VIP Preview: Shortlist Your Units
The VIP preview is the “pre-launch” stage where buyers visit the showflat, study the site plan and unit layouts, and decide what to target. This is where most of your work should be done—because booking day moves fast.
- Study layout efficiency: compare unit types and liveability (avoid wasted space).
- Check facing & site plan: sun direction, privacy, road noise, bin centre, facilities and drop-off.
- Prepare financing early: ideally secure an IPA.
Own another property or servicing an existing mortgage?
Your eligible loan amount may change due to LTV limits, TDSR requirements, and bank credit policies for multiple-property buyers.
If this is your second (or subsequent) housing loan, financing constraints can directly affect your maximum purchase budget. Read: Housing Loan Information (IPA, LTV, TDSR, Multiple Loans).
- Shortlist backups: prepare a ranked unit selection list — typically 20–30 acceptable choices for hot launches.
Practical Tip: Treat preview like “exam preparation”. The faster you can decide on booking day, the better your chance of securing a strong stack—especially for popular 2BR/3BR layouts.
Cheque Cut-Off: Submit EOI & Documents
To qualify for the ballot, buyers typically submit an Expression of Interest (EOI) before the developer’s cut-off. This registers you as a serious buyer and puts your name into the queue allocation process.
Common documents requested before cut-off:
- EOI: Expression of Interest form
- LOA: Letter of Authorisation (if applicable)
- ID copy: NRIC / Passport
- Cheque to developer: amount & payee details provided by developer
Important: In most launches, the cheque is only banked if you successfully book a unit. If you don’t secure a unit, the cheque is usually returned (always verify the developer’s procedure for that project).
Data Merging & Verification
After the cut-off, the developer consolidates all EOIs collected from marketing agencies and performs checks to ensure fairness.
- Consolidation: all EOIs are merged into a master list
- Duplicate checks: duplicate/invalid entries are removed
- Missing data: incomplete submissions may be flagged for clarification
E-Balloting: Queue Number Allocation
E-balloting assigns your queue number for booking day. Your queue number determines when you get to enter the sales gallery (or selection session) to choose your unit.
What your queue number affects:
- Selection time slot: earlier slot = more unit choices
- Availability: popular stacks can be taken quickly
- Decision speed: hesitation can cost you your preferred unit
Note: Ballot numbers are typically random. Submitting earlier helps you avoid missing the cut-off, but it doesn’t guarantee a better queue number.
Booking Day: Secure Your Unit
Booking day is when the official price list is released and buyers select units in queue order. This is when the unit is reserved under your name and the booking fee is paid.
What usually happens on booking day:
- Price release: official pricing is provided to buyers in queue
- Unit selection: buyers select based on live availability
- Booking fee: typically 5% is paid to secure the unit
- OTP issued: Option to Purchase is granted after booking
Tip: Go in with a clear unit selection priority list — at least 20–30 ranked choices for hot projects. If your first choice is taken, you can move immediately without hesitation.
After Booking: OTP, Exercise, Stamp Duty (BSD/ABSD) & S&P
After you secure a unit, the timeline moves into the legal and payment phase. For most new launches, you will go through: (1) OTP issued → (2) Exercise OTP → (3) Pay stamp duties (BSD/ABSD if any) →
1) OTP issued (Booking Day)
- Booking fee: typically 5% is paid to secure the unit.
- OTP: the developer grants you the Option to Purchase.
2) Exercise the OTP (within the option period)
“Exercising” the OTP means you confirm the purchase by signing the option documents and paying the exercise amount (commonly the additional 15% to reach 20% downpayment for many new launches, subject to the project’s payment structure). Once you exercise, your legal obligations and deadlines start to matter a lot more.
Why this step matters: For stamp duty purposes, the date of purchase/acquisition is commonly tied to the date of exercise of the OTP (or the date of the Sale & Purchase Agreement if no OTP is granted). Plan your cash/CPF timeline early.
3) When do you pay Stamp Duty & ABSD?
In Singapore, stamp duties are paid on the signed contract/agreement (your lawyer will usually help with e-Stamping). As a practical rule:
- Buyer’s Stamp Duty (BSD): payable within the required stamping deadline after the contract/agreement is signed.
- Additional Buyer’s Stamp Duty (ABSD): if you own more than one property (or are otherwise ABSD-liable), ABSD applies and is paid together with BSD within the same deadline.
- Stamping deadline: generally within 14 days after signing if executed in Singapore, or within 30 days after the document is received in Singapore if executed overseas.
If you own 1+ properties, always model your ABSD exposure early. For a full explainer and examples, refer to: Singapore Stamp Duty Guide (BSD / ABSD / SSD).
4) Sign the Sales & Purchase (S&P)
After exercising the OTP, the developer’s lawyer prepares the Sales & Purchase Agreement. This formalises the contract terms and payment schedule.
5) Progressive Payments (Building Under Construction)
For most new launches, payments are made in stages based on construction milestones (e.g. foundation, framework, roofing, TOP). This spreads out your cash/loan disbursement over the construction period.
If you want to see the cashflow structure stage-by-stage, refer to: New Launch Progressive Payment Scheme.
Buyer Checklist (Before You Enter The Ballot)
- Know your budget: comfortable monthly instalment + cash/CPF for downpayment.
- Get IPA: confirm loan eligibility early.
- Shortlist stacks: include backups + a ranked list for hot launches.
- Understand stamp duties: BSD + possible ABSD if you own another property.
- Know post-booking deadlines: OTP exercise timeline + stamp duty window after signing.
- Prepare documents: NRIC, LOA (if any), cheque instructions.
Want the “pre-viewing finance” version of this checklist? Read: Financial & Strategy Checks Before Viewing.