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cynthusc
Joined: 16 Sep 2005
Posts: 306
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 Posted: Tue Nov 28, 2006 11:48 am Post subject: |
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| sksk wrote: | Hi cynthusc
yes, the same property. this is a quo by another lawyer. I want to know which I still can neg with the lawyer. Normally should be the transportation, printing is it, and how about the land title search? And the deed of assignment, PA he charge me 200, also can neg with him?
Legal Fees (Loan)
Deed of Assignment - RM200 <-- 141?
Power of Attorney - RM200 <--- 141?
If the price is reasonable, then I think will take this.
Thank u. |
Look above for my comments |
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sksk
Joined: 03 Nov 2006
Posts: 13
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| Posted: Tue Nov 28, 2006 4:05 pm Post subject: |
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Thank you cynthusc for your advice. I will neg with him.  |
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loucus
Joined: 22 Oct 2005
Posts: 5
Location: USA
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| Posted: Fri Dec 08, 2006 1:07 pm Post subject: What are the Rates??? |
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Can some experts shed some light on legal fees in Malaysia?? Here's my information:
Property: Condo
Price: $600,000
Type: Freehold
Transaction Type: Purchase from Owner
Please break down the fees involved in this transaction. Back home this would be a simple legal transaction where the legal fees are ALL subject to negotiation. An anticipated "thank you" for any help.
_________________
The ultimate measure of a man is not where he stands in moments of comfort, but where he stands at times of challenge and controversy.
~Martin Luther King, Jr. |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Sun Dec 17, 2006 3:38 pm Post subject: Re: What are the Rates??? |
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| loucus wrote: | Can some experts shed some light on legal fees in Malaysia?? Here's my information:
Property: Condo
Price: $600,000
Type: Freehold
Transaction Type: Purchase from Owner
Please break down the fees involved in this transaction. Back home this would be a simple legal transaction where the legal fees are ALL subject to negotiation. An anticipated "thank you" for any help. |
Hi Loucus,
Your legal fees would probably look like this:-
Legal Fees (Professional fees):
Sale and Purchase Agreement RM5000
5% service tax RM250
Disbursements:-
Stamping of sale and purchase agreement RM40
Stamping of Deed of Assignment RM40
Adjudication of Assignment RM10
Stamp Duty (estimated) RM11000
Land Search RM30
Incidentals and postage : RM50
Transportation: RM150
Regards |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Sun Dec 17, 2006 3:46 pm Post subject: |
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| Oh yeah, if you are a foreign national, you will have to pay an additional RM300 to obtain the State's Consent to the sale (professional fees) and RM150 official charges. |
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Dugong
Joined: 25 May 2006
Posts: 35
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| Posted: Tue Jan 09, 2007 3:19 pm Post subject: |
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Instead of us asking you the same question over & over again, why not you provide us with a rough formula? I always thot you can roughly estimate the legal
S&P Legal Fees 1% for first RM100,000k, balance at 0.5%S&P
S&P stamp fees 1% for first RM100,000k, balance at 2%
Loan Legal Fees 1% for first RM100,000k, balance at 0.5%S&P
Loan stamp Fees 1% for first RM100,000k, balance at 0.5%S&P
others data gathered from the Pros:
Additional cost;
CKHT2 RM 200
FIC application RM 300
State Consent RM 300.
Disbursements for S&P
1. Stamping of S&P 40-00
2. Adjudication of DOA 10-00
3. Stamping of DOA 30-00
4. Land Search 30-00
5. Stamping of Deed of Mutual Covenants 40-00
6. State Consent application fees 150-00
7. Other miscellaneous charges 100-200
Disbursements for Loan
1. Stamping:-
a. Letter of Offer (if less than a month old) 10-00
b. FA (3 copies) 30-00
c. DA (4 copies) 40-00
d. PA (4 copies) 40-00
e. SD (2 SDs) 20-00
2. Affirmation fees 16-00
3. Registration and Noting of PA 120-00
To lodge and withdraw caveat another RM350-400?
If all is okay, I suppose we can just use that as our future ref.. save you time from answering ea. request..  |
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whitelinen
Joined: 03 Apr 2007
Posts: 3
Location: Penang
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| Posted: Thu Apr 05, 2007 4:54 pm Post subject: Loan agreement |
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Hi I'm a newbie here. Would appreciate if someone could let me know how much do I need to spend for loan agreement?
Property price: 307800 (Condo under construction)
Loan amount: 277000
The developer is paying for the S&P (legal fees, stamp duties, disbursement fees) |
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jpcys
Joined: 03 May 2007
Posts: 2
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| Posted: Thu May 31, 2007 12:16 pm Post subject: |
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Dear cynthusc,
I new here, I would like to check with you. I'm buying a apartment from an agent RM110K and He asked me to bankin to his company account the 2% then only he will sell the aprt to me. Should I pay him?
Or would you able to list down for me the process flow? and How much all the fees will include?
Just treat me I dont know anything about buying a 2nd hand house.
thanks
Hope to hear from you. |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Fri Jun 01, 2007 12:24 pm Post subject: |
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| jpcys wrote: | Dear cynthusc,
I new here, I would like to check with you. I'm buying a apartment from an agent RM110K and He asked me to bankin to his company account the 2% then only he will sell the aprt to me. Should I pay him?
Or would you able to list down for me the process flow? and How much all the fees will include?
Just treat me I dont know anything about buying a 2nd hand house.
thanks
Hope to hear from you. |
Please do not release any money to any agent until the offer to purchase has been prepared. Make sure that all docs are in order. If you would like a basic over view I can help you. Pls email. Thanks |
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boomerkk
Joined: 12 Oct 2006
Posts: 416
Location: K.L.
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| Posted: Wed Jun 13, 2007 7:56 pm Post subject: |
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| Dugong wrote: | | Instead of us asking you the same question over & over again, why not you provide us with a rough formula? I always thot you can roughly estimate the legal |
Ok, I'm looking at purchasing a piece of vacant residential land. CAN YOU PLEASE CHECK MY CALCULATION OF COSTS PLEASE? Thank you kindly.
Land- Freehold Malay Reserve
Cost-RM300k.
Legal fees for SPA - RM2000
Stamp duty for SPA - RM5000
Loan legal fees - RM2000
Stamp duty for Loan Agreement - RM2000
TOTAL - RM11,000
Additional cost;
CKHT2 RM0 (no need right? no more RPGT)
FIC application RM 300 (no need since I'm local rite?)
State Consent RM 300 (no need since freehold, rite?)
TOTAL - RM0
Disbursements for S&P
1. Stamping of S&P 40-00
2. Adjudication of DOA 10-00
3. Stamping of DOA 30-00
4. Land Search 30-00
5. Stamping of Deed of Mutual Covenants RM 0 (no DMC as individual title?)
6. State Consent application fees RM0 (no need?)
7. Other miscellaneous charges 100
TOTAL - RM210
Disbursements for Loan
1. Stamping:-
a. Letter of Offer (if less than a month old) 10-00
b. FA (3 copies) 30-00
c. DA (4 copies) 40-00
d. PA (4 copies) 40-00
e. SD (2 SDs) 20-00
2. Affirmation fees 16-00
3. Registration and Noting of PA 120-00
To lodge and withdraw caveat another RM400
TOTAL - RM676
BIG TOTAL - RM11,876 ---- PENGSAN! 
MY MOST SINCERE THANKS |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Thu Jun 14, 2007 9:53 am Post subject: |
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| boomerkk wrote: | | Dugong wrote: | | Instead of us asking you the same question over & over again, why not you provide us with a rough formula? I always thot you can roughly estimate the legal |
Ok, I'm looking at purchasing a piece of vacant residential land. CAN YOU PLEASE CHECK MY CALCULATION OF COSTS PLEASE? Thank you kindly.
Land- Freehold Malay Reserve
Cost-RM300k.
Legal fees for SPA - RM2000 2550- first 150K is 1% and balance 150K is 0.7%
Stamp duty for SPA - RM5000
Loan legal fees - RM2000 - what's the loan amount?
Stamp duty for Loan Agreement - RM2000 -need the loan amount
TOTAL - RM11,000
Additional cost;
CKHT2 RM0 (no need right? no more RPGT)
FIC application RM 300 (no need since I'm local rite?)
State Consent RM 300 (no need since freehold, rite?) - Look at title to see if consent required
TOTAL - RM0
Disbursements for S&P
1. Stamping of S&P 40-00
2. Adjudication of DOA 10-00
3. Stamping of DOA 30-00
4. Land Search 30-00
5. Stamping of Deed of Mutual Covenants RM 0 (no DMC as individual title?)
6. State Consent application fees RM0 (no need?) if need RM150
7. Other miscellaneous charges 100 (RM100-150)
TOTAL - RM210
Disbursements for Loan
1. Stamping:-
a. Letter of Offer (if less than a month old) 10-00
b. FA (3 copies) 30-00
c. DA (4 copies) 40-00 - if with title no DA
d. PA (4 copies) 40-00 - if with title no PA
e. SD (2 SDs) 20-00
2. Affirmation fees 16-00
3. Registration and Noting of PA 120-00 - with title no noting of PA only registration of charge fees which depends on which state
To lodge and withdraw caveat another RM400 - depends on which state but generally RM720 (including the fees)
TOTAL - RM676
BIG TOTAL - RM11,876 ---- PENGSAN!
Your bill is incorrect as this is a property with title. There should be a charge and not DA and PA.
MY MOST SINCERE THANKS |
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boomerkk
Joined: 12 Oct 2006
Posts: 416
Location: K.L.
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| Posted: Thu Jun 14, 2007 8:20 pm Post subject: |
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Thanks Cynthus.
Yes, I forgot to mention the loan amount, might be around 220-240k.
So give or take, legal fees will cost between 12k to 13k.
Sigh. |
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ilyashukri
Joined: 11 Jun 2007
Posts: 464
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| Posted: Fri Jun 15, 2007 12:11 pm Post subject: What about Government Loans? |
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Hi everybody! I'm quiet new in this thingy, eventhough I've been browsing around this S&P and Legal Issues for some time...
I find it that some of the legal advices posted are very helpful and a  . And I would like to thank cynthusc, mainsha and others for the advice shown... also I discovered that noor713 haven't been around for sometime.
Ok. Straight to the point...
If I were to get Government Loan, would it be any different in the legal fees and disbursements charged to that of Bank Loan?
(S&P legal fees are borne by Developer)  |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Fri Jun 15, 2007 3:40 pm Post subject: Re: What about Government Loans? |
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| ilyashukri wrote: | Hi everybody! I'm quiet new in this thingy, eventhough I've been browsing around this S&P and Legal Issues for some time...
I find it that some of the legal advices posted are very helpful and a . And I would like to thank cynthusc, mainsha and others for the advice shown... also I discovered that noor713 haven't been around for sometime.
Ok. Straight to the point...
If I were to get Government Loan, would it be any different in the legal fees and disbursements charged to that of Bank Loan?
(S&P legal fees are borne by Developer) |
If you get a government loan, there is no difference in legal fees but you have stamp duty exemption because...well its a government loan. So you pay lesser because of the exemption
However please be aware that government loan procedures and conventional loan procedures are relatively different so you need to determine whether or not a govt loan is suitable for your purchase BEFORE you sign the S&P
Regards |
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ilyashukri
Joined: 11 Jun 2007
Posts: 464
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| Posted: Fri Jun 15, 2007 4:47 pm Post subject: |
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Thanks... 
Based on your experience, what would you say the "setback/s" of appllying a government loan? |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Fri Jun 15, 2007 5:39 pm Post subject: |
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| ilyashukri wrote: | Thanks...
Based on your experience, what would you say the "setback/s" of appllying a government loan? |
Well its not really a setback, its just that the government has certain SOPs that must be fulfilled.
Eg. if the transfer is a direct transfer, the government will not approve. This means that if the title is still in the developer's name and you want to get it transferred to you directly without first transferring to the Vendor (to save cost and time) the govt will not allow it. |
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jojomojo
Joined: 25 Apr 2007
Posts: 4
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| Posted: Sat Jun 16, 2007 12:20 am Post subject: |
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Hi, thanks in advance for your advice.
Type: Landed - New
Freehold
Purchase price: 230,00
Loan: 184,000
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SPA: FOC
MOT:
stamp duty on transfer --- 3,600
Regis Fee on MOT --- 300
Adjudication --- 10.00
Title/Caveat search --- 60.00
Printing Charges --- 100.00
OA search & SD affirmation --- 60.00
Transport --- 130.00
Telephone/fax --- 30.00
Misc --- 50.00
TOTAL --- 4,370.00
------------------------------------------------------
Loan Agreement:
Disbursements
Stamp Duty and Charge Annexure --- 950
Stamp Duty on Letter of Offer --- 10.00
Stamp Duty on Statutory Declaration --- 20.00
Attestation fee --- 12.00
Regis fees on charge --- 120.00
Regis fee on Entry of Caveat --- 340.00
Regis fee on Withdrawal of Caveat --- 80.00
Regis fee for Consent --- 30.00
Bankruptcy search --- 10.00
Title/ Caveat Book search --- 60.00
Transports --- 150.00
Printing --- 50.00
Telephone/fax --- 50.00
Misc --- 50.00
Professional Fees
Charge --- 1216.60
Entry of Caveat --- 200.00
Withdrawal of Caveat --- 150.00
Service tax 5% --- 78.33
TOTAL --- 3576.93
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I am using the same lawyer for my SPA, please advice. How to ask them to lesser the charges? |
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lsw1979
Joined: 11 Jul 2007
Posts: 1
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| Posted: Wed Jul 11, 2007 9:39 am Post subject: |
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Dear Noor713,
I would like to get your advice regarding on the legal fees for loan & S&P. I'm buying a house RM83k, Loan amount with bank is RM76,848. Both S&P and loan agreement are with the same lawyer. Tq.
ASAP!! |
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mei
Joined: 11 Jul 2007
Posts: 1
Location: Kuching
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| Posted: Wed Jul 11, 2007 12:17 pm Post subject: |
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Hi
I glad i found this forum & would like to get some advice on stamp duty, legal fee for S&P etc... thanks in advance!.
I jus paid a booking fee for an apartment of 200k & thinking getting a loan of 170k. Its a completed apartment but the title has yet been issued. Accoridng to the developer they will absorb the legal fee for S&P & management agreement only. Stamp Duty & MOT will be on my account.
Kindly advice how much i need to prepare for all these docs.
Btw do i still need to get a lawyer cos the developer hv their own lawyer..??? |
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ilyashukri
Joined: 11 Jun 2007
Posts: 464
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| Posted: Wed Jul 11, 2007 5:34 pm Post subject: |
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Hi mei,
I have no advice to give you but STRONGLY suggest that you set a chat with Madam cynthusc. She's a BIG helper... 
You can also check out the previous replies (that's what I did). Anyway good luck! |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Thu Jul 12, 2007 10:39 am Post subject: |
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| mei wrote: | Hi
I glad i found this forum & would like to get some advice on stamp duty, legal fee for S&P etc... thanks in advance!.
I jus paid a booking fee for an apartment of 200k & thinking getting a loan of 170k. Its a completed apartment but the title has yet been issued. Accoridng to the developer they will absorb the legal fee for S&P & management agreement only. Stamp Duty & MOT will be on my account.
Kindly advice how much i need to prepare for all these docs.
Btw do i still need to get a lawyer cos the developer hv their own lawyer..??? |
Hi Mei,
If you look up a few posts you will get a general idea of how much it would cost.
Legal fees and disbursments should be about RM2600 and stamp duty RM850.
Regards |
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ilyashukri
Joined: 11 Jun 2007
Posts: 464
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| Posted: Fri Jul 20, 2007 5:39 pm Post subject: |
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Dear cynthusc,
I need your help on this one. Just received this bill (regarding loan legal fees) from the lawyer.
Loan Amount : RM240,012.00
Professional Fee - RM2,130.08
Government Tax - RM106.50
RM2,236.58
Disbursements :
Registration fees - Power of Attorney - RM70.00
Land Search - RM100.00
Company Winding Up Search - RM30.00
ROC Search - RM30.00
Transport Charges - RM250.00
Miscellaneous - RM50.00
RM 530.00
-------------
TOTAL RM2,766.58
========
Any area that I can highlight and benefit from it?
Thanks in advance.  |
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azusan84
Joined: 04 Aug 2007
Posts: 4
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| Posted: Sat Aug 04, 2007 10:02 pm Post subject: cero entry cost |
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hi..i'm a 1st time buyer and really need help. I bought a condo 180k n opt for zero entry cost package with a financier. Developer offer free legal fees on S&P. Now the loan lawyer(same lawyer as S&P) asking me to pay rm1066.
it is zero entry cost but why the lawyer bill me for all this?
a)solicitors' fee for loan document
assignment 200
PA 200
b)disbursement for loan document
purchase of loan document 100
search - land 60
- OA/OR 36
stamp duty - facility agreement 30
- Deed of assignment 40
- PA 40
- statutory declaration 20
filing fee for PA 50
affirmation statutory decl 10
transport charges,etc 200
photostat n binding 30
miscellaneous 50
[/i] |
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klwoon
Joined: 08 Aug 2007
Posts: 1
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| Posted: Wed Aug 08, 2007 6:24 pm Post subject: |
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hi,
I just purchased a second-hand leasedhold condo with strata title. First time buying house so please forgive my noob question.
The bank which I'm taking loan insist on using their panel of lawyer for the loan agreement.
My question: is it advisable to use the same lawyer to do S&P as well? or appoint another lawyer (which is not in the bank's list of panel) to do S&P? At least this lawyer is recommended by a friend. I just worry about the panel lawyer. From what I heard normally the S&P takes time to get approval and if exceed 3 months I will get penalty.
Thanks. |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Fri Aug 10, 2007 2:05 pm Post subject: |
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| klwoon wrote: | hi,
I just purchased a second-hand leasedhold condo with strata title. First time buying house so please forgive my noob question.
The bank which I'm taking loan insist on using their panel of lawyer for the loan agreement.
My question: is it advisable to use the same lawyer to do S&P as well? or appoint another lawyer (which is not in the bank's list of panel) to do S&P? At least this lawyer is recommended by a friend. I just worry about the panel lawyer. From what I heard normally the S&P takes time to get approval and if exceed 3 months I will get penalty.
Thanks. |
Find out whether your friend's lawyer is on the panel of the bank. If they are you can ask the bank officer to appoint them to act for the bank with respect to the loan. If not my opinion is go with separate lawyers. At least your own lawyer can push the loan lawyer to do their jobs and to meet the deadline.
Regards |
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