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

The Controller of Housing (COH), which is under the Urban Redevelopment Authority (URA), has allowed digital payments for purchases of properties. This includes the payment of booking fees, deposits or home instalments.

With regards to payments received for the sale of properties in the primary market, the developers have to ensure the money has to be deposited into the project account of the project.

The developers would also need to issue the standard forms to the buyers. The forms mentioned are the Option to Purchase (OTPs) and Sale and Purchase Agreement (S&P).

While all showflats must be closed for the period from 7th of April until 4th of May, developers can continue to market their projects via the use of technology and digital platforms.

 

 

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

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