Extension Of Stay Agreement

The seller must extend his stay by 6 months. Can this be allowed if buyers agree? I have done some research, but I would like to ask everyone`s opinion on the advantages and disadvantages of such an extension. It appears from my research that this is mainly a gesture of goodwill, since the buyer would assume full responsibility in case of damage or problems that occur during these three months. In addition, no rent is paid and there is no formal lease that leaves the buyer open to all types of debts. The seller wants to request the temporary renewal of the stay, but the buyers do not agree. Can he still apply, since it takes him time to renovate the apartment he buys? Buyers and sellers must fulfill their respective obligations and responsibilities as part of the temporary renewal of the stay. HDB will not communicate in the event of a dispute; Buyers and sellers exempt HDB from any deed or claim authorizing their private agreement to temporarily extend the stay by the sellers. The agreement that allows sellers to temporarily extend their stay is a private agreement between buyers and sellers. The two parties may discuss and agree on the conditions for the renewal of the stay and possible financial compensation from the sellers of housing to the buyers of housing. No no. The seller can only apply for the temporary renewal of the stay if he has committed to purchase a finished residential unit in Singapore. In this case, the BTO apartment is not yet finished. The seller signed the contract for the sale of a BTO apartment.

The apartment will be ready in a year. Can he request the temporary extension of the stay? Liability for the duration of the extension of the property. Dh: Check the delivery date before the extension. The condition should be as correct as after enlargement. Does the extension of stay end automatically at the end of the three-month period? Yes, the extension of the stay ends automatically at the end of the three-month period. Can the buyer and seller prematurely terminate the extension of the stay? How do they do that? Home buyers are required to notify HDB if the extension is terminated before the three-month expiration. You can do this via My HDBPage. Can HdB mediate disputes between buyers and sellers of homes? As the renewal of the stay is a private agreement between buyers and sellers of housing, HDB is not able to play a role of mediator in case of dispute between buyers and sellers of housing. Imagine this: you`ve found a buyer and everything is fine, but what if you can`t move in time for the resale date? We have good news – HDB allows sellers (or in this case ex-owners) to stay in their legally sold home for a limited period of time, a request that is also known as a “temporary extension of stay”.

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