Both parties are encouraged to have a written agreement signed by both buyers and sellers, rather than having a simple oral agreement to avoid future potential litigation. If you agree to buy a finished property in Singapore and need more time to relocate it, you can agree with buyers a temporary extension of stay in the apartment up to 3 months after the resale closes. We recommend that you discuss this with the buyers while you negotiate the sale of the apartment. The temporary extension of the stay is subject to the agreement of the home buyers and the application must be filed with HDB at the time of the resale application. Both sellers and buyers must declare, when filing their respective parts of the resale application, that there is a temporary renewal agreement. HDB will then process the application and inform sellers and buyers to confirm it before the extension begins on the resale completion date. An administrative fee of USD 20 (including GST) is due by home buyers, as future apartment owners accept the extension. The temporary extension of the stay is considered a private agreement between home sellers and buyers. You can sign a private agreement on the terms of renewal of the stay, including any financial compensation to be paid to buyers by the sellers of housing. This agreement should not be displayed hdb.
No no. The seller can only apply for a temporary extension of the stay if he has committed to purchase a dwelling in Singapore. In this case, the BTO apartment has not been completed. The seller wishes to request a temporary extension of the stay, but the buyers do not agree. Can he still apply because he needs time to renovate the apartment he is buying? Buyers and sellers must fulfil their respective obligations and responsibilities in accordance with the conditions of the temporary extension of the stay. HDB will not act as a mediator in the event of a dispute; Buyers and sellers must compensate HDB for any action or claim for allowing their private agreement for the temporary extension of the stay by the sellers. You can submit your application for a temporary extension of stay via MyRequest@HDB. You and the buyer must sign the temporary extension form after resale in the presence of an HDB customer relations manager. You can download the form from the HDB website. A black-and-white agreement will avoid possible quarrels in the future. The seller signed the contract to sell and sell a BTO apartment. The apartment will be ready in a year.
Can he apply for a temporary extension of his stay? I have done some research, but I would like to get everyone`s opinion on the pros and cons of granting such an extension. My research shows that this is usually a gesture of goodwill, as the buyer would take full responsibility for the damage or problems that arise during those three months. In addition, no rent is paid and there is no formal tenancy agreement that leaves the buyer open to all kinds of debts. What if home sellers/buyers had not applied for HDB renewal? Will homebuyers be punished if they are discovered? Imagine: you`ve found a buyer and everything is fine, but what if you can`t move in time for the completion date? We have good news – HDB allows sellers (or ex-owners in this case) to stay in their apartment legally sold for a limited time, a request that is also known as “temporary extension of stay”.