Hi forgive me for being really new in property here but say I was eyeing an affordable project that's gonna be completed in 2019 and say I registered for it and got it. My question is, when do I start paying for the project, both the deposit and monthly loan commitment.

Thanks

Upon receiving letter from bank

deposit: when you sign SPA, etc.
loan: when developer start build the properties = developer take the money from bank.......

I suppose you have paid a deposit upon booking.
Then pay 10% of the property price minus the deposit upon signing of SPA.
Refer to Schedule H for the percentage of each remaining stage payment.

Loan commitment start when your bank start paying money on behalf of you.

the booking fee is paid when you register your interest in the project.

the deposit is usually paid when you execute the Sale and Purchase Agreement together with the loan agreements.

your monthly loan installments however is only payable when the Developer issues their first progressive payment claim to your Bank however depending on some developers.

*progressivee payment claims means the claim for monies by the developer for completed stage of construction of the project (eg. piling, frameworks, wirings etc). you can refer to schedules at the back of your Sale and Purchase Agreement for the relevant stages and the percentage of claims but take note though, it is not necessary for the stage to follow through from stage a to z.

Got some questions here...

What do you mean by "execute S&P Agreement"?
When we sign the S&P, will the developer indicate the date on the document? Or they insert in later on?
Some developers chasing buyers to pay up 10% deposit but sign S&P later date, typical?
Possible to pay 10% deposit after signing S&P?
Deposit can use credit card to pay?

Thanks...

"Execute S&P Agreement" means the act of you signing the agreement. The Developer usually will not date the agreement on the date of your signing. It will be left to the solicitors to do so and usually the date will fall on the date where the solicitors present same for stamping at the relevant authority but depending on the Developer, some will drag on for months because the AP/DL is pending. You need to check with your respective sales agent.

It's very typical for Developer's to be greedy in getting monies before signing the agreements but most of the time, balance deposits are paid at the time the agreement is ready for signing. Commonly, only booking fees (2% or 3%) is paid to the Developer/Agent to secure the unit.

Technically speaking, you are only paying either 7% or 8% of the deposit since you most probably already paid the 2% or 3% during your booking earlier on.

You have to check with the Developer's office if they accept credit card. Some does, some don't. There are no general rules for this.

Thanks a lot