The Brown Stone EC FAQ (Frequently Asked Questions)

When is the Brown Stone EC open for booking?

TARGET PREVIEW DATES (Exact dates to be finalised)
Showflat Viewing: 10 – 20 July 2015
E-Application: Closes 20 July 2015
Price Release: 23 July 2015
Balloting & Booking: 25 July 2015

To register for the showflat viewing, or to do the e-application to register interest, just drop your contact details here.

The Brown Stone EC by CDL

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What must I do to book a unit at the Brown Stone EC?

You must fill in an application form and submit the relevant documents. If you drop us your contact details here, we will help you check your eligibility and arrange for your application.

All applications must be registered at the showflat computers (the only official e-application system), that are linked to the HDB system.

Note: Applications cannot be done via HDB website. Websites with online e-application forms are NOT linked to the HDB system either.

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Am I eligible to buy a unit at the Brown Stone EC?

You are if:
. You are a Singapore citizen and your partner is a Singapore citizen or PR.
. At least 21 years old.
. Your total household monthly income does not exceed $14,000.
. You form an essential family nucleus as defined by HDB.
. You & your partner have not bought a flat direct from HDB or with a grant more than once.
. None of your family nucleus has owned private property within the last 30 months.

That was the short answer; for detailed criteria including definition of a family nucleus, see The Brown Stone EC Eligibility.

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Can I buy the Brown Stone EC if I currently own a HDB flat?

Yes, if you
. Have not bought a flat direct from HDB or with a grant more than once.
. Have already stayed in your HDB flat at least 5 years if bought direct from HDB or with a grant.
. If your resale flat was bought without a grant, you must fulfil your MOP before the Tenet EC gets TOP.

You must also sell off your current HDB flat within 6 months of TOP of the Brown Stone EC.

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When can I sell or rent out my Tenet EC unit?

. Can be sold to Singapore citizens or PRs after 5 years.
. Can also be rented out to anyone after 5 years.
. Fully privatized after 10 years. Can then be sold to anyone, including foreigners or developers.
. Can also do decoupling after 5 years, if wish to buy new private condo, like the upcoming Liv @ MB.

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What benefits do 1st Timer Buyers get?

. May be eligible for the CPF housing grant, up to $30,000 to help pay the 15% downpayment.
. Priority in selecting a unit (70% of the units are reserved for 1st timers in the 1st month).

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Can 1st Timer Buyers ‘keep’ the Housing Grant for use in the next BTO / EC purchase instead?

• No. The CPF Housing Grant cannot be kept for the next BTO / EC purchase.
• Furthermore, even if you don’t take the grant to buy your Tenet EC unit, you will still be subject to the resale levy if you buy a new BTO / another new EC in future.
• So if you are eligible, it is best to avail yourself of the CPF Housing Grant now.

See details on the amount of CPF Housing Grant, and eligibility, at this link (opens in new window).

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What benefits do 2nd Timer Buyers get when buying the Brown Stone EC?

• Buyers with existing housing loan may still get up to 80% loan even if you have an existing housing loan (unlike for private condos).
• Not affected by the CPF Minimum Sum rule when using your CPF funds.

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What’s the payment schedule like for the Brown Stone EC?

If you opt for Normal Payment Scheme (NPS):

• First 5% cash (via a cheque) at the time of booking a unit.

• Next 15% within 9 weeks (typically) of booking a unit at the Tenet EC. This 15% can be from the CPF Housing Grant, or from your CPF funds, or from your savings.

• The remaining 80% can be from CPF funds, bank loan, or cash. This is payable progressively, which means you (or the bank from which you take the loan) disburses the money as and when construction work reaches certain stages. If you take a loan, your monthly instalments start relatively small and gradually increase.

If you opt for Deferred Payment Scheme (DPS) (purchase price is around 2 to 3% higher):

• First 5% cash (via a cheque) at the time of booking a unit.

• Next 15% within 9 weeks (typically) of booking a unit. This 15% may be from the CPF Housing Grant, or from your CPF funds, or from cash.

• Neither you nor the bank (if you are taking a loan) pays anything till the project completes. At that point, upon TOP, you / your bank will need to pay another 65% of the purchase price. So your mortgage repayments start at this point, based on whatever the bank disburses.

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Do I have to pay any admin charges or commissions or agent fees?

No, there is no charge at all. We provide you all the information, and help you book your unit directly from the Tenet EC developer, at no charge. No obligation either.

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THE BROWN STONE EC . E-APPLICATION

For queries on the above, or to register for updates / e-application, or for a showflat viewing, please email us here.