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This post has been edited by Kilohertz: Jul 9 2019, 01:03 PM

http://www.elawyer.com.my/legal_calculator_info.php

Thanks! That's exactly what I'm looking for. Some question on the the valuation process? Usually how to engage a banker to perform a property valuation? Do I need to pay a certain fee?

the banks that u are going to apply loan has their own panel valuers.
You appoint the valuers via bank and you need to pay the valuation fees.

How much does it usually cost?

you can google the fees scale, they have a professional charge according to the valuation of the property.
My last report done cost around RM1200 for RM650k valuation.

This post has been edited by cheahcw2003: Jun 29 2015, 05:10 PM

Alright, so it can range in between 800-1000 for a 500k house? I'm just assuming

mine 650k cost me RM1250 for valuation fee

http://loanstreet.com.my/calculator/home-l...cost-calculator

500k

Sale & Purchase Agreement Costs
SPA Legal Fees: 3950
SPA Stamp Duty:9000

Loan Documentation Costs
Loan Documentation Legal Fees: 3600
Loan Documentation Stamp Duty: 2250

U need about RM18~20k

usually u always need to have about + 15% cash of the prop purchase price .(10% deposit, 5% for the thisthat fee) .
The legal fee can be included into loan as well which u need check with the bank.

This post has been edited by frequency: Jun 29 2015, 05:53 PM

Note that the r loan amount is depend on valuation. So best is get the bank to confirm that the property price meets bank valuation before placing earnest deposit!


This post has been edited by corleone74: Jun 29 2015, 06:38 PM

Yes, if wish to finance in the loan try look for CIMB, RHB and those bank that accept to finance the legal fees into the loan.

The above listed cost haven't include disbursement, reimbursement and also gst charges on the legal fees and reimbursement part. But after some less/rebates from lawyer the final amount all included shall be around RM20k plus and minus..

If you need a proper quotation once you confirmed your purchase can just pm me

What is stamp duty??

Tax towards gomen?

So high one

Stamp duty on memorandum of transfer., ya paid to gomen.

This post has been edited by corleone74: Jun 29 2015, 09:34 PM

Exactly .. - + and discount is almost that

May I know when to pay earnest deposit? Realtor told me to pay when making an offer and before starting to bargain so that the owner know I'm sincere in buying. I'm not convinced though. Why should I pay before an agreed price is met?

You can pay first with condition the offer letter is filled with the price you wish to negotiate. So if owner agree then owner will sign the said offer to purchase and the deal is now closed.

How much is the earnest deposit? Is there a standard rate?

Thanks! This is really intuitive.

For RM500K of subsale, commit to buy if you have 20% of the said price (10% for deposit, 10% of legal fees, this and that yada yada fees). Although the fees might not reach 10% of the total price, it will give you a peace of mind.

For subsale, the standard fees is about 2 to 3% of the purchase price. This will be part of the 10% deposit that you need to pay during the signing of the S&P

1. Regarding the booking form, always make sure you have a clause that says "subject to xx% margin of financing loan approval, or the booking fees are returned". Most agents I know tend to keep this a hidden knowledge; but it is essential as there is no way you can guarantee that you can get a housing loan. XX can be any figure, usually people want the maximum 90%. Some rookie mistakes that I know involves forfeiting the deposits by the would-be purchaser due to their inability to get any loans approved.

2. As for the S&P lawyer, make sure you choose on your own and not the seller's lawyer - insist on using your own lawyer since some unscrupulous agent and/or seller would insist on using their own. S&P is an agreement between the seller and the purchaser, you do not want the lawyer to side with the seller when the deal goes south. If you need a recommendation for the S&P as well as Legal Agreement lawyer, let me know. I'll hook you up.

This post has been edited by wild_card_my: Jul 2 2015, 06:37 AM

perhaps u can see, stamping fees...will u get 50% if its ur 1st home

But that is only for transfers of lower than RM500k in value... good info for those not in the know though

500k and below or below 500k

500k and below. That means even if the SPA price is RM500k, you can still get the 50% discount on the stamp duty of the SPA. Thanks for asking, so I could clarify.

Also, this applies to the stamp duty for BOTH the SPA and the LA (legal agreement)

This post has been edited by wild_card_my: Jul 5 2015, 01:30 AM

Unfortunately i csnt enjoy it anymore now...

Do ask for quotation for legal fee for both S&P and loan documentation from different law firm. The stamp duty and valuation fee is fixed. There is calculation for legal fee but usually they will mark up. Even bankruptcy search can be charged double.

I've got all legal fee plus stamp duty&valuation for 10k all in for a property price 440k. If i did not ask for discounts, I will be charge 16k. Find law firm that have good clerk, the clerk that incharge of my loan is very fast and helpful.

Asking all the expert , usually when shall we paid the balance of the loan amount to the SPA lawyer after signing the SPA ? Thanks

You can pass the balance to your lawyer when signing SnP, or lawyer will inform you when you shall pay.
For freehold most likely when your loan almost disburse, the valuers will contact you first, at that time you also need to pay for the valuation fees.
Mine is almost 2 months and the lawyer ask to pay

removed.

This post has been edited by PenangLaksa: Sep 10 2015, 02:15 PM

Hi please can you PM me their contact? Thanks a lot.

Hi I am going to place a booking for a property soon, please pm me the lawyers contacts. Thanks.