
Buying a property that is not on the approved list, underbudgeting for government and due-diligence fees, planning to resell too early, or using an unauthorised agent.
Frequent pitfalls include purchasing real estate that is not a government-Approved Project (only approved units qualify), failing to budget for the separate government and due-diligence fees that come on top of the US$200,000 price, and planning to resell before the three- or five-year holding period is met. Using an agent who is not authorised, or submitting incomplete source-of-funds documentation that fails enhanced due diligence, are also common reasons applications stall or are refused.
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