I need to pay 1% for the option. How much minimum cash do I need to pay during the time when I exercise the option for a 1mil house.
It depends on what is inked in the Tenancy Agreement (whether automatic renewal is written inside). Usually, the clause will be where the landlord has the right to choose whether to renew or not.
When you exercise the OTP, another 4% is payable. For private properties, buyers usually do not pay commission. Thanks and may I assist further?
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