brader ben,

will be too late or not wor. until your paperwork done, most either give up their unit or sign with less favoured banks.

this morning one ocbc girl call me offer me personal loan. i say yeah i want 330k with interest blr-2.4 repayment 30 year. i ask her got or not. she laughed.

i m signing with less favoured bank
brader ben, if u can help, pm me.

Haha...I like tht...tell her if she can offer...I believe here have plenty of customer queuing waiting for her....plenty of commission...

u like footbal..? but.. i saw from other forum, ppl unable sleep well while got world cup those... it's noisy

actually who is the one who decide the legal fee for loan agreement?
what is the procedure?

i ask then banker how much is the legal fee..
he say need to check with your lawyer

when ask the lawyer side, says need to depends on how much is your loan amount..

so what do i do?
are they going to contact each other themselves and come out the price and let me know?

make me so blur..

is it i need to check with the banker of my final loan amount including loan+mrta+legal fee if any(i still dunno how much at this stage)..
then go and tell the lawyer this is the amount of the legal fee.. RMXXXX
then i back to the banker again...!?!?!

sighh.. so tired buying 1st house with all those service like duwan entertain me jiang..

you are not alone my friend.
same here

i checked with my lawyer. i told her my purchase price. my loan amount and she pop come out with quotation for me.

if your lawyer lazy, u tell her/him that u need to prepare money to pay so better give quotation. if not HUTANG. wakkaka

ya..
later ask more duno they will say "u sign u sign.. i got no time " or not..


okok.. i'll call again on monday.. thx

your last sentence really make me laugh.. wakaka
same same laa...

can hutang hutang one meh?
btw, can we sign the Loan Agreement first and then the S&P, or vice versa or the sequence won't matter?

This post has been edited by bonkers28: Jul 6 2012, 03:58 PM

Juz to make it clear, when we sign the SPA, we need to pay the remaining DownPayment rite??
When to pay the legal fees??
Wat if the lawyer did not provide any quotation yet??
Later I sing d they say 20k then I really need to sell underwear jor lo

The lawyer fee should be around the range of 5K-8K , depend on the price of your house.
There a formula for this.

No la...it depends on how much is your loan value..
there is a standard calculation... discount given or not is depend on the lawyer..
but loan agreement fee and stamp duty follows a standard calculation

My lawyer say got gv me discount as she asked my loan amount
She roughly quoted me but there is no quotation yet
Later after I sign she say no discount the white white lo

1st time buyer here

Amount secured or financed (LOAN AMOUNT)
Scale of Fees :
For the first RM150,000: 1.0%
For the next RM850,000: 0.7%

For the principal instrument: Full scale fee

For each subsidiary instrument: 10% of scale fee (subject to a minimum fee of RM200 and a maximum fee of RM1,000)

e.g. loan sum RM350,000
RM100,000 x 1% = RM1,000
RM250,000 x 0.7% = RM1,750
Legal fee for principal instrument = RM2,750 (RM1k + RM1,750)
Q: what is principal instrument?
A: the main loan document (e.g. Facility Agreement)

THEN, Q: what are subsidiary instruments?
A: Deed of Assignment

In this example, the legal fee is:
1) principal instrument RM2,750
2) PLUS subsidiary instrument RM275 (for each subsidiary instrument)
[Q: why RM275? Q: 10% of RM2,750 (min RM200; max RM1000)]
3) other miscellaneous docs

Note: the aboe are only legal fees, NOT including disbursements such as courier, fax/phone calls, postage, etc.

Thanks
Would have a rough figure now

why you mentioned

For the first RM150,000: 1.0%

but you only take RM100,000 x 1% in the example?

try this?? not sure if accurate or not...

http://1-million-dollar-blog.com/calculato...uty-calculator/

Typos, thanks for pointing out.

RM150,000 x 1% = RM1,500
RM200,000 x 0.7% = RM1,400
That's RM2,900 for the principal instrument. (legal fees only, excluding disbursements such as stamp duty, etc)
So, each subsidiary instrument will be RM290.

ic! ok.
thx for sharing.

You may also want to check this thread --> http://forum.lowyat.net/topic/2376731/all
It has a spreadsheet that you key in the value and it does the calculations