for which it was built and whether it functions correctly.

Under the Sales & Purchase Agreement, you are entitled to engage your own contractor if the developer does not repair the defects within one month. However, before you do that, you should write down the date when you've listed the defects, and the date when the list was given to the developer. Also you have to obtain reasonable quotations for the repairs, and record that 14 days' notice of such quotations was forwarded to the developer. The cost of repairs by your contractor may be charged to the developer's account. Evidence of defects should be in the form of photographs of the defective areas, and if possible, obtain a loss adjuster's report or a surveyor's report on the defects.