You must provide 10% of the entire deposit amount at the contract signing. This initial 10% is called 계약금 (契約金, gyeyakgeum). The remaining 90% (잔금, 殘金, jangeum) should be paid on the day you move into the property. The total deposit is called 보증금 (保證金, bojeunggeum). Rent usually begins on the day you move in. The day you sign the contract, you also need to pay the brokerage fee (중개수수료, 仲介手數料, junggae susuryo).
The commission for the real estate agent varies somewhat depending on the type of real estate transaction (rental or purchase) and zoning type (residential or business). The commission rates for sales are higher than the rates for leases. As officetels are classified as commercial buildings, the commission rates will be higher than for apartments as apartments are classified as residential buildings.
| Property value | Maximum rate | Upper limit |
|---|---|---|
| Less than 50 million won | 0.5% | 200,000 won |
| 50,000,000 won to under 100,000,000 won | 0.4% | 300,000 won |
| 100,000,000 won to under 300,000,000 won | 0.3% | " |
| 300,000,000 won to under 600,000,000 won | 0.4% | " |
| 600,000,000 won or more | 0.8% | " |
| Property value | Maximum rate | Upper limit |
|---|---|---|
| Less than 50 million won | 0.6% | 250,000 won |
| 50,000,000 won to under 200,000,000 won | 0.5% | 800,000 won |
| 200,000,000 won to under 600,000,000 won | 0.4% | " |
| 600,000,000 won to under 900,000,000 won | 0.5% | " |
| 900,000,000 won or more | 0.9% | " |
| Transaction type | Maximum rate |
|---|---|
| Rental | 0.004% |
| Purchase | 0.005% |
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