To record the Agent's commission so that it can be deducted from the deposit and the balance be made available for the vendor on completion, or a cheque drawn to the agent:
- Ensure that the Agent Details have been completed
- Ensure that the Deposit Breakdown in Conveyancing Details has been completed
If the deposit held by the Agent is less than the commission amount:
- A cheque will be generated in the cheque direction list for the shortfall (Commission less Deposit)
- The paid amount is accounted for in the Settlement Statement as retained by Agent
If the deposit held by the Agent is more than the commission amount:
- The paid amount is accounted for in the Settlement Statement as the Commission amount retained by Agent and balance to the vendor.
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