Hi dariofoo,

I'm currently applying for a bank loan and engaged the bank's panel lawyer to prepare the facilities documents as well as SPA. It is a sub sales of a freehold condominium and the purchase price is RM260k and 90% financing (islamic loan). The strata title was issued and in the process of transferring from the developer to the current vendors. I wonder if their charges are excessive. I listed it down for your comments:

1) Legal fee for Facilities documents:
* Facility agreement 2084.00
* 1st charge 208.40
* Purchase undertaking 208.40
* Deed of Promise/ Deed of trust 208.40
* Power of Attorney 208.40
* Entry and withdrawal of private caveat 350.00
* Service tax 196.06
* Stamp duty on the facility agreement 956.00
* Stamp duty on 1st charge 40.00
* Stamp duty on Power of Attorney 40.00
* Stamp duty on purchase undertaking 30.00
* Stamp duty on deed of promise 30.00
* Stamp duty on letter of offer 10.00
* Stamp duty stat declaration 20.00
* Registration fee on 1st charge 120.00
* Reg on Power of attorney 60.00
* Reg on entry & w/drawal of private caveat 420.00
* Search fee - land title 120.00
* Bankruptcy search fee 80.00
* Affirming fee 20.00
* Misc 50.00
* Finance of fee 100.00
* Photocpy/ fax/ courier/ tel 50.00
* Transport, postage etc 250.00

I appreciate your view on this. I will also list down the legal fees breakdown for SPA shortly.

Many thanks.

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Added on July 13, 2011, 1:49 pmHi dariofoo,

Following the above, here is the breakdown of legal fee for the SPA:
* SPA 2259.50
* Memorandum of transfer (MOT) 200.00
* CKHT 2A 300.00
* 6% service tax 165.57
* Stamp duty on MOT 4170.00
* Stamp duty on adjudication 10.00
* Stamp duty SPA 40.00
* Searches - land 120.00
* Printing * photocpy 45.00
* Travelling & transport 200.00
* Fax, postage, courier & tel 50.00
* Misc 50.00
* Registration of MOT 400.00

Both loan agreement and SPA are handled by the same legal firm. Please advise on duplication/ unnecessary charges imposed.

Many thanks.

This post has been edited by puco999: Jul 13 2011, 01:55 PM

Then appoint another one. It's only maximum 50% of the scaled fees.

With regard to the refinance part, you might want to consult a banker in the open forum. Am not an authority to speak on bank's policies with regard to that

Since you're already the owner of the property, your previous lawyer would've sent a copy of the relevant SPA, DOA and security documents (as well as the Notice of Assignment) to the developer. Thus the developer would have your name in the record as the beneficial owner. The previous owner has no say in this anymore. I think what you need to do is to appoint a lawyer to write to the developer formally. They would know how to put it properly to the developer. Perhaps the message got lost in translation in your phone call to them.

Good luck

puco999:


Have you taken a look at the previous quotations put up by other forummers in this thread and my replies to them? Basically there's easily about 30-40 samples, and if you go through at least 5-6 you can a clearer picture on what's necessary and what's not. If there are any doubts, do ask for clarification.

This post has been edited by dariofoo: Jul 13 2011, 02:00 PM

Can I ask a question on signing SPA?
I basically not married but my gf is asking to include her name when signing the SPA. I have no objection on that, but in terms of the lawyer fees, is there any difference in the lawyer fees with adding additional name to the SPA?

dariofoo,

thanks for the excellent advice yday

No. It is fixed according to the price stated in the SPA, irregardless of how much purchasers/vendors are in the picture.

Thanks! That's what I have thought

Cheers, my learned friend. It was a pleasure to have finally met the legend himself.

Glad to have confirmed your thoughts,mate

Hi, i refer to my post here:





I sent the SPA lawyer an email asking her why does she needs so long to prepare all the things, given 7 days to her but she didnt bother to reply despite a reminder was sent to them via sms.

She (SPA lawyer) sent an email to my loan solicitor on 30/06/2011 that she had sent the docs/info required (ori stamped SPA with all info filled) to her (loan solicitor). But She lied!

She sent another email to my loan solicitor on 4/7/2011 with the attached ori stamped SPA & other info required. From there i know she was lying and my loan solicitor is also frustrated with her.

As she did not reply to my questions after 7 days from my email, i sent her an email to put into record of her ignorance on 12/07/2011, Tuesday. I also asked her a few question & giving them 7 days to reply, as follow:
1) Have the Vendor signed & paid for their MOT?
2) Have the Vendor executed the MOT as at today?
3) Any other outstanding issues from the Vendor?
4) The balance amount i need to pay including the estimated amount for the stamp duty.
5) Any other outstanding issues you need from me?

She didnt reply to me yet. I dun think she will reply to my questions. I am in fact gathering all the evidence before i make a complaint to the Bar Council and terminate them as i think i m totally ignored & not represented!

My questions are:
1) Can i terminate them but use back the same stamped SPA?
2) As she is ignoring me, she lied, she keep delaying & she failed to answer my questions, she has failed to perform her task professionally, so can i ask them to compensate me for all the extra costs of engaging a new lawyer?
3) Is there any risk if i terminate them? From the reasons above do i hv strong ground to terminate them?
4) She put in her letter to my loan socilitor that:



Wat is quoted to me was nearly 9-10k but i only paid them RM3k as of today. I dunno what is the actual meaning of her statement above.
5) Any other advice(s) from u??

And i think most of the lawyers will not take this kind of case right?

I hope you can help me on this. Please

Thank you very much.

This post has been edited by irise.ufall: Jul 14 2011, 03:11 PM

okay thanks for ur advice dariofoo ^^

HI, i have a query here regarding loan agreement fee. i thought the legal fee & stamp duty is fix on a rate, and lawyer should follow the rate to charge client. but it seem like not true. for loan RM320,450, i pay RM5,500 for tatal fee. no detail breakdown some more. lawyer only give a receipt in total figure, no inv also. pls advice. thx very much

I remember is something like for the first RM100K, it will be charged 1%, subsequent will be 0.7%. Correct me if I am wrong, guys.

As i know it should be 1st 150k = 1% = RM1500
subseq 0.7% = RM1193.15
1500+1193.15 = RM2693.15 x 6% govn tax = 161.60 = RM2854.75
stamp duty 0.5% = RM1602.25
Total legal + stamp duty = RM2854.75+RM1602.25 = RM4457

the lawyer charge 5500, he untung RM1043

for loan 320,450

This post has been edited by may1126: Jul 14 2011, 03:01 PM

Answers to your questions:
1) Yes. It does not affect the SPA
2) No you can't, but you can complain to the A&S DB.
3) What risk? It is a contract. If you're not happy with the services rendered, you terminate their services.
4) Whether or not fees are paid, that is a different issue altogether. It doesn't mean that she doesn't do her work professionally. Keep the letter as further evidence in your complain against her.

There are roughly 2000 law firms in Klang Valley. Out of that, at least half, or more than half, practise conveyancing. Am sure you'll find a replacement lawyer.



This post has been edited by dariofoo: Jul 14 2011, 04:20 PM

You have the right to ask for a breakdown of charges - it's normally called Note of Charges. Insist for it.

Total fee might include disbursements (expenses) and 6% govt tax. Don't forget that.

Download the SRO at the first page to get a fair idea of what and how much can be billed by your lawyer.

Thx for ur advice had read SRO at the 1st page u provide.

for loan 320,450
my calculation = 1st 150k = 1% = RM1500
subseq 170,450 x 0.7% = RM1193.15
1500+1193.15 = RM2693.15 x 6% govn tax = 161.60 = RM2854.75
stamp duty 320,450 x 0.5% = RM1602.25
Total legal + stamp duty = RM2854.75+RM1602.25 = RM4457

pls correct me if wrong, thx

the lawyer charge 5500, he untung RM1043 ; Disbursement = RM1043 ?

just curious that how much MAXIMUM lawyer can charge for disbursement

Hi,

For rental tenancy how to calculate legal fees?

Thanks.

*removed*

This post has been edited by lyt25_1234: Jul 14 2011, 10:08 PM

Dario,
I need your advise on this loan agreement fees since the bank is using different lawyer.Many thanks sifu