When purchasing a property in Singapore, you may come across the term "TOP".

 

So, what does it stands for?

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Temporary Occupation Permit (TOP) is a temporary permit issued by the authorities to allow owners to occupy the building.

 

This permit is only issued upon key regulatory requirements for the development are met and approved by the authorities.

 

In addition, the development also needs to obtain Certificate of Statutory Completion (CSC) in order to be cleared completely by authorities.

 

Upon TOP, Owner's Mortgage loan will be payable at the TOP stage only.

 

This means lower monthly installments till CSC is cleared.

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In some cases, the CSC is issued together with the TOP.