Malaysia Real Estate

[nicklee]

Well ... just need to say that finally we found a good and reliable lawyer to help us. Appreciate it if you could let us know your contact or if you are 'shy', just PM us.

[ferry_ong]

Master Title
Price = RM 320K
Loan = RM 272K

How much is the total expenses (legal fee + stamp duty + etc).
I'm a foreigner so need to apply for FIC. Should I apply for local authority consent? If still Master title, is stamp duty required? How many stamp duty is there? I read in other thread there are 3: S&P, Loan, Title transfer. Bit blur here.

[cynthusc]

Johnny, my bark is louder than my bite. Anythin e-mail me at cynthusc@yahoo.com.

Cheers!

[cynthusc]

Master Title
Price = RM 320K

Legal Fees
Preparation of S&P RM2690
CKHT2 RM 200
FIC application RM 300
State Consent RM 300.
5% tax RM 174.50

Disbursements
1. Stamping of S&P 40-00
2. Adjudication of DOA 10-00
3. Stamping of DOA 30-00
4 Stamp Duty (estimated) 5,400-00
5. Land Search 30-00
6. Stamping of Deed of Mutual Covenants 40-00
(This is required only if the Developer requires it)
7. State Consent application fees 150-00
(This depends on the relevant state authority)
9. Other miscellaneous charges 100-200 (depending on the lawyer)


Loan = RM 272K

Legal Fees
Facilities/Loan Agreement RM2354
Deed of Assignment RM 235
Power of Attorney RM 235
Statutory Declaration RM 100
(This depends on whether the bank requires the SDs)
5% service tax RM146-20

Disbursements

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
(Depending on the number of pages)
4. Stamp Duty on FA 1,360-00
5. Bankruptcy search 10-00
6. Winding Up Search (if required by the bank) 10-00
7. Land Search 30-00
8. Purchase of Documents (depending on the bank) 120-00
9. Other charges 100-200 (depending on the lawyer)

How much is the total expenses (legal fee + stamp duty + etc).

I'm a foreigner so need to apply for FIC. Should I apply for local authority consent? Yes. A foreigner must get Consent. It will take between 3-4 months so you need to factor this in.

If still Master title, is stamp duty required? How many stamp duty is there? There are two. Once for the transfer or the assignment. In this case as the property is still under Master Title, unless you are purchasing the property from the Developer then you will have to pay the stamp duty on the assignment. Once the title is issued this stamp duty can be transferred onto the memorandum of transfer. If purchasing from Developer, only when the title is out will you need to pay the transfer stamp duty. FYI when there is no title an assignment is used so they have similar purposes ...to transfer ownership of the Property. The second stamp duty is for the loan. If you do not take a loan then you don't have to pay! It is fixed at 0.5% of the loan sum. I read in other thread there are 3: S&P, Loan, Title transfer. Bit blur here.

[ctdino]

cynthusc.

Thanks for your advice. Appreciate it very much.

[ahchi]

Hi cynthusc,

I've just purchase a DSL house in Shah Alam lately, already paid the deposit and now is in the progress of applying house loan and preparing to sign the S&P agreement. The detail is as below :

House Type : DSL, Free hold
Cost : RM 225K
Loan : RM 200K
Other: Previous owner already finished payingthe house loan and have the title on hand.

So far I'm dealing with a lawyer who's introduced by the house selling agent, I got the quotation of a lum sum of RM6.6K for the S&P arragement, don't know about the loan legal fees yet. BTW, I plan to let this lawyer to settle the loan agreement & legal fees too. May I know what should be the reasonable price (total lum sum of S&P + loan etc.) for purchasing my current house in individual breakdown cost. Thanks in advance.

[johnny]

ahchi, s&p should be like this:-

1. legal fees - 2025
2. 5% service tax - 101.25
3. stamping - 40
4. stamp duty - 3500
5. title search - 30
6. disbursements - 100-200
7. adjudication 10
8. registration - 300

[ahchi]

Hi Johnny, thanks for the figure provided. BTW, may I know what should be the approximate legal fee for bank loan? Thanks in advance.

[oks911]

House price : RM238K
Loan: RM200K
Tenure: 30 yrs

Sales & Purchase Agreement (S & P)

Fee RM2116
Sales and purchase Agreement RM200
CKHT 2 RM2316 (RM2116 + RM200)

Add 5% Government service tax RM115.80
---------------------------------------------------------
Total = RM2431

Disbursement
1) Stamping fee on Sale & Purchase Agreement RM40
2) Adjudication RM10
3) Land Search RM60
4) Registration fee on MOT (Selangor) RM300
5) Bankruptcy search RM20
6) Stamp duty on transfer RM3760
7) MISC RM50
Transportation and courier charges RM150
------------------------------------------------------------------
GRAND TOTAL= RM6821


Housing Loan (title)

Fee
1) 1st Party 1st Legal Charge RM1800
2) Application for lodgement & Nitice for Withdrawal of Private Caveat RM350
3) Statutory Declaration RM50
Add 5% Government tax RM110
---------------------------------------------------------------
Total= RM2310


DISBURSEMENTS
Stamp duty on:-
a. Loan Agreement (orginal & Copies) RM1030
b. 1st Legal Charge RM40
c. Statutory Declaration RM10
d. Letter of Offer RM10
Searches:-
a. Bankruptcy RM30
b. CTOS RM50
c. Title RM90

Registration fees on:-
a. 1st Legal Charges RM120
b. Application for Lodgement of Private Caveat RM340
c. Notice for withdrawal of Private Caveat RM80
d. Letter of consent by XXX (bank) RM30

Affirmation fee on Statutory Declaration RM16
Printing cost of loan doc charge by bank RM65
Tel, Fax, postage & courier expenses RM75
Travelling expenses RM150
MISC RM50
--------------------------------------------------------------
Total= RM2186

GRAND TOTAL= RM4496


Is the price resonable? Grand total is RM6821 + RM4496 = RM11317 !!!!!!!
That is out of my expectation. I never thought the S & P and Loan agreement charge me so damn high! Si fu please come out advice me! Billions thanks!

[cynthusc]

House price : RM238K
Loan: RM200K
Tenure: 30 yrs

Sales & Purchase Agreement (S & P)

Fee RM2116
Sales and purchase Agreement RM200
CKHT 2 RM2316 (RM2116 + RM200)

Add 5% Government service tax RM115.80
---------------------------------------------------------
Total = RM2431

Disbursement
1) Stamping fee on Sale & Purchase Agreement RM40
2) Adjudication RM10
3) Land Search RM60 (RM30)
4) Registration fee on MOT (Selangor) RM300
5) Bankruptcy search RM20 (not required)
6) Stamp duty on transfer RM3760
7) MISC RM50
Transportation and courier charges RM150
------------------------------------------------------------------
GRAND TOTAL= RM6821


Housing Loan (title)

Fee
1) 1st Party 1st Legal Charge RM1800 (lawyer gave you less RM50)
2) Application for lodgement & Nitice for Withdrawal of Private Caveat RM350
3) Statutory Declaration RM50
Add 5% Government tax RM110
---------------------------------------------------------------
Total= RM2310


DISBURSEMENTS
Stamp duty on:-
a. Loan Agreement (orginal & Copies) RM1030
b. 1st Legal Charge RM40
c. Statutory Declaration RM10
d. Letter of Offer RM10
Searches:-
a. Bankruptcy RM30
b. CTOS RM50 (usually this is done by the bank FOC)
c. Title RM90

Registration fees on:-
a. 1st Legal Charges RM120
b. Application for Lodgement of Private Caveat RM340
c. Notice for withdrawal of Private Caveat RM80
d. Letter of consent by XXX (bank) RM30

Affirmation fee on Statutory Declaration RM16 (RM4 per person)
Printing cost of loan doc charge by bank RM65
Tel, Fax, postage & courier expenses RM75
Travelling expenses RM150 (Ask for discount here)
MISC RM50
--------------------------------------------------------------
Total= RM2186

GRAND TOTAL= RM4496


Is the price resonable? Grand total is RM6821 + RM4496 = RM11317 !!!!!!!
That is out of my expectation. I never thought the S & P and Loan agreement charge me so damn high! Si fu please come out advice me! Billions thanks!

[handsomeboy]

Im purchasing a newly completed DSL house from owner for 355k. Below is the quotation from lawyer (excluding loan fees):

LEGAL FEES
Sales and Purchase Agreement 2935
CKHT 200
entry & withdrawal of private caveat 350
-----------------------------------------------------
3485
Service tax 5% 174.25


DISBURSEMENT
reg fee on entry & withdrawal
of private caveat 380
stamp duty on SPA 40
Adjudication 10
Stamp duty on MOT 6100
Registration fes on Transfer 300
Land search 90
fax, courier, postage, photostate etc 80
transport charges 100
misc charges 50
--------------------------------------------------------
7150

TOTAL = 10,809.25 !

Is there any part where charges are unnecessary or I can ask for discount?
Thanks in advance!

[cynthusc]

[handsomeboy]

Thanks cynthusc. Think I will take the private caveat thing.

But those small charges looks a bit high.
Fax, photostate for RM80? I can supply them with few rim of Double A paper if they want.
Transport RM100? Are they using Boeing 737?
Misc RM50? All items are categorised, what else misc they are refering?
.

[cynthusc]

[handsomeboy]

Thanks cynthusc.

I can understand those adequate charges. But I just feel those breakup charges are a bit on the high side. Somemore most of them use part time dispatcher only. Sorry if my previous post insulted someone.

[johnny]

handsomeboy, i agree with cynthusc. all lawyers charge the same, and your language is not something acceptable EVEN IF you are paying her, which you are not by the way.

also, you will be interested to know that part time despatch clerks cost MORE than full time ones.

[handsomeboy]

Hi johnny, Im not pointing that towards cynthsc. I dont even know if cynthsc is a lawyer or not. Please note that I did thank cynthsc on the reply. And I have apologise to cynthsc for feeling offended.
Im just saying that I feel the charges on those are high. I have to admit that Im new to this and I dono the actual running of the process by the lawyer. I better keep this short, thats all I have to say on this matter.

[boomerkk]

johnny, i don't think all lawyers charge the same as some will be happier to negotiate compared to others

handsomeboy, i know the feeling. i feel it kinda sucks paying upfront of tens of thousand of dollars and knowing that none of it is actually going into the property.
the lawyer fees aren't so bad actually, the bulk of it is actually the stamp duties. my lawyer told me that they've actually written a letter to LHDN asking why are the duties are so much and making it more difficult to the average citizen to buy a property esp. fixed-income earners like me

[sksk]

Hi cynthusc and others,

Can advice around how much I need pay for my SPA and Loan agreement

Property Detail :
Type: Apartment, KL, Completed, buy from owner, no strata title
Purchase Prices: RM157,000
Loan Amount : RM141,300

Beside that how much should I pay for my lawyer if the deal is terminate? Haven't sign SPA, only sign offer letter. But he got help me draft the SPA, checking this and that, so I need to pay for legal advice also, right?

Currently the deal will terminate and I will get another lawyer to make a new deal, sign new offer letter and do SPA & Loan agreement. So I need to know the price will around how much.

Got 1 lawyer quo me
SPA, include stamp duty is around RM4500
Loan is around RM3500 (lawyer say owner still owe bank loan will need add more RM700-800)

the lawyer also say there maybe have some other disbursement haven't add in.

Thank you.

[cynthusc]

Hi cynthusc and others,

Can advice around how much I need pay for my SPA and Loan agreement

Property Detail :
Type: Apartment, KL, Completed, buy from owner, no strata title
Purchase Prices: RM157,000
Loan Amount : RM141,300

Beside that how much should I pay for my lawyer if the deal is terminate? Haven't sign SPA, only sign offer letter. But he got help me draft the SPA, checking this and that, so I need to pay for legal advice also, right?

Currently the deal will terminate and I will get another lawyer to make a new deal, sign new offer letter and do SPA & Loan agreement. So I need to know the price will around how much.

Got 1 lawyer quo me
SPA, include stamp duty is around RM4500

Legal Fees (S&P)
S&P RM1049
CKHT 2 RM 200
5% tax RM 62.45

Disbursements
Stamping RM40
Land Search RM30
Deed of Mutual Covenants (if any) RM40
Adjudication of DOA RM10
Stamping of DOA copies RM30
Stamp Duty RM2140
Misc RM50
Transportation RM100

Total : 3,751.45


Loan is around RM3500 (lawyer say owner still owe bank loan will need add more RM700-800)

Legal Fees (Loan)
Facilities/Loan Agreement RM1413
Deed of Assignment RM141
Power of Attorney RM141
Statutory Declaration RM50 (depends on the lawyer)
Tax @5% RM87.25

Disbursements
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
Affirmation fees 16-00
Registration and Noting of PA (no. of pages) 120-00
Stamp Duty on FA 710-00
Bankruptcy search 30-00
Winding Up Search (if required by the bank) 30-00
Land Search 30-00
Purchase of Documents (depending on the bank) 100-00
Miscellaneous 50-00
Transportation 100-00

Total : 3158.25

If the Vendor still has a loan, the Vendor should pay for the fees related to the redemption of the loan and not you. Did you agree to pay for the preparation of the Receipt and Reassignment?

the lawyer also say there maybe have some other disbursement haven't add in.

Ask him to add in or itemise it so that you will know.
Thank you.

[sksk]

Thank you cynthusc.

How about if the deal is terminate, my lawyer haven't give me the bill yet. He is lawyer for SPA and loan. Normally how much will charge? The legal advice will more than thousand?

[cynthusc]

[sksk]

Hi all pls advice,

Legal Fees (S&P)

S&P - RM1549
CKHT 2 - RM 200
Deed of assignment - RM200
5% tax - RM 97.45

Disbursements
Stamping S&P - RM40
Stamping DOA - RM40
Land title search - RM100
Stamp Duty - RM2140
Official Assignee/ROC/Winding-up search - RM20
Attestation fee on statutory Declaration - RM20
Printing/telephone/postage - RM50
Miscellaneous - RM50
Transportation/courier - RM150

Total : 4656.45

-----------------------------------------

Legal Fees (Loan)

Facilities/Loan Agreement - RM1413
Deed of Assignment - RM200
Power of Attorney - RM200
Statutory Declaration - RM50
Tax @5% RM93.15

Disbursements
Stamp Duty on FA - RM740
Stamp Duty on Charge - RM40
Stamp Duty on Deed of Assignment - RM40
Stamp Duty on Statutory Declaration - RM20
Registration fee PA - RM100
Attestation fee on Statutory Declaration - RM20
Land title search - RM100
Security documents - RM150
Printing/telephone/postage - RM50
Miscellaneous - RM50
Transportation/courier - RM150

Total : 3416.15

Thank you.

[cynthusc]

[sksk]

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.