Hi dariofoo,
In purchasing a sub-sale property, i understand that there are 3 type of fees as below, correct me if i'm wrong

i) Legal Fee:
From the 1st pg in V1 thread, i calculate the legal fee for $565k is $ 4,405.
Is this the legal fee for SnP ?
I also understand that there are many misc fees under legal fees e.g transportation fees, etc. Is the $ 4,405 inclusive of the misc fees ? I wud assume no.

ii) Stamp Duty
Using the calculator, the stamp duty for $565k is $10,950.
Is the above number also inclusive of legal fee stamp duty and loan agreement stamp duty ?

iii) Loan Agreement Legal Fees
How to calculate this ?
Is this for the loan agreement documents between me and the bank ?

This post has been edited by Milo_O: Dec 9 2011, 03:21 PM

May i know how to calculate the stamp duty for the loan doc ?

Thanks in advance dariofoo

This post has been edited by Milo_O: Dec 13 2011, 11:11 AM

Thanks dariofoo

I have few more questions as below,

i) Lets say i'm a purchaser and i have interest in a property. However the house is joint owned by a couple (wife n husband)
Yesterday when i signed the Letter of Offer and Acceptance (LOA), only the wife name is stated inside the LOA.
Is it ok or both names must be stated inside the LOA ?

ii) One of the verbal agreed terms is that the current owner wud leave 70% of the furnitures/renovations and electrical applicances.
Lets say during the SnP signing, it is stated inside the SnP, however the owner refuse to sign and argue that at that moment, he don not want to
handover the furniture. Is there anything that we can do ? I just sign the LOA.

iii) During the LOA signing, i have requested the agent to introduce a lawyer. The current owner is also interested in using the same lawyer as well
which means that we are using a common solicitor. In this case, the common solicitor is representing whose interest more ? The owner or me ?

Many thanks . More questions wud be coming as i just sign my LOA for my 1st house.

Pls help me to review the attached lawyer quote
Property details,

Freehold
Individual title
Joint ownership at seller side (husband and wife)
Seller using different lawyer
Joint ownership at buyer side (me and girlfriend)
Buyer using different lawyer
Selling price: RM567k
Loan Amount: RM510k

S&P and loan lawyer is the same lawyer.

From the v1 thread and v2 thread, below is the info that i have gather.Correct me if i'm wrong

S&P
Misc fees of RM250
Can i nego for discount ?

Registration on MOT RM 500
Statuatory declaration RM 20
What is this and is this necessary ?

Loan Agreement
Stamp Duty on loan agreement RM 2,555 ?
My loan is RM 510,300. 0.5% from loan amount is RM 2,551.

Preparation of charge document RM 402.21
Registration Fee on Charge Document RM120.00
Registration Fee on Entry of Private Caveat RM340.00
Registration Fee on Withdrawal of Private Caveat RM80.00
Statutory Declaration for Owner Occupancy RM 20.00
Stamp Duty for Statutory Declaration for Owner Occupancy RM 20.00
Stamp Duty for Letter of Offer RM20.00
Purchase of Document RM100.00
What is this and is this necessary ?

Land Search RM 60
This is have been charged at S&P. Can i nego for waiver ?

Bankruptcy Search (RM12-00 per person)
I have to pay for seller bankruptcy search ?

Courier charges and Misc- Transport, phone calls, postage, fax, photocopies etc. RM 250
This is considered expensive since i'm using the same lawyer for S&P and loan agreement.

Any inputs and comments are most welcome

This post has been edited by Milo_O: Dec 15 2011, 04:34 PM


Attached File(s)
 Bill_Loan____Title__1_.pdf ( 10.32k ) Number of downloads: 98
 Bill_P____Title__1_.pdf ( 32k ) Number of downloads: 78

Thanks Dario. I have further clarifications.
Apologize if u may have answer this but i cant seem to digest the answer.

SPA

Registration on MOT RM 500
Statuatory declaration RM 20
What is this and is this necessary ?

Loan Agreement
Preparation of charge document RM 402.21
Registration Fee on Charge Document RM120.00
Registration Fee on Entry of Private Caveat RM340.00
Registration Fee on Withdrawal of Private Caveat RM80.00
Statutory Declaration for Owner Occupancy RM 20.00
Stamp Duty for Statutory Declaration for Owner Occupancy RM 20.00
Stamp Duty for Letter of Offer RM20.00
Purchase of Document RM100.00
What is this and is this necessary ?

Thanks. I appreciate the respond

@ SunnyK,
The next following working day is count as the 1st day.

This post has been edited by Milo_O: Dec 24 2011, 04:47 PM

Question: EPF withdrawal

Situation: Me and my girlfriend as a buyer wud like to withdraw EPF Account 2 for house withdrawal for a joint ownership for a property.
I already have a joint ownership of one property with my mother
My girlfriend already have a joint ownership of one property with his brother.

In this situation, can me and my girlfriend still withdraw from EPF to purchase a property ?



This post has been edited by Milo_O: Dec 31 2011, 01:44 PM

Hi dariofoo,
Thanks for the respond
Me and my girlfriend have not made any withdrawal from EPF Account 2 before

I'm planning to withdraw from my EPF Account 2. At the same time, i'm also planning to sign up for 80% loan from a bank.
At the moment, i have enough cash on hand to pay the 10% deposit which means i have the remaining 10% will come from my EPF account 2.
My question is when is the last day for me to make the 10% payment ?
Just right before 3 months from the SPA signed ?
The reason is i'm trying to drag the EPF withdrawal as long as i could as EPF is going to announce the dividend.
Once the dividend is announce, i will immediately submit for withdrawal but at the same time, i do not wish to take any risk of penalty charges of late 10% payment if there is any due to the time taken to process the withdrawal.

dariofoo,
I think u may have misunderstand my question

Property Selling Price = $ xxx (100%)
Deposit = 10% payable by myself using own cash
Loan from bank = 80%

Remaining 10% going to be paid using EPF withdrawal. Is this 10% to be paid out on the date of SPA execution ?

This post has been edited by Milo_O: Jan 19 2012, 01:11 PM

Thanks dariofoo
I have another question here. What is the meaning of Letter of Undertaking ?
Who issue it and who shall receive it ? What is the reason of issuing and what function does it do ?

Thanks

---

Added on January 19, 2012, 2:07 pmLet me make few phone calls to EPF hotline and get some clarification.
Few times wud ensure the authenticity of the information as u know, goverment office always provide different answer from person to person.

This post has been edited by Milo_O: Jan 19 2012, 02:07 PM

Thank u !

This is the answer to a question related to EPF withdrawal before dividend announcement.

Question:
Scenario 1:
If i make my EPF withdrawal after 31 Dec and before EPF dividend announcement (usually on March), it would not affect the dividend payment.
Dividend payment would take the last number as of Dec for dividend calculation

Scenario 2:
If i make my EPF withdrawal before 31 Dec e.g Oct and before the EPF dividend announcement, dividend payment would take the last number as of Oct for divident calculation

This is a one time calling to EPF center.
I will call another one more time to get confirmation and validate the above info.
I hope my explaination can be understand by u.
My humble apologies if my explaination is not clear. Let me know and i will try to simplify it

Hi dariofoo,
May i know what is private caveat (PC) ?
How does it works and how does it helps the buyer ?
What does it do and what it is function for ?

Thanks.