The seller must extend his stay by 6 months. Can this be allowed if buyers agree? 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. Who should ask for a temporary extension of stay – seller or buyer? Both sellers and buyers must indicate in the resale application form that they have accepted and have entered into the stay renewal agreement. THE CUSTOMER relations manager HDB Resale will explain to buyers and sellers the conditions of the extension of the stay during the first date. After confirmation by both parties, buyers are required to pay a $20 administration fee for processing the application. When should sellers and buyers sign the private contract to allow for a temporary extension of stay? Do they have to submit the private agreement to the HDB? The private agreement is an agreement reached by both buyers and sellers. The buyer and seller can decide between them when they wish to sign the agreement, as well as reflections on the agreement. The agreement is responsible for a stamp duty to be paid to the Inland Revenue Authority of Singapore. The agreement should not be submitted to HDB, as it is a private agreement between buyers and sellers. Do the seller and buyer have to provide supporting documentation when they request a temporary extension of stay? If so, when should the documents be filed? Sellers must prove that they have committed to buying a completed apartment or property in Singapore, which is ready to buy, i.e. has exercised an option to purchase or signed a sales and sale contract.
Documents may be filed after the resale application has been filed or during the first sale date. Do buyers and sellers need to enter into a formal agreement to allow sellers to temporarily extend their stay? What should be written in the agreement? The buyer and seller must request the temporary extension of the stay at HDB if the sellers need more time to settle in their home. Otherwise, homebuyers would be considered a violation of the Housing and Development Act and the general terms and conditions of sale and purchase of the dwelling. HDB will take appropriate enforcement action against home buyers that will allow sellers to extend their stay in the apartment without HDB`s consent.