Results 1 to 4 of 4

Thread: Max Option Fees for Resale

  1. #1
    Join Date
    Jul 2009
    Posts
    1,823

    Default Max Option Fees for Resale

    May I know what is the max option fees that I can collect?
    10%?

    I can only find the guideline for new projects. How about resale?

    http://www.ura.gov.sg/lad/HBG/otp.htm

    Thanks,

  2. #2
    Join Date
    May 2012
    Posts
    81

    Default

    There is no standard OTP format that u must use.
    Thus.. can draft anything u desire.
    However.. if things go wrong.. and the whole case lands in front of a judge..
    if got some weird clauses.. be prepared to have an explanation.

  3. #3
    Join Date
    Apr 2011
    Posts
    295

    Default

    Normally is 1% immediately , another 4% upon return of OTP which is 14 days. Then remaining 95% upon completion and submits keys which is 8 wks.

    but as long as buyer agrees and accept, any of the above procedure, amt of money, period of time and conditions etc can be changed.
    Just Do It! 要拼才会赢!

  4. #4
    Join Date
    Feb 2013
    Posts
    106

    Default

    Quote Originally Posted by Cyberknight
    Normally is 1% immediately , another 4% upon return of OTP which is 14 days. Then remaining 95% upon completion and submits keys which is 8 wks.

    but as long as buyer agrees and accept, any of the above procedure, amt of money, period of time and conditions etc can be changed.
    yup i have collected 2+8 before because buyer ask for 4 week option.

    in this case, as long as seller willing / buyer willing, even if land up in front of a judge as triple 70 says, you got nth to hide because those were your TERMS and the buyer was willing to accept.

    but dont be too much and ask for 10% option fee ha ha. 2-3% option fee i've seen before. i even managed to get seller to change a clause on the option after accepting it. (but always, ALWAYS use your lawyer to write in and get their lawyer to respond IN WRITING). i cant tell you how important it is to get things in writing for anything you want.

Similar Threads

  1. Fresh Cut Bank Instruments (Lease Option/Sales Option)
    By leasingmandate in forum Finance and Legal
    Replies: 1
    -: 22-10-21, 13:13
  2. Agent Fees
    By TravieJackie in forum Coffeeshop Talk
    Replies: 9
    -: 26-05-17, 14:18
  3. For her, a three-room resale flat For others, there's a new option
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 19-03-13, 18:07
  4. Condo maintenance fees going up
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 1
    -: 14-08-10, 13:13
  5. Lawyer should have been clear about fees
    By mr funny in forum En Bloc Discussion and News
    Replies: 1
    -: 03-07-07, 19:31

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •