For Vendor, generally, the main charges will be as follows:-

(1) Legal fees for Sale and Purchase Agreement - if you decide to appoint your own lawyers - highly advisable to do so, otherwise, the SPA will most definitely be one sided in favour of the purchaser.
(2) RPGT - the tax itself (if applicable) and the legal fees for submission of the RPGT forms (will still need to submit forms to LHDN even if no RPGT payable);
(3) If property is still assigned/charged to the bank, you will need to pay for the legal fees and disbursements for the deed of receipt and reassignment/discharge of charge.
(4) If state authority consent is required, you will need to pay the legal fees for the application for consent as well.

There could be other charges, depending on the case at hand.

This post has been edited by jason1986: Jul 3 2015, 07:14 PM

Of course it will be cheaper if you use the same lawyer as that for the purchaser as you will not be charged legal fees for the drafting and negotiations for the SPA. However, you will be unrepresented for the sale and purchase transaction. As I have mentioned previously, your interest might not be safeguarded as the lawyer is acting for the purchaser and not you. The lawyer will be merely assisting you in relation to other matters such as for filing of RPGT, state consent etc. SPA will definitely be one sided.

RPGT is not income tax. RPGT = real property gains tax, i.e. tax on the gains you make from the disposal. Two different things. Seller is entitled elect for a once a lifetime waiver provided that the conditions are met (must not have used this waiver before, property must be residential, property has been occupied, either by the owner or tenant, CF must be issued). Will need to provide copy of CCC (previously known as CF) or telephone/water/electricity bill as proof.

Hope this clarifies.

This post has been edited by jason1986: Jul 3 2015, 07:33 PM

Normally 2% booking fee paid will be held by the agency n balance 8% to be paid to the seller upon signing of the SPA. That 2% paid to the agency = the agents commission lahhh.

No income tax for disposal of property. If u make money from the disposal, it is = gains. Not income. Rental income will be subject to income tax. Gains subject to rpgt.

This post has been edited by jason1986: Jul 4 2015, 09:05 AM

Your statement is based on the assumption that the vendor knows what to look out for. Further there are other matters to take note if the vendor does not appoint their own lawyers. For e.g. the purchasers lawyers can play around with the timing involved and that the vendor's security documents will be held by them instead of released to them only upon certain conditions being met. They will also be holding the stakeholder monies. Not so simple. Hence my advice is still to get your own lawyers. For me, I will just factor all these costs into the selling price.

Depending on area, I can recommend u reliable agents. Lots of crappy bullshitting agents around.

True. Don't get me wrong ya. I am just sharing contacts that I have if you need it. Have used this team of agents before and they were able to get things done for me.

Cheers.

Tavia has graciously answered your question.

Just do up an offer to purchase. I can give you my template if you want.

Those who want the template please PM me your email address. I will have it emailed to you.


This post has been edited by jason1986: Oct 9 2015, 09:42 AM

Yes, there will be legal fees.

If you appoint your own lawyers, you will need to pay for the SPA legal fees.

other fees include the following where applicable:-

(1) filing of CKHT forms;
(2) discharge/Receipt and reassignment;
(3) application for state authority's consent; and
(3) disbursements in relation to the above.

Erm.. what else would you like to know?

Legal fees will be 300 for properties above 45k.

Application fees will be 50 and registration fees for the consent will be 50. This will be borne by the seller and is to be paid to the land office.

The rest will be disbursements. Travelling, printing, photostating etc.

This post has been edited by jason1986: Dec 17 2015, 02:06 PM

Unable to give a proper estimation as it depends on each case.

In respect of a seller, the bigger sum will be the SPA legal fees.

At this moment it is as follows:-

SPA Legal fees is calculated based on the purchase price.

First 150k will be @ 1%;
next 850k will be @ 0.7%
next 2 mil will be @ 0.6%
next 2 mil will be @ 0.5%
next 2.5mil will be @ 0.4%

There will be other fees and charges depending on whether title issued, whether consent required, whether there is an existing loan etc.

If title issued and consent required, legal fees will be 300.

If there is an existing loan, Receipt and Reassignment + Revocation of PA (no title case), fees will be 400. If Discharge (title case), fees will be 300.

Filing of CKHT Forms, fees will be 300 per person.

The rest will be disbursements.

This post has been edited by jason1986: Dec 17 2015, 01:53 PM

No way of finding out unless you ask kepoh neighbours.

Sorry, no way to find out. If you belief in such things, maybe bring a sifu?

Your quoted sum could be inclusive of the other disbursements (traveling, printing etc) which are not fixed. For e.g. firm in KL but Land office in seremban, transport will then be higher. So not to say that you are not correct.

Have amended my statement to make that clear as well.