Good Day,
i am letting go of a property at RM132k, the purchaser's lawyer already emailed me the s&p draft. They seem to indicate that i need to get my a lawyer. As a vendor do i really need a lawyer ? If i do how much will be the total fee that i need to pay ?

Thank you,

Good Day Dario
Am in advance progress of selling my house for RM132.

As for the lawyer's fee i got such break down.

Legal Fee

1. Discharge of Charge RM300-00
2. CKHT 1A & 3 RM900-00 (RM300 per vendor)
3. 6% govt tax RM 18-00
RM1,218-00


Disbursement

1. Stamping (Discharge Form) RM10-00
2. Registration of Discharge RM70-00
3. Misc RM50-00
4. Travelling charge RM200-00
RM330-00

Total : RM1,548-00

I was told that i could settle the CKHT myself thus save me that RM900. Currently underway learning the procedures.
I took the house loan, but the bank that time wanted 2 more names. So my mom and sibling's name is in the S&P now.
It was only me settling the loan so far.
Q1)So do the other 2 vendor need to submit CKHT also ?
Q2)S&P not signed yet, so i should collect the 10% right after the S&P signing right ?. Because they are telling me that they will bank in after the S&P signing.
Q3) the fees are estimates only as a disclaimer in their email. So i can ask them to give a formal quotation before the S&P right ? I just wanna avoid paying the extra unnecessary & unknown fees.


Thank you for your time and reply,

This post has been edited by beauwlf: Oct 26 2012, 02:46 PM

Thank you for the advise Mr Dario,
So i should be extra careful, i should wait for the cheque to clear first before sign and return the SPA

Good day Dario,

i(vendor) have signed the s&p already last week with 10% depo, and the purchaser lawyer updated me that they have stamped the Sale & Purchase Agreement. They are now asking me to execute Vendors' Undertaking Letter and the Memorandum of Transfer. I should wait for the remaining (90% - loan balance) before doing this ? . Because on that day of signing they also brought few more documents for me to sign such as land title transfer . But i insisted on signing of the s&p only .

Good day Dario,
Thank you for the reply. I was being careful , and didn't know it was standard to sign the other documents also on that same day.

Regards