Max Option Fees for Resale

[richwang]

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,

[triple70]

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.

[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.

[evolutionx]

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.