Asked by Anonymous
Hi. I’ve recently sold my 4 room flat. Asking price was $430k but buyer offered $410k. I accepted the offer with the inclusion of 2 months extension of stay after completion. I subsequently found a 3 room flat and did contra. This is at the early stage of the transaction. OTP was at end of May. Our completion is end of September. Now the buyers are threatening to terminate the extension after the completion because apparently they weren’t happy with the timeline (end May OTP and completion is end Sep) They think the contra deal on my end is causing the delay and have told me that they wouldn’t have bought my house if they were informed that it’s a contra case on my end( their agent should have told them) the question is can they terminate the extension of stay after signing the completion without any ramifications? Both of us signed a mutual agreement of stay and did the HDB endorsement online via Singpass
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