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> Strata Title Transfer fees in Malaysia (Investment)

SaeidM
post Jul 20 2012, 05:43 AM, updated 3 years ago


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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
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earl-ku
post Jul 20 2012, 05:45 AM


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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
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SaeidM
post Jul 20 2012, 05:57 AM


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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
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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.
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MaxWealth
post Jul 20 2012, 08:09 PM


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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.
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kate*
post Jul 20 2012, 09:35 PM


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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.
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tiongkeat
post Jul 20 2012, 10:25 PM


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


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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?
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mango27
post Feb 22 2014, 02:29 AM


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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?
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anyone has answer for this?
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Gary
post Feb 22 2014, 07:04 AM


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Based on SnP price.
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darren_prop1
post Feb 22 2014, 10:40 AM


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


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

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

Thanks


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abcdef
post Aug 21 2014, 09:20 AM


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


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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
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jason_chee
post Aug 21 2014, 10:09 AM


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QUOTE(abcdef @ Aug 21 2014, 09:20 AM)
Anybody knows whether we can withdraw from EPF to pay this strata title transfer fee ?
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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.
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hhho
post Aug 21 2014, 10:24 AM


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


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


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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.
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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 ?
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jason_chee
post Aug 25 2014, 09:51 AM


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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 ?
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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.
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abcdef
post Aug 25 2014, 05:16 PM


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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.
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OK ! TQ !
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