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    C3P0's Avatar
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    Help needed: on tenancy agreement

    Hi fellow forummers,

    One of my relative is buying a private apartment that is currently tenanted.

    At the point of giving the 1% deposit, and also at the point of signing the OTP at the lawyer's premise, my relative was not informed by the agent that the tenancy has been extended. He had even informed the agent that he will need the tenancy to end timely, and it cannot be extended.

    However, he was subsequently informed by the agent, that the seller had agreed with the tenant to extend the tenancy agreement, by another 4 months.

    I hope my story is clear, as I am trying my best to relate the situation.

    The query is: is there anything he can do now? He has approached both the seller and agent, but they seem to be pushing the blame to each other - seller says he has informed the agent about the extension; agent says the seller never inform him.

    Will seek to seek fellow forummers' kind advice on this. Many thanks for reading my long post.

    “Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything - all external expectations, all pride, all fear of embarrassment or failure - these things just fall away in the face of death, leaving only what is truly important.”
    “And most important, have the courage to follow your heart & intuition. They somehow already know what you truly want to become. Everything else is secondary.”

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    hum@n's Avatar
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    Re: Help needed: on tenancy agreement

    Robot, i think if they try to push blames then just follow what is agreed on paper lor.
    Tenancy agreement got state current tenant extend another 4 mths? Im sure they need to state that on papers.
    If not then let the 3 parties settle themselves. And if the agent is trying to siam responsibilities, then can report to CEA.
    CEA - Council for Estate Agencies

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    Re: Help needed: on tenancy agreement

    Think the OTP should have detailed the tenancy. If the seller has signed then it should be legal binding should the buyer exercise the option. However, be prepared, because at the end of the day, seller will just take the $ and disappear upon completion. Any legal dispute against the seller thereafter will be costly and time consuming.

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    Re: Help needed: on tenancy agreement

    I thought got a thing called cooling off period, buyer can opt to abort exerciseof OTP right?

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    Re: Help needed: on tenancy agreement

    Quote Originally Posted by hum@n View Post
    Robot, i think if they try to push blames then just follow what is agreed on paper lor.
    Tenancy agreement got state current tenant extend another 4 mths? Im sure they need to state that on papers.
    If not then let the 3 parties settle themselves. And if the agent is trying to siam responsibilities, then can report to CEA.
    CEA - Council for Estate Agencies
    human that is the most serious reply u ever post !

    Robot when house warming?

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    C3P0's Avatar
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    Re: Help needed: on tenancy agreement

    Quote Originally Posted by hum@n View Post
    Robot, i think if they try to push blames then just follow what is agreed on paper lor.
    Tenancy agreement got state current tenant extend another 4 mths? I'm sure they need to state that on papers.
    If not then let the 3 parties settle themselves. And if the agent is trying to siam responsibilities, then can report to CEA.
    CEA - Council for Estate Agencies
    Yup hum@n, tenancy agreement (not the OTP) did state that the tenancy can be extended up to 1 year, though the tenant only wanted to extend for 4 months.

    The OTP only states that the "The property is sold subject to existing tenancy agreement".

    My relative knew of the above extension clause in advance, and had told the agent - at the point of making the offer of 1% deposit, and also when receiving the signed OTP from the seller, that he will need to move into the house on time, i.e. the tenancy agreement should not be extended.
    The agent at that time even told my relative to ask his lawyer to write a letter to the tenant, to inform the tenant that the tenancy agreement will not be extended.

    Only after the OTP is signed, then the bomb shell - that an extension has been agreed between the seller and the tenant - was dropped.

    Thanks for the CEA link too!

    Quote Originally Posted by SC332 View Post
    I thought got a thing called cooling off period, buyer can opt to abort exerciseof OTP right?
    Hi Steven, is this cooling off clause contained within the OTP?
    The problem is that the bomb shell was only dropped after the OTP was signed....

    Quote Originally Posted by Bimmer80 View Post
    Think the OTP should have detailed the tenancy. If the seller has signed then it should be legal binding should the buyer exercise the option. However, be prepared, because at the end of the day, seller will just take the $ and disappear upon completion. Any legal dispute against the seller thereafter will be costly and time consuming.
    Hi Bimmer80,
    The OTP stated that "The property is sold subject to existing tenancy agreement.", without specifying the period of extension that had been agreed between the seller and the tenant.

    In fact, the extension of tenancy agreement had taken place before the 1% deposit was even offered to the seller. But it was never informed to my relative, until the OTP was signed, and despite my relative making it very clear to the agent that the tenancy was not to be extended because he needs to shift in by the date the original tenancy agreement ends.

    Yup, you are right that the seller will probably slap slap backside and flee. Chao turtle....
    Last edited by C3P0; 18-04-2011 at 02:40 PM.

    “Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything - all external expectations, all pride, all fear of embarrassment or failure - these things just fall away in the face of death, leaving only what is truly important.”
    “And most important, have the courage to follow your heart & intuition. They somehow already know what you truly want to become. Everything else is secondary.”

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    hitmee's Avatar
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    Re: Help needed: on tenancy agreement

    I think the agent just wanted to close the deal. Hide certain information.

    Lesson one: dun choose lousy agent.

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    hitmee's Avatar
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    Re: Help needed: on tenancy agreement

    Quote Originally Posted by iScoupe View Post
    human that is the most serious reply u ever post !

    Robot when house warming?
    4 months later?
    Heee heee

  9. #9
    C3P0's Avatar
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    Re: Help needed: on tenancy agreement

    Quote Originally Posted by iScoupe View Post
    human that is the most serious reply u ever post !

    Robot when house warming?
    I keep wondering how come ac323 answer this way, nbz.
    Any good advice? I know you very smart one.

    “Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything - all external expectations, all pride, all fear of embarrassment or failure - these things just fall away in the face of death, leaving only what is truly important.”
    “And most important, have the courage to follow your heart & intuition. They somehow already know what you truly want to become. Everything else is secondary.”

  10. #10
    C3P0's Avatar
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    Re: Help needed: on tenancy agreement

    Quote Originally Posted by hitmee View Post
    I think the agent just wanted to close the deal. Hide certain information.

    Lesson one: dun choose lousy agent.
    Could be.

    The agent is the seller's agent, and not one that is hire by my relative.

    “Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything - all external expectations, all pride, all fear of embarrassment or failure - these things just fall away in the face of death, leaving only what is truly important.”
    “And most important, have the courage to follow your heart & intuition. They somehow already know what you truly want to become. Everything else is secondary.”

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