Renting & Real Estate. Does A EC Buyer Need To Pay The Housing Agent Commission If The EC Is Currently In The 9th Year?
Renting & Real Estate. I Understand That For Private Properties, Only Sellers Will Need To Pay Their Housing Agents Commission But Not Sure About Eexc
Renting Real Estate : Does A EC Buyer Need To Pay The Housing Agent Commission If The EC Is Currently In The 9th Year
I understand that for private properties, only sellers will need to pay their housing agents commission but not sure about Eexcutive Condos though. For HDB, I know both seller buyer need to pay commissions to the agent. ~~~ blur_queen ~~~
All Answers To Renting Real Estate Questions
Answer 1Generally, For commissions (For Sale of PTE property EC), there is no hard and fast rule as to paying or not paying commission for buyers. However some agents do request 1% comm from buyers in order to cover their expenses at times. This is usually the case if the property has been marketed for a long time, the commission is not nett profit as you might already know it, It's actually the marketing fee + company cut + agent's nett share. All Realtors / Agents are working hard for their income, therefore, if he's not making money from this sale, why would he want to close the deal in the first place. Eventually, It is upon mutual agreement between the agent and the client as to how much is to be given. Seller's asking price (usually higher) = 1% of Agent comm + Seller's profit + Buyer's offer price. No matter what the case, it is always the buyer paying the agent commission. However, you may want to ensure that the seller is aware that the agent is taking commission from you to ensure that the agent is not trying to squeezing comm from both sides. For eligibility to buy, you have to take note of the age of the EC. Singapore Citizen PR's can buy an EC after 5 years from the TOP date. As for foreigns, they can purchase an EC afters 10 years from the TOP date. Hope it helps!
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