Hi,
1) This is common during the negotiation stage when the seller request for extension of stay. This is for both parties to discuss and try to achieve a win-win situation for both.
2) This is based on mutual trust, the seller also doesn't want to encounter problems when handover. Thus all cases I had come across, both parties must really be comfortable with the arrangement.
3) Maybe the buyer can negotiate for a lower selling price due to this request.
4) The bank will issue a LOO (Letter Of Offer) after knowing the valuation value of the property and the income document submitted during this application stage.
5) The bank will not back out once they issued a LOO.
6) The loan will disperse a loan a few days or 1 day before the completion. Otherwise, the HDB will not conduct the completion of the sale.
7) Your loan already started clocking on the date of completion.
8) Extension of stay is a private arrangement between seller and buyer. The HDB will not interfere or take up any responsibility whatsoever happened after sales completion.
Hope the above answer to your main concerns, but if there are more query, 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
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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