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NewKENZO
Joined: 01 Jun 2006
Posts: 168
Location: Subang
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 Posted: Thu Jun 01, 2006 4:16 pm Post subject: |
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Nice description from mainsna .... for all the cases i get and passed to my bank's panel lawyer ... they charged exactly how mainsna described ....
all the calculation about legal fee and stamp duty are absolutely correct .... so other readers make sure dun be get cheated from 3rd party or such .....
_________________
Kenzo
Mortgage Consultant |
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fullmoon
Joined: 23 Jun 2006
Posts: 1
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| Posted: Fri Jun 23, 2006 3:12 pm Post subject: |
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Hi every1,
i'm a new member and all the forum topics are very interesting...but now, my major concern is the legal fees, etc & bil payments by owner:
Details of the property i'm buying:
Area: Wangsa Maju
Buying Price: RM90k
Price (after mark-up in S&P): RM100k
Loan amt: RM85k
1) Legal stuff: how much will all the cost involving legal matters come up to under the current pricing structure?
I have a cousin who can do this for me, but I wish to know whether he can request for exemption from the Bar Council. I heard that if the lawyer is doinf the S&P,etc for a relative/friend, the lawyer can write a letter to BC to request for an exemption. If that is done, how much will my legal cost come up to now?
2) I did some background checking and found that there are some bills the owner has not paid yet (the maintenance bills alone was more than RM3k outstanding).
To protect myself from hassle, where should I include a clause for the owner to settle this?
I will be signing the Offer to Purchase 2moro, shal I include this in it or in the S&P.
I also heard that the Strata Title cannot be changed to my name until the owner settles all his bills. True/False?
I really need advise on these things, hope some kind soul here will help me out
THANKS A MILLION!!! |
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nikita1977
Joined: 02 Jan 2006
Posts: 101
Location: PJ
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| Posted: Sat Jun 24, 2006 1:03 am Post subject: |
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pls advice on my legal fees  i just wanna know if i am over price by my lawyer.
Condominium at prima pelangi
Purchase price: 192,000.00
SPA/DEED RM1794.00
Ckht 200.00
1994.00
services tax 99.70
2093.70
disbursements
stamp duty deed 2870.00
stamp duty Spq 40.00
adjusdication fees 10.00
bankruptcy search 15.00
land search 90.00
transport/ postage 75.00
incidentals 50.00
3150.00 + 2093.70
RM5243.70 |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Tue Jun 27, 2006 3:39 pm Post subject: |
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| winnie the pooh wrote: | for the uninitiated, when requesting our in house loyars to verify whether some sharks out there are squeezing your balls (or tits, or whatever...), please adopt the following format:
noor713/mainsna,
i have spent my whole life savings to cough up just enough hairballs to put the downpayment for my [please state type of property here] at the developer's inflated price of [please state price of property here].
them sharks are now slaughtering me a further sum of [please state the aggregate fees and disbursement charges here] which according to their da vinci coded bill is as follows:
[reproduce lawyer's bill in toto here]
after all my years spent in boleh-sia's seriously flawed education system, i can't for the life of me make up what this means. i've coughed up enough hairballs already so what i wanna know is:
(i) if they squeeze my ball/tits* can i wring their necks also?
(ii) if they wring my neck, can i stuff them in a luggage bag & throw them into a river?
(iii) if i get caught for ridding this world of one of them pesky sharks, can i ask the authorities to "close both eyes"?
(iv) if they can't close both eyes, can i ask them to at least compund the offence instead?
(v) if they impose a compound, will they take 10 years before they send me a notice of demand?
(vi) if i wait a further 10 years, do you think they will grant me a waiver/discount of my compound?
thank you in advance for your kind assistance which i assume will be given without charge as otherwise i will have to repeat steps (i) to (vi) all over again.
with warmest regards
- freeloader -
(makes no difference who u really are la...)
* delete whichever inapplicable |
For noor 713/mainsna who has taken their valuable time to educate the general public and unrepentant freeloaders (who only want premium legal representation but don’t want to pay for it and yet whinge like a toddler with a club up his ass), please reply to those using Winnie the Pooh’s format in the following manner:-
Dear Freeloading asswipe,
With reference to your request, my reply to your various queries is as follows:-
1) For squeezing your measly but hairy balls (and overlooking your miniscule penis)/sagging tits, we have to ensure that the property that you have bought with money from selling coughed up hairballs is legally yours (eventually); BUT;
2) when the Godlike creature, you call “the Developer” absconds, why are you sailing on a large ship hunting for the biggest shark to shark for you?; and
3) when the shark does a good job and gets you your “hard earned” money back, why do you ask for a discount and call the shark “pesky”?; and
4) when the shark sends you a letter of demand for its discounted fees (which you failed to pay, BTW) why do you go to the Bar Council and report that the shark has given you a discount and thus should have its license to practice revoked?;
5) when you failed to get the shark’s license revoked, why do you go on property forums and disparage the shark when the shark is clearly a vegetarian?
Thank you for writing to me but I think instead of giving you free legal advice, I hope the Developer/Vendor absconds and takes your life savings away. BTW, there’s one advice I can give you…Don’t suffer in silence, go to the pet store, they’ll give you something for your hairball problem or better yet, put you to sleep, permanently.
With a warm F*&k off,
noor 713/mainsna |
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Vivian
Joined: 07 Jul 2006
Posts: 34
Location: KL
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| Posted: Mon Jul 10, 2006 7:12 pm Post subject: Loan Agreement |
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Hi,
I'm a first home buyer and also alot queries, i so really need some advised from those with experience,I would like to regarding on the legal fees for loan. how come the legal fees it is so very expensive. because i got heard from i can get some discount but its by undertable refund.it is true?
here is my loan agreement quotation from lawyer, please give me some advised & comment ,ofcourse i'm very appreciate if you can let me know the all the calculation for each breakdown. especially Noor713
Property Detail:
Type: Condominium, Non-Landed - Ampang
Purchase Prices: RM169K
Loan Amount : RM150K
Facilities Agreement: RM1050 discounted 30% (RM1500 actual charges)
Deed of Assignment: RM200
Power of Attorney: RM200
Tax:RM72.50
Total: RM1522.50
Disbursements:
Land Search fees RM30
Bankcrptcy Search RM20
Stamp Duty on Facilities Agreement RM770
Stamp Duty on Deed of Assignment RM40
Stamp Duty of Power Attorney RM40
Registration fees on Power of Attorney RM60 ?? (isit different charges)
Staturory Declaration & Affirmation fees on statutory declaration RM100
Transportation RM100
Printing costs & photocopy charges RM150
Miscellaneous RM50
Total due is RM2902.50
So do you think this quotation reasonable for loan agreement? please be advised , your notion & your verdict very useful & helpful to me.
Many thanks!
Regards,
Vivian |
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BukitUtama_Rawks
Joined: 01 Feb 2006
Posts: 28
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| Posted: Tue Jul 11, 2006 11:43 pm Post subject: |
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| Noor713 is missing in action. |
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mainsna
Joined: 20 Apr 2006
Posts: 33
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| Posted: Wed Jul 12, 2006 11:56 am Post subject: |
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Dear Vivian,
Well, the quotation provided by your lawyer seems right, however, I would strongly not recommend u to disclose on the actual discount being granted since it is prohibited by laws governing lawyers' remuneration.
On the dibursement side, most of them are correct and accurate, however, you can emphasis to get better reduced charges in terms of transporation, printing costs & photocopy charges since they are not fixed. However, the miscellaneous charge is correct.
But, the affirmation fees on statutory declaration is too high since in normal Housing loan, there wud be 2 SD, so for each one, the affirmation is RM4.00. And the stamp duty for each SD also is RM10.00. I dun know how the lawyer can derive it to be up to RM100.00. Please negotiate this one. 
And the registration fee of Power of Attorney is correct. However, it varies depending on how many pages (folio) u have. Each page is charged for RM2.00 and with registration fee etc.
The rest is ok.
Just ensuring the best for the forummers.
Regards,
Mainsna.  |
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Vivian
Joined: 07 Jul 2006
Posts: 34
Location: KL
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| Posted: Thu Jul 13, 2006 1:10 pm Post subject: |
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Hi Mainsna,
Many thanks for your notion and its very useful to me, i had called my lawyer asked for discounted, but they are persist not given discount.
regarding for the stamp duty of facilities agreement, usually they charge for 0.5% of the base on facilities agreement. its suppose RM750, but after they told me add RM20 for another 2 copy,,how come they charge every stamp duty & copy also not included the photocopy cost? some more they dont reduce the 2 SD which is charge RM100. i really no idea how to talk & argue with the lawyer. Yesterday i just signed the offer letter from bank, so the next step is should be sign loan agrrement, now its time to finalized to decided to sign loan agrrement, i really not be willing to sign lor,,,because they didnt get some reduce it for the disbursement charges...Could you teach me any tactic argue with the lawyer? hehehe...
Cheers,
Vivian |
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naivegal
Joined: 22 Apr 2006
Posts: 5
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| Posted: Tue Jul 18, 2006 1:02 pm Post subject: pls advise on loan agreement fee |
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Dear Noor713/Mainsna,
I'm a newbie here. Just wanna check with you whether the following loan agreement fee is overcharged.
Property: terrace with master title, still underconstruction.
Loan amount: RM390k (Islamic Loan)
Legal Fee:
Facilities agreement = 2230
Property Sale Agreement = 10% (223)
Property Purchase Agreement = 10%
3rd Party Deed of Assignment = 10%
Power Attorney = 10%
Total 2900++
Service Tax = 5% of Legal Fee
Disbursement:
Stamping on Original FA = 1960
Stamping on FA 3 copies = 30
Stamping on PSA = 40
Stamping on DOA = 40
Stamping on PA = 40
Stamping on Letter of Hibah = 60
Stamping on Letter Offer = 10
Affirm + Stamp Statutory Declaration = 20
Filing PA = 45
Land Search = 60
Bankruptcy Search = 30
Printing Charges, Postages, Fax, Tel etc = 70
Transportation = 70
MISC = 50
Total due = 5500++
Thank you in advance for your time and advice. |
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mainsna
Joined: 20 Apr 2006
Posts: 33
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| Posted: Wed Jul 19, 2006 4:33 pm Post subject: |
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Dear naivegal,
Actually, your quotation is undercharged  ..on the legal fee side, I dunno how they come up with that figure unless discount granted ...
On the disbursement part, well, just one or two increases, the rest shud be ok... so far.
Regards,
Mainsna |
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tengster
Joined: 19 Jan 2006
Posts: 952
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| Posted: Sat Jul 22, 2006 1:09 am Post subject: |
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dear mainsna/noor
would like to seek your advice.....
for loan of 275k of a freehold property DSL under construction in Shah Alam. I have calculated my payable fee (legal, stamp duty for loan agreement) as below:
Legal fee = RM2375
Stamp duty for loan = RM275 X 0.5% = RM1375
Are the above correct? Could you advise on the reasonable ballpark figure of the disbursement fee possibly charged by the loan lawyer?
Thanks in advance |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Fri Aug 11, 2006 9:58 am Post subject: |
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| tengster wrote: | dear mainsna/noor
would like to seek your advice.....
for loan of 275k of a freehold property DSL under construction in Shah Alam. I have calculated my payable fee (legal, stamp duty for loan agreement) as below:
Legal fee = RM2375
Stamp duty for loan = RM275 X 0.5% = RM1375
Are the above correct? Could you advise on the reasonable ballpark figure of the disbursement fee possibly charged by the loan lawyer?
Thanks in advance |
RM2375 is only for the principal loan agreement i.e. the Facilities Agreement
If your loan is a conventional loan and without title, there should be the following additional legal fees-
Deed of Assignment and Power of Attorney both of which is RM237.50 each
5% tax is charged on the total legal fees. Some lawyers will charge for preparing the Statutory Declarations required by the bank. This should not be more than RM150
As for disbursements, aside from the stamp duty:-
1. Stamping of Facilities Agreement - RM30
2. Stamping of DOA - RM40
3. Stamping of PA - RM40
4. Registration of PA at the High Court- Between RM30-50 depending on the number of pages.
5. Noting of PA - RM20
5. Affirmation of the Statutory Declaration (Most banks require that you affirm two SDs:- one for owner occupancy and another for bankruptcy). The affirmation and Stamping should be RM28
6. Bankruptcy Search - RM30
7. Winding up Search of the Dev (if required by the Bank) - RM30
8. Land Search RM30
9. Miscellaneous RM50
10. Transport RM100 (this is discretionary) |
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gregy
Joined: 15 Sep 2006
Posts: 76
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| Posted: Sat Sep 16, 2006 1:51 pm Post subject: |
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Hi Guys;
I seen many of legal issues being brought up here and i need some help. i am getting my first Condo  The legal fees quote to me by one lawyer is RM 8871. here are the details,
Condo Price: 175K
Loan Amount: 167K
S&P RM3473
Loan Agreement RM2171
Legal Fees for S&P RM 1675
Legal Fees for Loan RM 1552
Total RM 8871
Is this reasonable? Need help and advise. thanks |
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Ritz Crackers
Joined: 28 Jun 2005
Posts: 128
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| Posted: Sat Sep 16, 2006 11:25 pm Post subject: How to calculate Legal Fees for Loan Agreement |
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SRO 2005 (wef 1/1/2006), Schedule 3 laid out the scale of legal fees for loan agreement:
Amount secured or financed --- Scale of Fees
For the first RM150,000 --- 1.0% (subject to a minimum fee of RM300)
For the next RM850,000 --- 0.7%
For the next RM2,000,000 --- 0.6%
For the next RM2,000,000 --- 0.5%
For the next RM2,500,000 --- 0.4%
Where the amount secured or financed is in excess of RM7,500,000
Negotiable on the excess (but shall not exceed 0.4% of such excess)
Note also that, if the property is under sch G or H, further discount are allowable as follows:
Amount of consideration as well as the loan sum --- Scale of Fees
RM45,000 or below --- RM250
RM45,000–RM100,000 --- 25% off the scale fee
RM100,000–RM500,000 --- 30% off the scale fee
above RM500,000 --- 35% off the scale fee
_________________
私は弱い時にこそ強いからです
Garden of Ritz |
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ctdino
Joined: 04 Oct 2006
Posts: 4
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| Posted: Wed Oct 04, 2006 12:54 am Post subject: |
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Hi all
i am newbie here.
I have just purchase a property in klang valley.
The lawyer has given me the quotation. Pls advice.
Property Purchase Price : RM177000
LEGAL FEE FOR PREPARING & FINALISING
Sale and Purchase Agreement RM1680
Entry of Private Caveat RM200
Withdrawal of Prvate Caveat RM150
CKHT-2 RM200
StampDuties
Transfer RM 3040 ?? How they got this amount
SnP Agreement RM40
Statutory Declaration for Entry of Private Caveat RM10 (Again??)
RegistrationFee
Transfer RM300 (???)
Entry of Caveat RM 320
Withdrawal of Caveat RM60
Search Fee
Land Title/Caveat RM 60
Official Assignee/Officer Receiver RM10
Adjudication fee on transfer/DOA RM10
Affirmation fee RM4
Transport RM80
Printing RM80
5% government tax RM111.95
Total RM 6361.95
Is it neccessary for me to pay for the Caveat Fee. It costs a lot.
Please advice . Worry I am overchanged.
Thank you in advance.
CT |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Wed Oct 04, 2006 8:24 am Post subject: |
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Hi all
i am newbie here.
I have just purchase a property in klang valley.
The lawyer has given me the quotation. Pls advice.
Property Purchase Price : RM177000
LEGAL FEE FOR PREPARING & FINALISING
Sale and Purchase Agreement RM1680 (the actual amount is RM1689)
Entry of Private Caveat RM200 - Accurate
Withdrawal of Prvate Caveat RM150 - Accurate
CKHT-2 RM200 - Accurate
StampDuties
Transfer RM 3040 ?? How they got this amount - This is calculated base on the purchase price. 1st 100,000 is 1% and the balance 2% (The stamp duty payable base on your PP is RM2540 and RM10 for adjudication fees but if the valuation of your property is higher then the stamp duty would be higher)
SnP Agreement RM40 - Accurate
Statutory Declaration for Entry of Private Caveat RM10 (Again??) - Accurate, as this is the disbursement and the amount charged above is the legal fees. The SD must be stamped RM10
RegistrationFee
Transfer RM300 (???) - Depends on the Land Office, looking at this amount I am assuming it is in Shah Alam
Entry of Caveat RM 320 - Accurate
Withdrawal of Caveat RM60 - Accurate
Search Fee
Land Title/Caveat RM 60 - per search fee is RM30. So this depends on whether the second search fee is justified
Official Assignee/Officer Receiver RM10 - only applicable if the same lawyer is doing your loan or doesn't trust the solvency of the Vendor
Adjudication fee on transfer/DOA RM10 - Accurate
Affirmation fee RM4
Transport RM80 - reasonable
Printing RM80 - not so reasonable but I guess it includes affirmation fees as there is not indication that you are charged for this
5% government tax RM111.95 - RM111.50 - base on the fees quoted to you
Total RM 6361.95
Is it neccessary for me to pay for the Caveat Fee. It costs a lot.
Please advice . Worry I am overchanged. - This decision is entirely yours, but I always advice my client to enter if they don't trust the Vendor
Thank you in advance |
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johnny
Joined: 25 Sep 2006
Posts: 66
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| Posted: Wed Oct 04, 2006 5:20 pm Post subject: |
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| the legal fees is accurate. we can thank the bar council for the high prices! i am also looking at buying a house... but legal fees is very high... |
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nicklee
Joined: 15 Aug 2006
Posts: 71
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| Posted: Thu Oct 05, 2006 10:05 am Post subject: |
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| Actually i have been wondering that why the buyers keep thinking that the legal fee is high but not the broker's commission. Iam a fair person. Broker doesn't do much work and yet they are paid 1.5%. I remember I went to a lawyer's office with a broker for one of the purchase. I sat quietly there. The broker kept pestering the lawyer to lower the fee and the lawyer was quite reluctant. After so much of the dingdoing, i told the broker why don't you lower your commission so that i can pay the lawyer full fees. After that he just sat quietly there. |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Thu Oct 05, 2006 1:40 pm Post subject: |
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| johnny wrote: | | the legal fees is accurate. we can thank the bar council for the high prices! i am also looking at buying a house... but legal fees is very high... |
Sorry I don't agree that the lawyer's fees is high. The lawyer usually has to ensure that all the documents from the various parties are in order and are completed in time. This include the Developer, the relevant land office, the bank, the other party's solicitor. Negotiation on late interest also takes place and sometimes the lawyer has to claim rental from the purchaser when VP is given earlier. Purchaser seems to think that all the lawyer does is sign the agreement.
I wonder why an architect or a doctor doesn't get this much flak! |
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johnny
Joined: 25 Sep 2006
Posts: 66
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| Posted: Thu Oct 05, 2006 5:25 pm Post subject: |
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maybe because 90% of lawyer who do conveyancing just let the clerk handle and dont even know what is going on with the file.
then when the customer call also the clerk will deal with them. then whole day also the lawyer wont be in the office.
if lawyer is doing all the work and supervising every file closely then can lah.
if i go hospital and nurse does operation for me i sure want discount.
these stupid lawyer who use clerks to do everything spoiling the market. clerk with 60 years experience still is not a lawyer. |
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nicklee
Joined: 15 Aug 2006
Posts: 71
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| Posted: Thu Oct 05, 2006 5:56 pm Post subject: |
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| heex3 ... johnny. Great reply! You have a point there too. |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Fri Oct 06, 2006 8:05 am Post subject: |
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| johnny wrote: | maybe because 90% of lawyer who do conveyancing just let the clerk handle and dont even know what is going on with the file.
then when the customer call also the clerk will deal with them. then whole day also the lawyer wont be in the office.
if lawyer is doing all the work and supervising every file closely then can lah.
if i go hospital and nurse does operation for me i sure want discount.
these stupid lawyer who use clerks to do everything spoiling the market. clerk with 60 years experience still is not a lawyer. |
I think 90% is a little much. But the reason why a clerk is handling the file is because the lawyer's fee's get slashed up to 50%. Only recently has the no discount rule been applied. If the fees is RM1000 and the lawyer is only paid 500 sometimes less, then the lawyer has to concentrate on earning by volume. That means leaving the office and doing marketing. Would you be okay with 50% work for 50% fees. If you are come and see me!  Time and time again I see clients who want 50% discount but expect 24hours turn around time for their documents and expect you to go to their home for signing and have access to you 24 hours. If you pay a doctor 50% of his fees then you deserve to be operated by the orderly, not even the nurse! |
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johnny
Joined: 25 Sep 2006
Posts: 66
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| Posted: Sat Oct 07, 2006 11:07 am Post subject: |
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| cynthusc - you see all your clients personally? |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Mon Oct 09, 2006 8:18 am Post subject: |
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| johnny wrote: | | cynthusc - you see all your clients personally? |
I see all of them personally unless I am on MC. Incidentally some of my clients sometimes try not to contact me but call my clerk instead...they're probably scared I'll scold them esp when they want me to do something dodgy (which is quite often, I might add) |
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johnny
Joined: 25 Sep 2006
Posts: 66
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| Posted: Mon Oct 09, 2006 9:23 am Post subject: |
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| i was thinking of seeing you for a matter... but now scared get scolded! lol |
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