Goodday Dario,

I am trying to read up so I will not repeat questions and I realised this is v2 and a v1 has 128pages
Ill read them up slowly, but I would appreciate if you can give some insights here.

When a project gives a promotion as below;
- SPA legal fee & disbursement fee absorbed by developer (subject to developer’s appointed lawyers)
- Loan document legal fee & disbursement fee absorbed by developer (subject to developer’s appointed lawyers)

What are the parts which are missing. This is a leasehold service-apartment going at 360xxx.

I am thinking we will have to pay for
- strata title/MOT later

I was told the buyer will have to pay for loan agreement stamp duty for 17xx.

Anything else we should be aware of?.

thanks

This post has been edited by xbotzz: Jul 23 2012, 10:55 AM

Hi Dario,

I have been following this thread quite often and reading all the useful facts. Today I have a question and hope you can help me out on advice.

I have a joint house with my spouse. House title as well as bank loan.

My intention is to remove my name from the title in order to;
- claim EPF acct 2 for my next house (first house claimed EPF acct 2 already)
- be eligible to undertake a third prop. By transferring my name, the third prop will be a second without the 30% deposit.

Our joint house market value is estimated about 550k.

This is the quote from the lawyer for transfer only;

Memorandum of Transfer RM 2,375.00

CKHT 1A RM 300.00
CKHT 2A RM 200.00

RM 2,875.00

DlSBURSEMENTS­charge payable to respective
government bodies


6% Government Tax RM 172.50
Stamp duty on the Memorandum of Transfer RM 10.00

(Estimate)
Registration fee on Memorandum of Transfer RM 500.00
Land Search RM 90.00
Printing charges RM 50.00
Travelling charges RM 250.00
Miscellaneous RM 50.00

RM1,122.50

TOTAL RM3,997.50

Need you advice on the pricing. Is this a fair value.
Also, by doing this, can I achieve my intentions.

Regards

This post has been edited by xbotzz: Sep 27 2012, 02:34 PM

Thanks Dario for looking into this.

By you just advising on the disbursement fees only, I am concluding the MOT and tax part is standard fee pricing. I just called them and asked for a discount.

In this case, my end result with me will be the Stamped Ownership of Transfer Form KTN 14A in the name of the new owner.

I can use this as a proof to KWSP and for future purchases of new props. Am I right ?.

Thanks again for providing some "community service". You are helping lots of needy headless chicken here (like me!)

My bad, I meant you only commented the disbursement fee was pricey. The legal fee has no fixed maximum except for a minimum, I caught that, thanks.

I noticed the other forummer gets quoted for DOA im getting MOT, I believe it has something to do with the title being ready or not. Correct ?
I did not see the other forummer getting quoted for CKHT as well, any clue why the difference?

Hi Dario,

My initial quote


Your reply



I went and looked for another quote. They are providing the exact same amount for legal fees. I am wondering if this is an "unofficial" benchmarked fee.

- The transport charges are slightly cheaper
- There is another note below, to redeem from the previous bank, ill need to pay RM600. Any idea what is this ?
- First quote has CKHT 1A and 2A, second quote does not have this CKHT 2A. I believe you have mentioned that CKHT is needed for both parties.

I also tried to look for a third lawyer from my friend's recommendation and he recommended the same firm as the second quote. I am starting to feel I am too choosy and fussy. If it is not too much to ask, what would be a reasonable value for legal fees for this kind of transaction. If it is slightly higher then the norm, i would not mind, as long I do not get really chopped.

Thanks Dario, this is a refinance from Bank A to Bank B as well. I am taking the oppurtunity to dispose my name in this process. I have already asked Bank B if it is possible to dispose my name from the title but the loan still be serviced under my name solely, they are ok with it.

In the refinance portion, the Legal fees & Stamp Duty is already included in the loan but I will need to fork out for the disposal part.

If a refinance is taking place, then is it normal for a lawyer to charge for redemption ? I think he should add this redemption into the refinancing quote then.