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If i am selling my property,the buyer need to give me 1% and OTP and if i deposit the 1% cheque and the buyer decide not to carry on the deal after a week the 1% will be forfeit to me right?What is the maximum amount of deposit actually i can request from the buyer?
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4 Answers

Morning,

Standard option fee for private residential unit is at 1%. Option exercise period will varies based on what is written on the OTP. Should you accept the option and the buyer opt not to proceed further, the option will be forfeited by the seller. As it seems like you are not familiar with the S&P procedure, it would be prudent to engage a qualified agent to assist you accordingly.

Do feel free to contact me should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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GAN ENG JOO ONASSIS
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Tyically 1 %, more than 1 % depend on the willingness of the buyer request by the seller.

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Hi, hopefully you managed to sell your unit at a good price then. If, so then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me .

https://www.era.com.sg/R064892F

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