Hi guys,

Kindly refer to the below image for the estimated legal fees given by my lawyer on a 2nd hand condominium in puchong priced at 240k. Is the legal fees too expensive ?:

And this is just an estimation, I believe there could be more..if that's the case the bill could well go up to 10k just for legal fees alone and I havent even count the BANK loan agreement fees (bank legal fees yet)..is it that costly?

This post has been edited by CyberKewl: May 5 2010, 10:07 PM


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ur transport charge by ur lawyers a lot..

1st time buyer? if yes the stamp duty discount around 50% (RM 3,800) due to property purchased not more than 250k. Property under master title is quite troublesome, that why charges also high. Stamp duty cannot run, because charge by the Gov.

ok, so these charges are reasonable? (Except the transportation charges)?

as others pointed out, ask for discount for transportation.
Should be no more then rm200

also, S&P legal fees can ask for at least 30% disc or even 50%
that alone can save u rm700

OK, I think i'll try to ask discount for those. Thanks

from what i know, the charges would be around 1.5 % from the house value .. 1 % for stamp duty and 0.5 % for lawyer fee (or it is the other way around)
hidden charge might be those transportation / document fee which can be nego but it costs a few hundred onli ..
u might need to check with the lawyer again ?

if u need a lawyer contact, i can recommend

The first Schedule of the Solicitors Remuneration Order 1991 sets out the fees to be collected by lawyers for work done in handling the sale or purchase of house based on the purchase price as follows:-

1% on the first RM100,000.00
0.5% on the next RM4,900,000.00
0.25% on the remainder

For each sale and purchase of a house, the solicitors concerned can only collect fees based on the above scale from either the seller or the purchaser and not from both of them.

so for your case whereby your house is 240k:

1% on 1st 100k = RM1000
0.5% on 2nd 140k = RM700
Total = RM1700 as proffesional fee.

usually they will mark up the disbursement to gain more profit. But your proffesional fee is higher compared to the approved scale

You are being ripped off.... find others to compare.... this one you cannot run away too much.... or you'll be sued by the lawyer...

let me correct the statement a little

stamp duty is fixed at 0.5% on loan amount.

Legal fees is charged based on tier;
Completed property

first RM 150k =1% of loan amount
next 850k = 0.70%
next 2m = 0.60%


on normal case, any loan less than RM 300k, ur legal fees is estimated at 2.1% to 2.4% of the loan amount.
legal fees for loan amount more than 300k is expected to be less than 2.0%, and it goes a lot lower as the loan size increases.

hope this helps.

Not fully agree with this...

stamp duty according to the government law... yes.... 0.5%....

Legal fee based on tier??? no way... it's not law... unless it is the private firm's law.... that's why you better ask them before you use them....

but i did some calculation and the figures seems ok except for the transportation fees..this is a 2nd hand condo, not a new property so i suppose its much higher rite due to MOT and stuff

Spoke to the agent about the lodging of the Caveat as I suggested? If remove that, will save RM730.

Also save RM300 if you fill in your own forms for LHDN and the Local Authority and submit yourself.

Regards,

havent yet, tomorrow will meet up with the lawyer to let them know on this. Thanks for the tip