Hi,

I received a letter "memorandum of transfer" which mentioned the Strata title being issued and a lawyer being appointed.

May i ask:-

1) How much it could cost normally?
2) Can i use different lawyer?
3)if u choose to ignore this, how ar? What is the benefit to do this Strata title transfer?

Since i mention this is Strata title, you know that this is condo

It depends on your property's price:
First RM 100,000.00 = 1%
Next RM 100,000.01 - RM 500,000.00 = 2%
Next RM 500,000.01 - RM 2,0100,000.00 = 3%
Above RM 2,000,000.00 = 4%

means if your property is 500k, you need to pay RM9000 for the stamp duty. (100000x0.01 + 400000x0.02)
lawyer fees depends on which lawyer you choose.
i assume you bought this property under loan. you have to do title transfer and your grant will be kept by the bank else bank won't release final payment to developer and developer can charge you interest.

Fee is not cheap...

But i bought this condo 2 years back already and yes, is under loan.

Final payment should be not in the picture already, i think...

You cannot choose to ignore this.
The MOT is required in order to change the title of the unit from Master Title (i.e. belonging to the developer) into the Strata Title (i.e. belonging to you).
Although the bank will be holding the grant until you finish paying off the home loan.
I surprised that your lawyer did not explain this to you when you bought the condo, because this is quite a significant sum of money to be paid.

You'll get 50% discount if that is your first house right?

Erm, may be i should go to my previous lawyer...

my banker tell me stamp duty is rm10 only?
then the rest is the lawyer fees (3-4k)

Cost me about RM 1500 in total using the same lawyer as for my S&P.
I also redeemed a property recently and cost me RM550 from the same lawyer.

how much is your property price? y so cheap one?

S&P is 200 plus, now 400 plus.
Note that I paid the stamp duty to my lawyer when I signed the S&P so,when strata title was issued I don't have to pay again.

Oh, good news for me. i will try to ask my lawyer back then....

I just checked - there are 2 bills I paid after strata title is issued.
One is for perfecting of charge.
The other for perfecting memorandum of transfer which involves my financier.
Hope this helps.

There is a penalty is you do not do it on time - cant remember how long you are given.
And when you want to sell the house, it will be messy.

I just bought a strata title property where the owner did not do the transfer. The owner also tried to save money by requesting me to do a direct transfer. It took me 2 months to get the developer to agree to a direct transfer and this is after a lot of threats from me to abandon the purchase. I had a clause inserted by my lawyer in the S&P to state that the owner must get the developer to get the direct transfer out within 1 month otherwise I may abandon the sale without penalty.
Of course I did not exercise the right as I like the house and I got a good price.

Today still no keys, I am losing interest for 40% of the purchase price - 10% paid upon signing of S&P, 30% paid in March. My bank released another 55% early April for vendor to redeem the loan and I just got charged interest by my bank for the redemption amount released.

Frustrating.

This mean you paid RM3k something for the transfer? This consider acceptable when there is 75& discount? what is the 75% from Scale?



indeed Frustrating.

something wrong with my monitor

BTW, u should ask the lawyer about the timeline for the whole execution to be perfect.