Balance of funds - estate agent fees

PSFarrell · 2023-03-26 11:32:54

Hi All I closed the sale of my apartment on Friday and my solicitor transfered the proceeds to my account. I also recieved an email from the EA saying they would be transfering the balance of funds as well. No doubt ill recieve breakouts of these amounts next week but im curious about the EA part. I know the buyer of my…

26-03-2023 12:32PM

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PSFarrell

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Hi All
I closed the sale of my apartment on Friday and my solicitor transfered the proceeds to my account. I also recieved an email from the EA saying they would be transfering the balance of funds as well.
No doubt ill recieve breakouts of these amounts next week but im curious about the EA part. I know the buyer of my place paid a booking deposit to them and my guess is the EA deducted their fees from this and are returning to me the excess.
Is this standard practice?

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#2 26-03-2023 12:38PM

herbalplants

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https://www.boards.ie/discussion/2058289812/balance-of-funds-estate-agent-fees

Yes correct. Estate agent will deduct their fee of the booking deposit. Solicitor does the same too.

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