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Thread: Contra Matters

  1. #1
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    Jan 2008
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    Default Contra Matters

    how does the contra works? is there a fixed rule like maximum how many weeks can be contra?

  2. #2
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    Jan 2007
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    Default

    You mean buy and sell HDB at around the same time

  3. #3
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    Default

    yes that's right

  4. #4
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    Jan 2007
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    Default

    You have to have an Option to Purchase for the sale of your property in order to apply for a bridging loan to purchase a new place. Bridging loans normally have to be repaid in 6 months so I suppose that's the sort of timeline you are looking at.

  5. #5
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    Jan 2008
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    any idea if the seller asked for another additional 2 months to move out even after the second appointment. reason is that their new place is not ready. can we say no? are we contractually bond to agree on that?

  6. #6
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    Jan 2007
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    I believe that is something the buyer and seller can negotiate on. Normally the seller have to move out on completion date unless the buyer agrees to an extension.

  7. #7
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    Jan 2008
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    that means there is no fixed rules on this. it's all on negiotiation lar. can a rental be imposed since another 2 more months are needed.

  8. #8
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    Aug 2008
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    Default

    Quote Originally Posted by evel View Post
    that means there is no fixed rules on this. it's all on negiotiation lar. can a rental be imposed since another 2 more months are needed.
    Surely you can, everything is negotiable, note that you do not have to allow them to stay if you really need the place the buyer is to deliver vacant possession to you on completion.

    However, if you are nice enough to allow them to stay on for another 2 months there is still a need for you to draft a formal letter to be sign on such agreement. As it may get complicated when there are dispute later on.

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