Deferred Payment Scheme

Описание: A Deferred Payment Scheme refers to a payment arrangement offered by developer, mainly for EC buyers, where the buyer forks out only a certain percentage (usually 20% to of the purchase price) as a down payment and reserves the unit.

After the initial payment, the next payment is deferred. Depending on the developer’s rules, the next payment usually comes two or more years later once your unit obtains TOP (Temporary Occupancy Permit). There is no need to pay anything during the build period (typically the next two or three years).

This means the Executive Condo buyer could pay the downpayment and then have some time to save up for the remaining payment.

With this flexibility, most Deferred Payment Scheme usually comes with an added interest of 3-4% on top of the selling price depending on the developer.

Pros:

20% Downpayment to secure a unit
Delayed payment for the next 2-3 years

Cons:

Added 3-4% interest on top of the selling price

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