Temporary Extension Of Stay Agreement

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. What if home sellers/buyers had not applied for HDB renewal? Will homebuyers be punished if they are discovered? 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? 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. Does the seller/buyer have to tax a seller in order to have the temporary renewal of the residence agreement? As in the case of a resale transaction, the seller and buyer can decide whether they wish to establish the private agreement themselves or hire a seller. Can buyers and sellers who have ordered the services of a seller prepare for the temporary renewal of the residence contract on their own? That is, without the seller. Is that possible? Yes, yes.

Even if the services of a seller have been ordered for the sale (seller) or purchase (buyer) of the apartment, the sellers of housing and buyers can develop themselves the contract of temporary renewal of the stay. You should discuss this topic in advance with the seller they have hired and make their position known. If you are unable to relocate immediately after the closing of the sale, you can agree with the buyers to temporarily extend your stay at the apartment for up to 3 months after the closing of the legal transaction. 5. Finally, can we pick up our keys on the second date? Or do you think the seller will continue with the extension? By the baffled resale HDB buyer Image: You`ve found a buyer and everything is fine, but what if you can`t move in time for the resale closing 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”.