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If i am selling my property and someone pays me the 1% option fee and i give them the option to purchase. However after the option period expired, the buyer decides to not go ahead with the purchase. Do i keep 100% of the option fee paid to me? Do i have to pay my housing agent any of this option fee? what is the standard practice?
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3 Answers

Ivan Ng
Replied
Hi,

The standard practice is such that in your scenario, the 1% option fee is split equally between seller and agent. However, it can vary depending on what is inked in your agreement. But I would say since the agent has done his part to bring in a good offer, it is only fair to remunerate accordingly on his good effort. Thanks and hope to have the opportunity to work with you.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
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Aaron Chong
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Hi, it will be stated in the agreement form that the 1% option fee will to be shared between you and your agent. Because it is through the effort of your agent that a buyer gets to know and view your unit. Pls feel free to let me know if you need any assistance.

Regards
Aaron
 97308455 
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Mike Lim
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Morning,

You might want to look at the CEA form which your agent have inked with you, prior to market your unit. It should indicate clearly on the manner of handling for the option fee received.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
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