Extension Of Stay After 2nd Appt - Legal Implications?

[tower 0]

I seriously need to seek advice from the forumers here. I am aware that I would have to hand over the keys during the 2nd HDB appt. But due to some reasons, I would have to extend my stay by 1 more month. If the buyer does not want to accept my offer of a month's compensation, what are the legal implications and what is the financial penalty I would have to fork out? Pls advise. Thks.

[zirhk3355 1]

I seriously need to seek advice from the forumers here. I am aware that I would have to hand over the keys during the 2nd HDB appt. But due to some reasons, I would have to extend my stay by 1 more month. If the buyer does not want to accept my offer of a month's compensation, what are the legal implications and what is the financial penalty I would have to fork out? Pls advise. Thks.

Legally and strictly speaking you are not supposed to stay there after the transaction is done. Whatever arrangement with the buyer is not legal and it is undertable, quietly do one...so if the buyer does not allow you to stay, there is nothing you can do except to void the deal and prepare yourself to be sued by buyer.

Since its only one month, talking nicely to the buyer and not legal or whatever; you are at the buyer's mercy on this. Otherwise, just go find a place to rent for one month lor...

[clockwork 0]

I seriously need to seek advice from the forumers here. I am aware that I would have to hand over the keys during the 2nd HDB appt. But due to some reasons, I would have to extend my stay by 1 more month. If the buyer does not want to accept my offer of a month's compensation, what are the legal implications and what is the financial penalty I would have to fork out? Pls advise. Thks.

Hi there ,

I recently sold my flat and made arangments with the buyer for an extension of 2 mths instead of 1 mth.

Before the OTP was signed , we discussed the COV , which the buyer wish to neg .

So we compromised , I reduce the COV to 2K lesser and we get 1 more mth extension , just in case my new home is not done renovating.

All of us are aggreable and happy with the neg...So we're now just waiting for our 1st appt.

[tower 0]

Hi there ,

I recently sold my flat and made arangments with the buyer for an extension of 2 mths instead of 1 mth.

Before the OTP was signed , we discussed the COV , which the buyer wish to neg .

So we compromised , I reduce the COV to 2K lesser and we get 1 more mth extension , just in case my new home is not done renovating.

All of us are aggreable and happy with the neg...So we're now just waiting for our 1st appt.

Well not every buyer is as understanding as yours. I had 3 kids and my wife was 4 mths pregnant. My buyer insisted that I stick to the handover date. To him, money was not an issue. I even offered $2500, well above the market rental rate for a 5rm unit but he wouldn't budge. So what to to, I LL lor. Still have to shift out eventually.

[poseidon_gal 0]

I heard this from an HDB officer when i went for the resale seminar some time back.

Buyer agreed to let seller family stay after completion date due to good will.

Seller's daughter hang herself in the master bedroom.

So what can the buyer do since the 2nd appt has already been completed and the house is legally his??? LL lor..

[zirhk3355 1]

I heard this from an HDB officer when i went for the resale seminar some time back.

Buyer agreed to let seller family stay after completion date due to good will.

Seller's daughter hang herself in the master bedroom.

So what can the buyer do since the 2nd appt has already been completed and the house is legally his??? LL lor..

I can see that HDB is getting creative in persuading people not to overstay after the 2nd appt...

Such things are not unique to people who allow the sellers to overstay after resale; it can happen before the 2nd appt, on the day of the 2nd appt, and also to landlords who rent out their residential properties.

If I am not wrong, the hanging cannot constitute a good reason to void the resale transaction even if the 2nd appt is not over yet; legally, the flat is still in the same condition as per before the hanging.

So what is the point that the HDB officer is driving at?? If the media gets evidence that he said that, I am sure he will get into alot of unnecessary trouble.

[CareBear 0]

Yeah, sounds horrific...

[666 0]

I feel b4 you even close the deal, you should have negotiated with the buyer to allow you to stay for another month more. If he decided not too, then maybe can refuse the deal.

Not too sure the reason why last minute you wanted to extend 1 more month.

Perhaps you can rent storage area to put all your stuff, and rent a room or stay with parents for time being.

[tower 0]

I feel b4 you even close the deal, you should have negotiated with the buyer to allow you to stay for another month more. If he decided not too, then maybe can refuse the deal.

Not too sure the reason why last minute you wanted to extend 1 more month.

Perhaps you can rent storage area to put all your stuff, and rent a room or stay with parents for time being.

Wanted to reduce the hassle of shifting 2 times originally. Nevertheless, I have shifted into my new hse for a month already. During the interim period where I had no home, I shifted all my furniture and stuff and left it there for a month's storage at Exxxx Movers and the whole family bunked in with my in-laws' place. Case closed liao.

[Msg edited to remove storage/ mover Co. name.. thanks JuzChris]

Edited February 10, 2009 by JuzChris