In private property transactions in Singapore, the commission payments are generally structured as follows:
- For the sale of non-landed private properties, such as condominiums, the seller typically pays the commission, which is usually 2% of the sale price, though it can sometimes be up to 4%. The buyer does not pay any commission, even if they are using a buyer's agent. The seller's agent and the buyer's agent split the commission.
- For landed properties, the seller also pays the commission, which is typically 2% but can be higher and is often negotiable.
- It is strictly prohibited for agents to receive commissions from both the buyer and the seller in the same transaction, ensuring impartiality and integrity.
In summary, the seller is responsible for paying the commission in private property transactions, while the buyer does not pay any commission.
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