Hi. Want to clarify things in "solicitor renumeration oder 2006", for the S&P and loan agreement part, stated below
For the first RM150,000 -> 1.0% (subject to a minimum fee of RM300)
For the next RM850,000 -> 0.7%
For the next RM2,000,000 ->0.6%
For the next RM2,000,000 -> 0.5%
For the next RM2,500,000 -> 0.4%
Notwithstanding the above rates, in the case of any transaction governed by the Housing Development (Control and Licensing) Act 1966 [Act 118] or any subsidiary legislation made under that Act, the remuneration of the solicitor having the conduct of and completing the transaction, whether acting for the vendor or the purchaser, shall be-
(a) RM250, if the consideration is RM45,000 or below;
(b) 75% of the applicable scale fee specified, if the consideration is in excess of RM45,000 but notmore than RM100,000;
© 70% of the applicable scale fee specified, if the consideration is in excess of RM100,000 but not more than RM500,000; or
(d) 65% of the applicable scale fee specified, if the consideration is in excess of RM500,000.
if in the case, one buy a house worth 500k from developer which the S&P signed under HDA 1966,
Legal Fee = (500k-150k)*0.7% +1500 = 3950
Then the solicitor must give discount for another 30%, which they should charge at the RM 2765?
The Legal Fees is RM 2765 for S&P and RM 2765 for Loan Agreement?
Thanks.
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Aug 19 2012, 06:05 PM
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