Oic.. does TH absorb any MOT legal fees? Mind to share the invoice for the MOT legal fees?

Based on my understanding according to SRO:

1.) SPA legal fees (based on SPA price):

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%
Where the consideration or adjudicated value is in excess of RM 7,500,000 Negotiable on the excess
(but shall not exceed 0.4% of such excess)

---> TH pay for SPA legal fees, so no issue, but if buyer need to pay, for a 770k property, should be around 6k plus

2.) Loan legal fees (based on loan amount)

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%
Where the consideration or adjudicated value is in excess of RM 7,500,000 Negotiable on the excess
(but shall not exceed 0.4% of such excess)

----> Buyer pay, for a 700k loan, should be around 5k plus.

3.) MOT legal fees (based on legal fees of SPA and loan)

If choosing the lawyer who handling the SPA /Loan agreement, rate is 25%, or else 50%. Let's assume the former.

Memorandum of transfer (MOT) - 25% of SPA legal fee: 0.25 x 6k ~ 1.5k
Memorandum of charge (MOC) - 25% of loan legal fee: 0.25 x 5k ~ 1.25k

So total is RM 2.7k.

----> This is the confusion part, by right should be paying RM 2.7k for the MOT legal fees, how come you only pay RM 500 instead. That's why I am wondering if you can share your legal fees for MOT invoice...

I only put calculation of legal fees in this calculation and exclude all the stamp duty, registration/search fees and also misc fees (printing / transporation etc) for simplification...

This post has been edited by samkps: Feb 9 2015, 03:31 PM

Form 16A is for MOC, how about your Form 14A (MOT)?

Your lawyer didn't provide an invoice for MOT, most likely he is not following the SRO...

By referring to the SRO, sixth schedule, item 2 in this document, I think what's has been mentioned by TKJ is valid.. Your lawyer is not charging according to SRO, though it is good for the purchaser (instead pay 2.7k but pay 500 instead), but is "immoral" in the legal profession...

http://www.hba.org.my/faq/solicitor/Solici...onOrder2006.pdf

Nevertheless, charging less is not means breaking the rule, coz the term mention that "NOT EXCEEDING 25%", 5% is considered not exceeding 25% too... RM 200 is the minimum..

But if charging 25%, it is following the SRO, nothing wrong as well..

This post has been edited by samkps: Feb 9 2015, 03:59 PM

Only in small firm I believe..

But in big firm like TKJ one, sure 25%...

Now make sense.. How about form 16A instead? Any legal fees incurred?

So 14A is RM 500 and 16A is RM 365? Indeed a friendly "deal"...