When you purchase a property, there are two different type of progressive payment schedule, one is for the link house type property and the other one is for sub-divided and town villa type property.

Installments Payable for Link House		%
1	Immediately upon signing of this Agreement	10
2	Within twenty-one (21) working days after receipt by the Purchaser of the Vendor's written notice of the completion of:
	the foundation and footing works of the said Building	10
	the reinforced concrete framework of the said Building	15
	the walls of the said Building with door and window frames placed in position	10
	the roofing, electrical wiring, plumbing (without fittings), gas piping (if any) and internal telephone trunking and cabling to the said Building	10
	the internal and external plastering of the said Building	10
	the sewerage works servings the said Building	5
	the drain serving the said Building	5
	the roads, drains and sewerage works serving the said Building	5
3	On the date the Purchaser takes vacant possession of the said Building, with water and electricity supply ready for connection.	12.5
4	Within twenty-one (21) working days after receipt by the Purchaser or the Purchaser's solicitors of the separate document of title to the said Lot together with a valid and registrable Memorandum of Transfer to the Purchaser duly executed by the Vendor or on the date the Purchaser takes vacant possession of the said Building, whichever is later.	2.5
5	On the date the Purchaser takes vacant possession of the said Building as in item (3) and to be held by the Vendor's solicitor as stakeholder for payment to the Vendor as follows:-	5
	two point five per centum (2.5%) at the expiry of six (6) months after the date Purchaser takes vacant possession of the said Building;
	two point five per centum (2.5%) at the expiry of eighteen (18) months after the date Purchaser takes vacant possessions of the said Building
	Total	100%
Installments Payable (for sub-divided building (Strata) or Townvilla)		%
1	Immediately upon signing of this Agreement	10
2	Within twenty-one (21) working days after receipt by the Purchaser of the Vendor's written notice of the completion of:
	the work below ground level including piling and foundation of the said Building comprising the said Parcel	10
	the reinforced concrete framework and floor slab of the said Building	15
	the walls of the said Parcel with door and window frames placed in position	10
	the roofing, electrical wiring, plumbing (without fittings), gas piping (if any) and internal telephone trunking and cabling to the said Building	10
	the internal and external plastering of the said Building	10
	the sewerage works servings the said Building	5
	the drain serving the said Building	5
	the roads, drains and sewerage works serving the said Building	5
3	On the date the Purchaser takes vacant possession of the said Parcel, with water and electricity supply ready for connection to the said Parcel	12.5
4	Within twenty-one (21) working days after receipt by the Purchaser of the written confirmation of the Vendor's submission to and acceptance by the Appropriate Authority of the application for subdivision of the said Building	2.5
5	On the date the Purchaser takes vacant possession of the said Parcel as in item (3) and to be held by the Vendor's solicitor as stakeholder for payment to the Vendor as follows:-	5
	two point five per centum (2.5%) at the expiry of six (6) months after the date Purchaser takes vacant possession of the said Building;
	two point five per centum (2.5%) at the expiry of eighteen (18) months after the date Purchaser takes vacant possessions of the said Building
	TOTAL	100%

Please take note that after the purchaser takes the vacant possession means after the purchaser is able to stay in the property. There is still 5 percent of the total purchase price being held at the property developer's solicitor.

This remaining 5% will be pay to the property developer in two stages, 2.5% each after 6 months and 18 months after the date the purchaser takes vacant possessions.

Probably this 5 percent is the money that is to be used for any defects compensation, repair fees during the  warranty period.

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