The HDB Extension of Keep is a private arrangement amongst a flat buyer and seller, permitting the seller to remain during the offered unit for your highest period of three months following the sale is legally concluded. The ask for must be submitted to HDB at the time in the resale application, requiring a composed arrangement amongst both of those get-togethers. Both of those the customer and seller need to satisfy HDB’s eligibility requirements, along with a cost of $20 is payable for the application through the HDB resale portal. The client is The brand new flat proprietor within the completion day, and the vendor, who will have to happen to more info be the flat's proprietor, stays as a temporary occupant. The terms, like any lease, are privately agreed upon among the client and seller, with HDB not enforcing the precise conditions of the settlement. This one-time arrangement is crucial for sellers needing more time to locate a new property and calls for watchful consideration from both functions.