TH only gave Free Legal Fees on SPA in addition to the 3% + 2% rebate

Loan Legal Fees - borne by Buyer / Borrower together with Stamp Duty @ 0.50%

Loan Legal Fees - based on SRO with the standard allowed discounts for buying from Developer under HDA


MOT - also borne by Buyer

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

Lawyer did not issue my Invoice for MOT, just a Letter. The Lawyer earlier said that they will only charge RM500 for Expenses and my workings confirmed that it was only MOT (based on 1% for first RM100K, + 2% for next RM400K + 3% exceeding RM500K) + RM500 for my MOT.

I checked my Loan Agreement Legal Fees and for Form 16A, which is equivalent to the Memorandum of Charge, it was only RM365 only.

Hence, I am also confused how much one should pay.

I find it MORALLY wrong if the same Lawyer who is doing the SPA and Loan Agreement wanna charge RM3K++ in Legal Fees just for the MOT.

All the work done is actually complimentary only and just like merely some minor additional work but charging an arm and an leg

Perhaps the Lawyer for TH really charged less but I was told it was standard practice to charge only RM500++ for MOT

But if buyer was given free Loan Fees, then maybe its justified to pay this fees else, I consider its as double payment

Cos when doing Loan Agreement - you need to do the Charge, Discharge etc

The Loan Agreement is a standard template that the Lawyer buys from the Bank.

This post has been edited by cfa28: Feb 9 2015, 03:53 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

Sorry Bro, no 14A in my Loan Invoice.

Means TH Lawyer is offering good deal

how much did u pay for loan legal?

TH loyars more buyer friendly

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?

RM365 only

Based on SRO with 35% discount for buying under HDA

This post has been edited by cfa28: Feb 9 2015, 04:08 PM

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

anybody know what is the dateline for paying the MOT?

lawyer will advise. but most of the time they collect early from u and park in their own account earn interest.

It seems we already have real transaction on tiara east prop..
Intermediate - RM 615k
End lot - RM 740k

http://www.brickz.my/transactions/resident...emenyih/landed/

Congratulations, good concept landed property show demand in subsale market and can break 600k above Eventhough at so call far location semenyih....

Let's wait lekas link to complete and setia ecohill and eco majestic to boost up the subsale value at semenyih...

what is cost of maintenance fee for tiara east?

Hi anybody interested to sell

I've seen the selling price never grow after vped.

after almost 3years VP...the selling price never grow...
some selling below the original price