When the sale/purchase of a resale flat is legally completed, the flat buyers become the legal owners of the flat and the flat sellers are required to move out. The buyers, being the new owners of the flat, will start a minimum occupation period (MOP) of five years from this legal completion date. [The MOP is for subletting of whole flat (for citizen households only), investment in private property or resale of the flat in the open market.]
The temporary extension of stay is subject to the agreement of the flat buyers and the request is to be submitted to HDB at the time of the resale application. An administrative fee of $20 (inclusive of GST) is payable by the flat buyers during the resale first appointment.
The extension of stay will automatically be terminated at the end of three months. Flat buyers must inform HDB via My HDBPage if they terminate the extension earlier. The computation of the MOP for the new owners will commence after the extension of stay is terminated.
Please read the following:
Some flat sellers may not be able to move out immediately, upon the legal completion of the sale of their flat for various reasons.
To ease their transition to their next home, flat sellers may arrange with their flat buyers, to extend their stay temporarily in the flat, for a period of up to 3 months after the legal completion. These flat sellers:
✔ must have committed to buy a completed housing unit (can be another HDB flat or private residential property) in Singapore at the time of the resale application, i.e. they must have exercised an Option To Purchase or signed a Sale and Purchase Agreement.
✔ must not be subletting the whole flat at the time of resale application
✔must be the contra party if the transactions are under the Enhanced Contra Facility.
✔ must have committed to buy a completed housing unit (can be another HDB flat or private residential property) in Singapore at the time of the resale application, i.e. they must have exercised an Option To Purchase or signed a Sale and Purchase Agreement.
✔ must not be subletting the whole flat at the time of resale application
✔must be the contra party if the transactions are under the Enhanced Contra Facility.
The temporary extension of stay is subject to the agreement of the flat buyers and the request is to be submitted to HDB at the time of the resale application. An administrative fee of $20 (inclusive of GST) is payable by the flat buyers during the resale first appointment.
Buyers and sellers may formalise their agreement on the terms of the extension of stay (the period of stay must not be more than 3 months after legal completion) and any monetary compensation by the flat sellers to the buyers. This will be a private arrangement and they do not have to show their agreement to the HDB.
As legal owners of the flat, flat buyers must pay the following during the period of extension (the list may not be exhaustive):
✔ Property tax (non-owner occupied rates)
✔ Monthly instalments for housing loan
✔ Service & Conservancy Charges (without rebates)
✔ Property tax (non-owner occupied rates)
✔ Monthly instalments for housing loan
✔ Service & Conservancy Charges (without rebates)
The extension of stay will automatically be terminated at the end of three months. Flat buyers must inform HDB via My HDBPage if they terminate the extension earlier. The computation of the MOP for the new owners will commence after the extension of stay is terminated.
Please read the following:
(PDF 52KB)
Last Updated on 22 Jul 2014
Source: HDB