I am a Petalz buyer and here is the payment schedule:
Schedule of Payment of Purchase Price :-
% Paid Pmt Date
1 Immediate upon the signing of this agreement (Booking Fee) 10% 24-Jun-13
Balance of 10% upon signing S&P 10-Mar-14
2 Within 21 working days after receipt by the Purchase of the Vendor's written notice of the completion of:
a work below ground level of the building - incl foundation 10% 14-Dec-14
g drains serving the building 5% 14-Mar-15
h roads serving the building 5% 14-May-15
As you can see, the booking fee was paid on 24 Jun 2013 and the S&P signed on 10 Mar 2014. It was 6 months from the promised S&P signing date.
The rest of the collections was quite fast.
Exactly. When booking fee was paid in 2013. I heard that the property will be completed on 2016 but somehow the S&P delayed almost a year....