hi new in property and in need of advise. i just got a quotation for a subsale DS at 298k. would like to know if the disbursement is alright.

Legal Fees
Towards preparing Sale & Purchase Agreement for your execution, forwarding to the other parties for their execution, attending to the stamping, forwarding to the respective parties and other legal work not specifically mentioned

[150,000 x 1% = 1,500] + [148,000 x 0.7% = 1,036] =RM2,536.00
- Form CKHT 2A RM 200.00
- Form 19B (Entry of caveat) RM 200.00
- Form 19G (Withdrawal of caveat) RM 150.00

6% Govt. Service Tax RM 185.20

total : RM3,271.20

Disbursements
1) Title Search RM 60.00
2) Bankruptcy Search RM 40.00
3) Stamping of Sale & Purchase Agreement RM 40.00
4) Stamping of Memorandum of Transfer
5) Entry of Private Caveat + Notice RM 320.00
6) Withdrawal of Private Caveat RM 60.00
7) Registration of transfer RM 400.00
8) Affirmation fees RM 30.00
9) Transportation, papers & courier RM 150.00
10) Telephone, fax, stationery, etc RM 100.00

totAL:RM1,200.00

total legal fee: RM4,471.20

Stamp Duty for the Memorandum of Transfer calculated as follows:
(100,000 x 1% ) + (198,000 x 2 %) = RM4,960.00
50% =RM 2480.00
** for first time home buyer & below 350k I heard there is 50% stamp duty deduction, is this true?

total legal fee + stamp duty=RM 6951.20

cool, thanks a lot dariofoo
cheers!

dario, the lawyer quoted an additional rm100 for 'application for 50% remission on stamp duty for transfer'...is this normal?
the secretary requoted the disbursement to be RM1544..how did it get inflated this much from initial RM1200....
may i also know the typical range of disbursement?
this area seems to be the 'gray' area where lawyer 'adjusts' it as they like since we dont know the terms they use

This is what the lawyer actually charge me... I have pay him the deposit RM500 last friday but i just get his quatation after chasing him for 4 days. I just curious why private land search have to do 3 times & the transportation fee+ telephone+printing+ miscellaneous is quite high...

Memorandum of tranfer ( 298,000.00) - 2536
Entry of Private Caveat - 200
Withdrawal of Private Caveat - 150
Application for stamp duty Remission under PUA 211 - 100
Real Property Gain Tax 2A (RM200 per form) - 200
6 % government tax - 191.16

Total = 3377.16

Disbursement
Private land search on individual title - 30
Private land search on individual title before redemption/loan sum - 30
Private land search on individual title before presentation of transfer - 30
Bankrupt search on vendor vide e-services ( RM17 per person) - 51
Stamping fee for sales & purchase agreement - 40
Affirmation fee on statutory declaration for stamp duty remission - 10
Affirmation fee on statutory declaration for entry of private caveat - 10
Affirmation fee on statutory declaration for non bankruptcy - 10
stamp duty on statutory declaration for non bankruptcy - 10
Registration fee for entry of private caveat - 320
Registration fee for withdraw of private caveat - 60
Registration fee for Memorandum of transfer - 400
Travelling expenses & charges to Shah Alam office, LHDN, Comm. for Oaths' office,vendors' solicitor office, developer office, etc. - 200
Courier and postage charges, telephone & fax charges - 50
Printing & photostate charges - 100
Miscellaneous & etc - 50

Total = 1401.00


TOTAL : = 4778.16

Kindly take note that the abovementioned fee & disbursement do not include the stamp duty payable by u on the transfer(subject to government valuation) in due course - 4960.00

( Note: 50% remission on stamp duty payable on transfer) - 2480.00

This post has been edited by drakenkorin: Apr 7 2011, 11:12 PM

one more question i have about loan agreement.
normally the owner would want a total upfront of 10% of house purchase price.
so typically i will need to have bank pay 90% of the remaining balance in form of bank loan.

if i want to reduce my margin of finance(bank loan) by let's say 10%, meaning i borrow 80% in total, what will happen to the balance 10%??

do i pay it upfront to the vendor?
or do i pay the 10% i want to reduce to bank after it makes its transaction?

Here is the quotation i get for loan agreement from the same lawyer who did my SPA.
Please help to comment if these are reasonable or anything that can be waived since the lawyer is same:

Legal fee
profesional fee (RM 274,665.00) RM2372.66
first party legal charge RM237.27
entry of bank private RM 200.00
withdraw of bank private RM 150.00
Application for stamp duty remission under PUA 423 RM 100

total : 3059.93

disbursement
land search on individual title RM30
bankcruptcy search vide e-service RM85
Purchase loan document RM 100
Affirmation fee for statutory declaration for stamp duty remission RM10
Affirmation fee for statutory declarattion for private caveat RM10
Affirmation fee for statutory declaration for onwer occupation RM10
Affirmation fee for statutory declaration for non bankcrupcy RM 10
stamp duty for letter of offer RM10
stamp duty for facilities agreement(3 copy) RM30
stamp duty for charge annexure(4copy) RM40
stamp duty for statutory declaration onwer occupation RM 10
stamp duty for statutory declaration for non bankcrupcy RM 10
registration fee for entry of bank caveat RM320
registration fee for withdraw bank caveat RM60
noting fee for power of atthoney for entry of bank caveat RM 20
noting fee for power of atthoney for withdraw bank caveat RM 20
registration fee for memorandum of charge RM100
noting fee for power of attorney for memorandum of charge RM 20
stamp duty RM680
travel expences RM 200
courier RM 50
Printing & photostat RM100
Telephone & fax RM50
Miscellaneous RM50

total : RM2030

Grand total laon agreement : RM 5273.53