I'm purchasing a double story linked house in Bandar Bukit Raja Klang. I'm a first timer in purchasing a property and seeking for any advice if the legal fees of the house is too high/OK?. The house is still under construction and will be completed (expected) in 2 years. The information for this purchase are as follows:

Property price : RM 336,000
MoF : 90%
Loan amount : RM 317,038 (including MRTA)


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Disbursements
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1. Stamp Duty on Charge RM 40.00
2. Stamp Duty on Facility Agreement RM 1,620.00
3. Bankruptcy Search RM 100.00
4. Registration fee on Charge RM 120.00
5. Search fee on title RM 100.00
6. Registration fee on Caveat RM 340.00
7. Registration fee on Withdrawal of Caveat RM 80.00
8. Miscellaneous RM 50.00
9. Travelling Expenses RM 150.00
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TOTAL RM 2,600.00
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FEES
====
1. Loan Agreement RM 1,735.00
2. Charge RM 266.00
3. Lodgement of Caveat RM 200.00
4. Withdrawal of Caveat RM 150.00
5% Service Tax RM 117.60
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TOTAL RM 2,468.60
================

In summary :


Disbursements RM 2,600.00
Fees RM 2,468.60
-------------------------------------
GRAND TOTAL RM 5,068.60
======================


Is this figure reasonable? Anyone, who is more experienced in property purchase here, care to advice on these figures?

Any advice is greatly appreciated.

This post has been edited by ssskom: Apr 22 2010, 11:28 PM

Looks like the lawyer has already given you a 35% discount on the loan agreement, based on scale rate, legal fees should be RM2,669.

However your stamp duty should be 0.5% x RM317,038 = RM1,585.

If take Islamic Loan, have another 20% rebate on the stamp duty, save RM317.

Need help to shop around for housing loan? I can recommend you other banks.

Call/sms/email/PM me for further info.

Regards,

Thanks for your fast reply. I actually talked to the law firm earlier today and they told me that the stam duty is calculated based on the higher thousand-th figure, i.e for RM 317,038, I will be charged : RM 318,000 x 0.5% = RM 1590.00

(hmm...maybe I should call them back to ask for the RM 30 excess....)

But is it true that the stamp duty is calculated based on the higher thousand-th figure? i.e, if your loan is RM 300,00.01, then the stamp duty charged is calculated based on RM 301,000.00, just because of that 1 cent ? Any help is greatly appreciated

This post has been edited by ssskom: Apr 23 2010, 12:03 AM

hei you property is under consturxtion so i doubt there is individual title to the property? and if ur purchasing a property from the developer no way they will alow you to place a private caveat on their land...you can save a lot...