Asked by sze yah chng
In default of signing the Sale & Purchase Agreement within the above validity date :
a. In default of signing by the purchaser(s), (provided that there is no undue delay on the part of the Vendor and/or Vendor's Solicitor) the said Earnest
Deposit sum paid herewith shall be forfeited by the Vendor, which the Vendor shall then to pay to THE REALTY SDN BHD an amount
equivalent to 50% of the forfeited Earnest Deposit sum or 50% of the agreed Agency Fee, whichever is the higher.
Could anyone explain is this condition logic? What exactly it means?
Normally the earnest deposit should pay to agent or the seller? If the agent request half of the earnest deposit if the deal cancel is it reasonable?
a. In default of signing by the purchaser(s), (provided that there is no undue delay on the part of the Vendor and/or Vendor's Solicitor) the said Earnest
Deposit sum paid herewith shall be forfeited by the Vendor, which the Vendor shall then to pay to THE REALTY SDN BHD an amount
equivalent to 50% of the forfeited Earnest Deposit sum or 50% of the agreed Agency Fee, whichever is the higher.
Could anyone explain is this condition logic? What exactly it means?
Normally the earnest deposit should pay to agent or the seller? If the agent request half of the earnest deposit if the deal cancel is it reasonable?
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