Parc Botannia Condo Showflat Location & Address
Parc Botannia Condo exact location will be located along Fervale Road, Near Jalan Kayu
Below is the Show Gallery exact location, please register to make your appointment to the Parc Botannia showroom.
5 Preparations to Take Note Before Visiting Parc Botannia Showflat Gallery
- Never estimate how much you have in your CPF, always login to CPF website to find our how much CPF you are allocated for property purchase, Parc Botannia Condo
- Take some time to visit the banks or call your preferred bankers to give you an indication of the maximum loan you are entitled to borrow. Be true to what you are already committed like the properties owned or any credits/financial liabilities you have.
- Is ABSD going to affect you? You will need to know the bracket you are in.
- The flow and process on how Normal Progressive Payment Scheme works
- Since Parc Botannia is a mass market condo, it will definitely receive good response and hence how balloting functions is crucial on the actual launch date.
Register early (preferably now) to stay updated on Parc Botannia condo information and also understand how the above functions work.
Important Read up Before Registering Parc Botannia Showflat
If you are thinking of making that trip to see the new Parc Botannia showflat condominium, there are some things that you need to do first to be better prepared. You will need to assess your present financial strength first. Your income should not limit your purchasing power. But you must also be aware of the maximum amount that you can be allowed to loan from any bank because it will depend on the overall sum of all the monthly financial commitments that you have.
To make it easier for you, here are some of the things that you need to do before you will decide to make that trip to Parc Botannia Show Gallery.
- Get the Parc Botannia price list, select the unit you are keen.
- Find out how CPF will you be able to use if you will decide to purchase the property.
- Talk to a banker. Finding out how much loan you are eligible in the present monthly financial commitments that you have as well as in your present property portfolio.
- Find out which specific ABSD bracket you belong to.
- Find out everything that you can about Normal Progressive Payment. Find out how it works.
- Be sure to take the time to learn everything that you can about the Balloting system and how it works.
- Check how much CPF you can use
If this is the first time that you are buying a property, the maximum amount that you will be allowed to use as far as CPF goes would be your entire OA or Ordinary Account funds. If this is the second property that you are purchasing, you will have to fulfill the minimum sum which is often at $75,000 along with your Special Account and your Ordinary Account.
- Get your Housing Loan pre-approved
A lot of buyers often overlook this process without knowing that this is very important towards purchasing unit in Parc Botannia. People interested in getting a property purchased are often required these days to have to secure an AIP or an approved in principle before they can proceed. Without it, you will not be able to set a budget for the purchase.
When you have secured an AIP, it will be easier for you to know how much the bank is able to lend to you for the purchase. Besides, there is no reason why people should refuse to secure one. It is free to process. While there may be a waiting time of approximately three days, the effort needed to secure one is really quite minimal.
You do need to secure some documents though in order to process one. They include the following:
- A copy of passport of all the people making the purchase or NRIC
- Your credit card statements will be required as well
- Accomplished application form
- Declaration form for all your credit facilities
- HDB page that will show your present HDB status (Has an HDB loan, don’t own any HDB, didn’t take up any HDB loan)
- Your latest pay slips for the last three months as well as the Tax Assessment Return from IRAS or people who are employed
- Statement of contribution for CPF for the last 12 months for people who are employed
- Latest Tax Assessment Return from the IRAs for the past year both for employed and for self-employed individuals.
- Find out where you fall in the ABSD Bracket
ABSD stands for Additional Buyer Stamp Duty bracket. Which bracket you fall under is crucial in today’s market. For Singaporeans that are buying their very first property, it will be free of ABSD. But if this is the second or more time that you are making a property purchase, subsequent taxes will be applied to the succeeding purchases such 7% and 10% for the second and third purchases respectively.
For those who are considered as PRs or Permanent Residents, the initial property purchase is taxed at 5%. Subsequent property purchases are going to be taxed at 10% on the transacted price. For those that want to purchase a property but are Foreigners and Entities, they can expect a tax rate of 15% on each of the property that they purchase.
- Know how the NPS works
Normal Progressive Payment Scheme or NPS is considered as the standard scheme of payment that is used in almost all of the newly launched condominium projects. This is the reason why understanding how the payment scheme works is essential when it comes to planning the clash-flow for the purchase of the property that you are about to do.
Once you have selected and confirmed the unit in Parc Botannia Condo:
- You will be expected to make a 5% payment in cash in favor of the account of the developer while you get the OTP or the option to purchase
- In two weeks time, the developer will then send the S&P or the agreement for Sales and Purchase to the correspondence address that you have provided
- Upon your receipt of the S&P, you will be given three weeks to get the contract exercised at the office of your solicitor. In the event that the contract is not exercised, you will be refunded back with 75% of the amount that you had to pay for the Option Fee.
- If the agreement is exercised, the ABSD and the Stamp Duty will need to be paid within 14 days from the exercise date.
- The remainder of the 15% downpayment can then be paid off within eight weeks from the initial date of the OTP.
- Know how Balloting process works
Before Parc Botannia is launched. There is usually a preview period of a week or two so you get to preview the showflat. This is a chance to get a feel of the price of the unit and its sizes as well. Buyers that will choose to preview the flat at this point will be given the chance to register a seat on the launch date. The registration is non-obligatory though.
The registration allows you to be eligible for the balloting of the units before its public launch where they are going to be sold to the first takers. It is also common for early bird discounts to be given to those purchasers that will be there and will make the purchase on launch day.