Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

> Strata Title Transfer fees in Malaysia Investment

views
     
TSSaeidM
post Jul 20 2012, 05:43 AM, updated 12y ago

New Member
*
Newbie
3 posts

Joined: Jul 2012


Hi. We bought a property in Port Dickson, Malaysia, a few years ago and just had a letter from the developer, stating that the Title for our property has been issued by the authorities and we have 12 months to execute the Strata Title transfer. The purchase price was 590,000RM.

Some of the charges for the transfer are as follows(I'll just mention the big ones here):

Memorandum of Transfer 4580 RM
Stamp Duty on Memorandum of Transfer 11700 RM
Filing Fees on Memorandum of Transfer 5900 RM
Etc, etc

In total the charges are 23,894 RM.

This seems utterly excessive. Can I do the leg work on some of these , or hire a person to do it for me and save on these fees?

Your advise would be highly appreciated.

Saeid

This post has been edited by SaeidM: Jul 20 2012, 05:45 AM
earl-ku
post Jul 20 2012, 05:45 AM

Chlorophiliac
*******
Senior Member
4,583 posts

Joined: Jan 2003
From: Golden Meadow
i think there are some runner fees which are not mentioned here ...

all the fees above are not discountable ... especially the stamp duty ... thats based on property price

memo of transfer and filing fees, might be discountable if you have your own lawyers ... i think la
TSSaeidM
post Jul 20 2012, 05:57 AM

New Member
*
Newbie
3 posts

Joined: Jul 2012


QUOTE(earl-ku @ Jul 20 2012, 05:45 AM)
i think there are some runner fees which are not mentioned here ...

all the fees above are not discountable ... especially the stamp duty ... thats based on property price

memo of transfer and filing fees, might be discountable if you have your own lawyers ... i think la
*
Thanks for your quick reply. The 5900 RM which is 1% of the purchase price matches what I've seen on web sites were they detail the fees for Title Transfer. But the rest, I have not been able to find any thing related to those fees on other web sites yet.
MaxWealth
post Jul 20 2012, 08:09 PM

Casual
***
Junior Member
421 posts

Joined: Jul 2010
From: ~Klang Valley~



you can refer here.

http://1-million-dollar-blog.com/how-to-ca...ing-a-property/

So far, i see the legal fees for MOT and MOT are quoted accordingly.
kate*
post Jul 20 2012, 09:35 PM

New Member
*
Junior Member
25 posts

Joined: Aug 2011
hi, i new in this property thing, i'm in process of buying a condo which is still under master title. i need to pay stamp duty for deed of assignment now? & another stamp duty when the strata title is release? please correct me. thanks.
tiongkeat
post Jul 20 2012, 10:25 PM

Enthusiast
*****
Senior Member
758 posts

Joined: Dec 2008
From: Sungai Buloh, Selangor


where got so expensive lol..
sure?
jucl
post Jul 21 2012, 12:58 AM

Regular
******
Senior Member
1,375 posts

Joined: Nov 2011


The fees are based on the current market price or snp price? Etc I bought this property back in 2007 at rm 250k but today this property is worth 500k market price. Will the fees calculated based on 250k?
mango27
post Feb 22 2014, 02:29 AM

Enthusiast
*****
Senior Member
960 posts

Joined: Apr 2006


QUOTE(jucl @ Jul 21 2012, 12:58 AM)
The fees are based on the current market price or snp price?  Etc I bought this property back in 2007 at rm 250k but today this property is worth 500k market price. Will the fees calculated based on 250k?
*
anyone has answer for this?
Gary
post Feb 22 2014, 07:04 AM

Getting Started
**
Junior Member
267 posts

Joined: Nov 2004
From: Rock Caves
Based on SnP price.
darren_prop1
post Feb 22 2014, 10:40 AM

New Member
*
Junior Member
8 posts

Joined: Feb 2014
yeah...is based on S&P price
yh76
post Jun 24 2014, 08:24 PM

New Member
*
Junior Member
6 posts

Joined: May 2014
QUOTE(darren_prop1 @ Feb 22 2014, 10:40 AM)
yeah...is based on S&P price
*
Let me know (MOT)

When pay same time S&P OR wait until Vacant Possession then pay MOT

Thanks


abcdef
post Aug 21 2014, 09:20 AM

New Member
*
Junior Member
17 posts

Joined: Nov 2005
Anybody knows whether we can withdraw from EPF to pay this strata title transfer fee ?
corleone74
post Aug 21 2014, 10:07 AM

Look at all my stars!!
*******
Senior Member
3,665 posts

Joined: Aug 2014
QUOTE(SaeidM @ Jul 20 2012, 05:43 AM)
Hi. We bought a property in Port Dickson, Malaysia, a few years ago and just had a letter from the developer, stating that the Title for our property has been issued by the authorities and we have 12 months to execute the Strata Title transfer. The purchase price was 590,000RM.

Some of the charges for the transfer are as follows(I'll just mention the big ones here):

Memorandum of Transfer 4580 RM
Stamp Duty on Memorandum of Transfer 11700 RM
Filing Fees on Memorandum of Transfer 5900 RM
Etc, etc

In total the charges are 23,894 RM.

This seems utterly excessive. Can I do the leg work on some of these , or hire a person to do it for me and save on these fees?

Your advise would be highly appreciated.

Saeid
*
Hi,
Other than the stamp duty on MOT, (11700) the other two seem excessive!
Did you buy the property direct from the developer? Or is it a subsale?


This post has been edited by corleone74: Aug 21 2014, 10:10 AM
jason_chee
post Aug 21 2014, 10:09 AM

Regular
******
Senior Member
1,558 posts

Joined: Oct 2004


QUOTE(abcdef @ Aug 21 2014, 09:20 AM)
Anybody knows whether we can withdraw from EPF to pay this strata title transfer fee ?
*
I'm not too sure on that. But what u can do is... you can withdraw EPF to cover Loan Instalment. then u save up Loan Instalment and pay for the Transfer Fees. You may check with EPF on full details.
hhho
post Aug 21 2014, 10:24 AM

On my way
****
Senior Member
583 posts

Joined: Apr 2014
QUOTE(abcdef @ Aug 21 2014, 09:20 AM)
Anybody knows whether we can withdraw from EPF to pay this strata title transfer fee ?
*
How much your strata title transfer fee?
If RM23k again, it is a lot of money!
abcdef
post Aug 22 2014, 04:32 PM

New Member
*
Junior Member
17 posts

Joined: Nov 2005
QUOTE(hhho @ Aug 21 2014, 10:24 AM)
How much your strata title transfer fee?
If RM23k again, it is a lot of money!
*
About RM10K . Not as much as RM23 , but still a cut to the heart . =(
abcdef
post Aug 23 2014, 12:46 AM

New Member
*
Junior Member
17 posts

Joined: Nov 2005
QUOTE(jason_chee @ Aug 21 2014, 10:09 AM)
I'm not too sure on that. But what u can do is... you can withdraw EPF to cover Loan Instalment. then u save up Loan Instalment and pay for the Transfer Fees. You may check with EPF on full details.
*
Bank will deduct one shot? Or deduct monthly ?Let say my home financing monthly installment is RM 1000. I withdraw RM 5000 from EPF and throw into my home financing account . The bank will deduct RM5000 in one shot or RM1000 monthly ?
jason_chee
post Aug 25 2014, 09:51 AM

Regular
******
Senior Member
1,558 posts

Joined: Oct 2004


QUOTE(abcdef @ Aug 23 2014, 12:46 AM)
Bank will deduct one shot? Or deduct monthly ?Let say my home financing monthly installment is RM 1000. I withdraw RM 5000 from EPF and throw into my home financing account . The bank will deduct RM5000 in one shot or RM1000 monthly ?
*
i'm not sure on this. I never did that. But 1 of the staffs of my clients did that. For more info, i think you may check EPF website. they stated that as well.
abcdef
post Aug 25 2014, 05:16 PM

New Member
*
Junior Member
17 posts

Joined: Nov 2005
QUOTE(jason_chee @ Aug 25 2014, 09:51 AM)
i'm not sure on this. I never did that. But 1 of the staffs of my clients did that. For more info, i think you may check EPF website. they stated that as well.
*
OK ! TQ !

 

Change to:
| Lo-Fi Version
0.0178sec    0.25    5 queries    GZIP Disabled
Time is now: 29th March 2024 - 09:44 AM