Broker charges for heavy deposit

Querist : Anonymous (Querist) 18 January 2020 This query is : Resolved
Hello I am planning to purchase a Heavy deposit flat. But the broker is charging a huge amount as a brokerage charge. Please help me with the percentage charges as per law.

Any broker over here and has some property on heavy deposit..please let me know..

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Shailesh Kumar Shah (Expert) 18 January 2020
There is no law for maximum brokerage. Negotiate the amount with the broker.

kavksatyanarayana (Expert) 18 January 2020
Yes. There is no law for the broker charge. Amicably talk with him.

Dr J C Vashista (Expert) 20 January 2020
Mr./Ms. Anonymous,
Is it a real dispute for consideration and obligation of experts ?
LCI Admin should have deleted such query and account, which has been ignored, why???.

Sb Karma (Expert) 20 January 2020
Broker is pvt.firm..and it is service not product....so there is no rule to control them,
but you can get assist by well negotiator who negotiate for you.

Raj Kumar Makkad (Expert) 20 January 2020
First of all check whether the broker is registered with RERA or not. You can demand the copy of his registration and can cross-check it on the site of RERA of your State. If he is registered then he cannot demand more than the prescribed percentage by RERA. If he is not registered then make his complaint with the RERA.

T. Kalaiselvan, Advocate (Expert) 28 January 2020
There is no provision in law to fix the brokerage or commission to brokers.
If the broker is demanding an exorbitant amount towards commission, you can refuse to accept the deal itself, he cannot legally demand for any damages if you do not accept or agree to the currently negotiated deal.
It depends on the circumstances prevailing at your end and not on the basis of any legal provisions.

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