in situation where buyer do not exercise the OTP after paying 1 pct to seller ...
buyer can just walk away.. and loses the 1 pct deposit.
Seller, will then split the 1 pct, 50/50 with his agent, who would then split his share with the cobroke agent(representing buyer).
if seller does not have an agent, then seller will split the 1 pct depo with the buyer's agent. Read More