Why need to sign DRAFT SPA ?  This is unfair.

Some "hot" selling projects may ask buyers to sign Draft SPA simply because they want to LOCK IN the sales as early as possible.

However, all these practice is unethical and is wrong as far as legal professional code of conduct and HDA are concerned.

I am still quite puzzled. What is the need for draft ?

Many developers just lock in the buyers by giving them the actual SPA but just delay in getting them stamped, 3 months or 6 months or whatever.

Because they want to only stamp the SPA until they got enough buyers. Otherwise they will be very stressed by cash flow problem.

So why draft ? Just not making sense.

They can modify the layout and they probably are thinking going to modify it, that's why they don't want you to initial on it. Because if you initial all pages and then they suddenly change the layout, then the changed copy will not have initial. If you don't initial any pages, then they are free to change. That's what I mean.

First time I see this signing draft SNP.... Japan style? I won't sign it if I bought a unit there... It's not fair!

Izzit the Singh and Chu law firm??

I know this is slightly out of topic but I guess would benefit the buyers on this property as well seeing how shady the process is..been following this thread closely especially about signing S&P. I'm about to buy my second property but still a bit clueless about what I should really look out for in the agreement other than a few important things such as,

1. Price obviously
2. Completion time - 36 or 48 months etc.
3. Layout Plan
4. Unit number, unit layout
5. Carpark allocation
6. Facilities
7. Sinking Fund
8. Defect Liability period

Anymore other things we should look out for in the agreement? Thanks to all sifus   

You need to aware on Adjustment rate that will determine penalty by developer in case the actual built up smaller then SPA...

Completion date actually is follow by HDA, developer can't change it unless got approval from MOH.
So you should know it before buying and no point make noise upon signing since you only got option by sign or not sign...

That actually is part of 2 law firm name...

actually how does Japanese people do? 

boss, u geng ah..salute salute... 

i am worry on dobson instead of the spa and sales.

  shud be no problem la..unless they wan to tell what dobson said is false info.

i wonder after office hour, who is going to manage the developer's a/c?