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 When should I pay agent fee?

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aiskrimcup
post May 30 2016, 10:54 AM

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Standard practise; REN engaged with seller. It was seller who need to pay REN the agent fee. Usually booking fee is 3% from purchase price. That 3% will be hold by REN. Upon signing S&P, you pay the remaining 7%. Seller will get the 7%, and REN will get the 3% as the commission. So, it is obvious agent fee is paid by seller.
aiskrimcup
post May 31 2016, 10:39 AM

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QUOTE(piglover @ May 31 2016, 09:01 AM)
Do buyer pay agent the 3% directly?
Any safer way to pay the 3% and 7%?
Heard cases agent runaway.
Can pay all during S&P ?
*
Standard is 3% payable to REN. So, for safety please ensure the REN is registered and valid. Can check the REN number with LPPEH. www.lppeh.gov.my

This 3% that consider as booking. So can't all be paid during S&P. But some seller has leniency in determine the booking.

Remaining 7%, safest way is via cheque and pay to your appointed lawyer. So after S&P done and signed only your lawyer will pass to seller lawyer. Let's the lawyer do the work.

*As for now, because of GST, the rate now is become 3.18 and 6.82 respectively.
aiskrimcup
post May 31 2016, 12:24 PM

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QUOTE(piglover @ May 31 2016, 11:18 AM)
Alright. Thanks.
Can recommend any good lawyer?
Can pm me. Thx
*
No problem. PMed you.

 

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