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Q & A
1. Consult a real estate agency registered by the government.
2. A real estate agent provides additional services like registration and a written contract in English.
3. You should pay 10 percent of the deposit or one month's rent (contract money) to the owner when you sign the contract. The rest should be paid when you move in.
4. You should show your alien registration certificate at the relevant district office.
5. You should report any alteration of address to the relevant district office with your alien registration certificate and passport. It is recommended to acquire the registration date certificate for guarantee of the legal validity of the realty contract at the time of reporting.
6. Each contract party (tenant and landlord) must pay a commission fee to the real estate agent.
Commission Fee
By The Real Estate Agency Act and relations Act (by the Korean government)
a. For Residence (House, Apartment, Villa, etc) Mil=Million/₩
Buy and Sale Rent
SUM ~50Mil ~200Mil ~600Mil More 600Mil ~50Mil ~100Mil ~300Mil More 300Mil
RATE 0.6% 0.5% 0.4% ~0.9% 0.5% 0.4% 0.3% ~0.8%
b. For Business (Building & Office, etc)
Buy and Sale, Rent * Meaning of “~0.8% and ~0.9%” is that the rate shall be resolved through mutual consultation from inside the “~0.8%, ~0.9%” (But, consulting or Management fee don’t include in above mentioned The Commission fee)
SUM No limit
RATE ~0.9%
How to figure a realtor’s commission fee of Rent : [ Deposit + ( Monthly rent × 100 ) ] × rate(%)
   (If you pay the total amount of rent before commencement date, usually no deposit is required)

Ex) ① Deposit : ₩200Mil ② Monthly rent : ₩10Mil ③ Term of the lease : 24 months / House
   [₩200Mil+(₩10Mil×100)]×rate(%)=₩1,200Mil (=More 300Mil)×0.8%=₩9.6Mil

Ex) ① Deposit : No Deposit ② Monthly rent : ₩2Mil ③ Term of the lease : 36 months / Office
   [₩ 0+(₩2Mil×100)]×rate (%) = ₩ 200Mil×0.9% =₩1.8Mil

Directions :
1. Providing against fraud or mistreatment, consult with authorized real estate agencies.
2. When you making a contract, write in English. Any documents written by foreigners in English have legal force under The Housing Rental Protection Act by the Korean government.
3. Before making a contract, please secure that appropriate house has no other financial or legal problems by checking registration documents in relevant administrative offices.
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