Seller Request To Stay For 1 More Month, Can Advise Me

[dean 5]

Dear experts.

I have recently bought a resale flat and seller agent told my agent that seller has requested to stay for 1 more month after completion or collection of key.

2 week later going for 1st appointment, so estimated 2nd appointment on early August 09.

The reason for doing so is because I presume once 2nd appointment completed / collection of key, the flat will be transferred to my name and I will be liable for all outgoings and anything that happens during the 1 month extension that the seller requested for.

During OTP, the seller agreed to lower COV as their valuation report is going to expired in few days time and they are eager to sell flat immediately.

Can I still ask for 1 month rental may be below market rate just to compensate me HDB 1st installment and they must pay ulities bill and whatever bills incurred during this period.

Thank you.

Edited May 29, 2009 by dean

[rendell 0]

Dear experts.

I have recently bought a resale flat and seller agent told my agent that seller has requested to stay for 1 more month after completion or collection of key.

2 week later going for 1st appointment, so estimated 2nd appointment on early August 09.

The reason for doing so is because I presume once 2nd appointment completed / collection of key, the flat will be transferred to my name and I will be liable for all outgoings and anything that happens during the 1 month extension that the seller requested for.

During OTP, the seller agreed to lower COV by 50%. Can I still ask for 1 month rental.

Thank you.

From my personal opinion, if the 50% COV is enough to cover the 1 mth rental, I would not ask for the rental.

The seller may be really short of cash, that's why they agree to lower COV by 50%.

They will be grateful to you forever if you will help them tide thru and you really wouldn't loss out and have good blessing.

However, you have to make sure they are liable for all damages and utilities incurred during that period.

[hihihi 0]

it's a goodwill thingy. Sometimes can be returned with goodwill or simply dump into the dustbin.

Mine also requested for 1mth extension for a lower COV, out of goodwill, we let them stay. But in the end, they even took away the signage "#11-123" outside the door. It's not that we gian that signage, but it's the gesture that's erm.... questionable.

[dean 5]

From my personal opinion, if the 50% COV is enough to cover the 1 mth rental, I would not ask for the rental.

The seller may be really short of cash, that's why they agree to lower COV by 50%.

They will be grateful to you forever if you will help them tide thru and you really wouldn't loss out and have good blessing.

However, you have to make sure they are liable for all damages and utilities incurred during that period.

Thanks. Are you refer to those utilities bill they required to pay.

Of course they must pay utilities bills.

When will HDB 1st installment start?

Edited May 29, 2009 by dean

[rendell 0]

it's a goodwill thingy. Sometimes can be returned with goodwill or simply dump into the dustbin.

Mine also requested for 1mth extension for a lower COV, out of goodwill, we let them stay. But in the end, they even took away the signage "#11-123" outside the door. It's not that we gian that signage, but it's the gesture that's erm.... questionable.

Did you strike 4D after that?

[Reiki 0]

The reason for doing so is because I presume once 2nd appointment completed / collection of key, the flat will be transferred to my name and I will be liable for all outgoings and anything that happens during the 1 month extension that the seller requested for.

Can I still ask for 1 month rental may be below market rate just to compensate me HDB 1st installment and they must pay ulities bill and whatever bills incurred during this period.

I was in that situation last year. The seller needed one month extension.

Out of goodwill, I agreed [with no rental] but I got the agent to witness the arrangement. I didn't apply for utilities until they vacated the place. I also made a mutual arrangement where I can go down to the house, at both parties' convenience, for my ID inspection.

Technically, after the 2nd appt, we are already the rightful and legal owner to the unit. Guess, you just have to feel comfortable - and goodwill, in such a situation.

[born_again 0]

Thanks. Are you refer to those utilities bill they required to pay.

Of course they must pay utilities bills.

When will HDB 1st installment start?

Here's some info:

1st appt 2 Mar

2nd appt 5 Mar

HDB 1st installment would be deducted in Jun

Get both agents to draft out the agreement to let sellers stay for another month and since they would probably still hold on to the utility account under their names so they'll have to pay for it.

Maybe u can just ask for the conservancy fees for that month so that the sellers wont take it that they can easily take advantage of u. Win-win situation. Everything done in goodwill as there are instances whereby some sellers 'damage' some of the things before the moved out when the buyers are mean to them.

sellers have already reduced the COV by 50% so its really up to u whether u want to collect rental fee from them. I was ever in this situation years ago. Seller wanted to stay on for more than a month and the seller's agent (we didnt have any agents) also felt we should not collect any rental. We didnt know the market practice back then so gong gong agreed. Luckily seller found a place and pang-tang that she had to move out before 6th month of the lunar calendar so she only extended for a week after 2nd appointment.

Edited May 30, 2009 by born_again

[ncy 0]

Seems like a good deal. Last yr, I had a deal although it didnt went through for some other reasons, I also agreed to let seller stayed there for extra 1mth longer. COV reduced from 13k to 11k because I thought its ok since the going rate of the rent also is about there. But you got a 50% reduction in COV which is so much better.Its mostly a mutual consensus thing. If you feel like it, and they also feel that way too, then I guess its a GO

[dean 5]

Seems like a good deal. Last yr, I had a deal although it didnt went through for some other reasons, I also agreed to let seller stayed there for extra 1mth longer. COV reduced from 13k to 11k because I thought its ok since the going rate of the rent also is about there. But you got a 50% reduction in COV which is so much better.Its mostly a mutual consensus thing. If you feel like it, and they also feel that way too, then I guess its a GO

I don't mind. after signing OTP, the seller want to take out ceiling fan. Then agent talked to his seller agent. they Finally agreed ceiling fan will not remove.

I am afraid that they (seller) will play play any trick.

As for COV, cannot saying 50% off, they agreed lower COV due to their valuation report expired in few days time, they in deed need to sell house asap cos they got hdb Exec cond unit.

Thanks reply, my agent will ask for a proper draft agreement to play safe. It is not i gain their ceiling fan.

Edited May 30, 2009 by dean

[born_again 0]

I don't mind. after signing OTP, the seller want to take out ceiling fan. Then agent talked to his seller agent. they Finally agreed ceiling fan will not remove.

I am afraid that they (seller) will play play any trick.

As for COV, cannot saying 50% off, they agreed lower COV due to their valuation report expired in few days time, they in deed need to sell house asap cos they got hdb Exec cond unit.

Thanks reply, my agent will ask for a proper draft agreement to play safe. It is not i gain their ceiling fan.

afraid that the seller will play play any trick? draft the agreement and do a detailed inventory checklist to ensure that they dont remove whatever is agreed to left behind

Edited May 30, 2009 by born_again

[dean 5]

afraid that the seller will play play any trick? draft the agreement and do a detailed inventory checklist to ensure that they dont remove whatever is agreed to left behind

thank you for your advise. I not sure FSM if ceiling fan good in bedroom.

Really so ma fan. I got 1 month delay. Reno work can be done by end of year.

[just4this 0]

I am in such situation twice.. once is my own situation (which i m going through now as a seller, requesting to stay after selling) and the other as a middle man asking my sis to sell to my fren.

1st Situation.

My sis agree to sell the place to my fren and lower abit the COV if my fren agree to let her stay on for a month after the completion. My fren and his wife agree and therefore the sales went on. BUT, during the end of the 2nd appointment, things got ugly, as mt fren wife think that they SHOULD be collecting rental, since they are the rightful owner. WTF, if is because they had agree to the terms and my sis sold to them. Anway, it wasnt a pleasant deal, and this incident sour the relationship between me n my fren.

2nd Situation.

Now i am selling my place and i requested my buyer to allow me to stay for additional 2 weeks upon completion. They had agree, i hope they stick to their words and dun come out with funny rental ideas. I am still thinking of servicing the aircon for them before i leave the house.

[shuseido 0]

Hi all, if the seller cannot complete what he has promised to do (some reno works) when completion date. What I can do ah? All these things already noted down black&white when signing OTP. Thanks for the help!!

Sorry if I hijacked this thread...

[eileen85 0]

i'm new to this forum! the seller has requested to stay for additional 3 months..so do i have to cancel the PUB activate under my name or let them continue using their name?

[merryman 0]

i'm new to this forum! the seller has requested to stay for additional 3 months..so do i have to cancel the PUB activate under my name or let them continue using their name?

better to let them use their name if*(typo) haven't transfer account for PUB...

Edited June 23, 2009 by merryman