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Legals fees for loan

 
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maxtor



Joined: 12 Jul 2005
Posts: 55

PostPosted: Tue Jul 12, 2005 12:59 pm    Post subject: Legals fees for loan Reply with quote

Hello,

Need to clarify something as this is my first time buying house..

Recently i just purchase a house RM 400,000 by taking 90% loan which is around RM 366,000

I have already signed the S&P and the fees is settle by the developer... anyway i have just got applied loan and went up to the lawyers office to sign the loan agreement and they charge for a total around RM 5,000...

is that the standard fees ??? i thought they only charge based on the table somethine like 1% for first 100,000 and 0.5% for subsequent of 4,900,000????

Any help is greatly appreciated...

Thanks..
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nick1994



Joined: 24 Apr 2005
Posts: 6116

PostPosted: Tue Jul 12, 2005 1:17 pm    Post subject: Reply with quote

.....r u paying the lawyer based on his word of mouth that its 5K?......

..if not, surely u must have a legal bill and surely that bill will itemise what u'r paying 4.....

...i'm quite sure it includes disbursements, stamping duties, preparation of POAs etc.....
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maxtor



Joined: 12 Jul 2005
Posts: 55

PostPosted: Wed Jul 13, 2005 11:34 am    Post subject: Reply with quote

thanks..

yes... i have those itemised billing like what you have said..

just wondering if that is the standard price...
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digitalkl



Joined: 21 Jun 2005
Posts: 276

PostPosted: Wed Jul 13, 2005 2:00 pm    Post subject: Reply with quote

...
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hkgan



Joined: 01 Aug 2005
Posts: 17

PostPosted: Thu Aug 04, 2005 11:24 pm    Post subject: hi Reply with quote

I recently also bought a house at RM400K also. Legal fee is about $5K too.
However, I am going to ask for discount personally by talking to the lawyer. I will convince him by recommending friends, boast that I am a property investor and will buy more houses in the future, etc.
Wink
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