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I would like to ask as a Seller for a HDB flat, if my potential buyer backs out after paying the deposit, do we have to pay our agent part of the deposit we received when we already have to pay her 1% commission after the deal is closed. Kindly advise with thanks.
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2 Answers

Mike Lim
Replied
Afternoon Skye,

Under Form 1 or Form 5, there's a clause stated under additional terms. You should be able to get the answer from there. If nothing is stated, good for you.

FYI
Mike Lim
 96929209 
ERA Read More
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  • SL
    Replied
    Good day to you. Thanks for your reply. I was thinking if I pay my agent 1% commission plus the deposits seems a large sum and my friends told me deposits are for seller solely.
Ken Lim
Replied
Hi Skye,

If your buyer had backed out from the sale after Exercising the OTP. You do not have to pay your agent any agent fees but probably only share the forfeited money with your agent.

Regards,
Ken Lim
Mobile : 9027-6142  Read More
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  • SL
    Replied
    Thanks Ken, The problem now is the deal is finally closed with the 2nd buyer and we have to pay BOTH the commission plus 50% of the forfeited deposit. I know if e final sales is not being closed by the agent then we pay him an agreed amount for his work. But now is he wants all the pie.

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