Asked by Mdm. Jacintha Ong
In the exclusive estate agency agreement, Point 12 under additional terms, my estate agent has included a clause that states " Should any option money or deposit paid by the Buyer be forfeited by the seller, then one half (1/2) of the forfeited sum shall be paid to the estate agent, provided such amount does not exceed the comission. Why is this clause included? Is it market practice? I did not see such clause recommended by CEA. Any feedback would be helpful. Tks
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