Sales commission

Discussion in 'The Buying & Selling Process' started by styereye, 5th May, 2019.

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  1. styereye

    styereye Well-Known Member

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    WA
    We have had an IP (purchased within our SMSF) on the market for a few months - not much interest. We are contemplating buying it from our SMSF (in our personal names). We are just wondering whether we would need to pay the agents commission considering he has not sold it himself. The term of appointment in the sales contract has ended (last week) Does anyone know if we would be liable for these fees?
     
    styereye, 5th May, 2019
    #1
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Unless this is a commercial property, you may bit be able to sell the property to a related party.
     
    Scott No Mates, 5th May, 2019
    #2
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    You will need to read your contract with the agent. You probably have agreed to pay commission if it is sold.
     
    Terry_w, 5th May, 2019
    #3