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Hi, I'm in the midst of completion for a resale HDB flat - I am the buyer. My seller has requested to delay the completion in order for them to have time to move into their new place. Is compensation for the delay an industry practice, given that I will be renting out the flat to them for the delay?
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1 Answer

Ling CK
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Hi,

1) It really depends on your agreement with the seller during the negotiation stage before signing the OTP.
2) The property tax is 10% on annual value while renting out, and it is 0~4% to start with the owner-occupied period. Thus there is a few hundred dollars difference in the property tax.
3) Therefore it is not wrong to negotiate for a lower selling price or to have some compensation during the extension period.

Hope the above answer 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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