Asked by Ambuer Lee
Should I pay my exclusive agent as we do not buy any estate and then our agreement expired.
We have signed buyer's exclusive agency agreement 6 month ago. Before signing it, the agent has checked my salary and tax NOA so he is confident that we could enter the resale HDB market. The agreement is for 3 months.
We have checked and visited some units after agreement signed. When we were going to provide an option, it is found the bank loan (based on my basic salary) is not sufficient to purchase our target unit.
After 6 month we still not buying any unit. Is the agreement considered terminated and shall I pay some extra fee to my agent?
We have signed buyer's exclusive agency agreement 6 month ago. Before signing it, the agent has checked my salary and tax NOA so he is confident that we could enter the resale HDB market. The agreement is for 3 months.
We have checked and visited some units after agreement signed. When we were going to provide an option, it is found the bank loan (based on my basic salary) is not sufficient to purchase our target unit.
After 6 month we still not buying any unit. Is the agreement considered terminated and shall I pay some extra fee to my agent?
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Thank you very much for your answer!
There is no provision stated in the agreement about fee if no transaction.