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Hi,

I sense both parties (seller & buyer) are DIY. This is one of the reason you should engage sales rep or lawyer than just website advices.

Under HDB rules and regulations, it is not uncommon to have extension upon sales completion, HDB just merely collect an admin fee for the extension than anything else.

In signing an extension stay contract, real estate salesperson will prepare a temporary tenancy agreement for both parties to agree and sign, submit to HDB for acknowledgement.

In your case, following are the problem and suggestions:
(1) Mutual agreement, what does it contain, is it sufficient to cover all duties and responsibility for both parties?
If this is merely a "one" statement agreement, this is normally known as gentlemen agreement, thus when things go nasty, there will be lots of argument and leading to bigger problem leaving unpleasant & unhappiness between both parties.
Suggestion: Get a formal contract for both parties to understand the rules and regulations to reduce future disputes.

(2) All current & future owners should ink on the agreement.

(3) A 3rd party witness must be there.

Though not necessary invalid, but due to gaps in understanding what did both parties commit to, we have to pray hard everything went well.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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Hi,

Any private mutual agreement is not valid in the eyes of HDB. As a Buyer of a HDB flat, you are supposed to fulfill your 5-year MOP before you can "sublet" the unit out.

The only chance that "proper extension" is given and approved by HDB, is that the Sellers have already committed to their next purchase prior to their 1st Appointment for their Sale. And even so, this is also for a maximum of 3 months, nothing longer. There is also an official form from HDB for all parties to fill in and sign for this.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More