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I am almost at the verge of sealing a deal with a seller for a private property (Condominium) but the deal includes an extension of stay for 3 months. I understand that there is a rule in HDB to register for the extension of stay while selling a HDB property.

What is the right way to do it for a Condo - a tenancy agreement for 3 months from sale or mutual agreement or include the date in OTP itself?

And what goes into such an agreement?
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2 Answers

Hi Ben, for private property transaction, it will be drafted into the OTP and handed over to the lawyer to process it accordingly. So if you agreed to the extension of stay for another 3 months, the seller agent will then have this item drafted in the OTP before handing the original copy to you.

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Aaron
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Dear Ben,

In most cases, the more straightforward way is to pen down the extension into the Option To Purchase.

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