Hi guys

Any info on what are the cost involve when we want to sell a property?

Many threads are discussing on cost when purchase property but no threads discussing on cost when selling off property

So far I know is only RPGT and lawyer fee. Any else?

Update as 24th July 2015:

1. Agent Commission
Normally agent charge is 2%, 2.5% or 3%
Mine was charged 3% but i managed to nego and further reduce to 2%
Note: if u can sell without agent, u no need to pay for the agent commission.

2. Legal Fees
As follows:


But since my agent is using the same lawyer for buyer and seller, the terms & condition & paperwork is repetitive.
they can do simultaneously, so legal fees are paid by the buyer.
Seller only pay the remaining portion of it. in my case, i just need to topup RM1,000 + 6% GST.
Note: actual cost will be update once i received the final quotation from lawyer.

3. Consent Fees
lawyer will charge u a consent fees if there is need to apply/transfer for consent from land office.
this cost will be added to the legal fees. luckily my property dont require consent

4. Real Property Gain Taxes
First 3 years - charged for 30% of net gain
within 4 years - charged for 20% of net gain
within 5 years - charged for 15% of net gain
more than 6 years - no RPGT
Each individual can have one RPGT exemption per lifetime.
anyone know how to apply for this? or will it be automatically waive during the selling process?

5. Property Insurance
Remember to cancel or transfer the insurance under your property, especially if its under MLTA.
Wait until the deed has transferred and you are legally no longer bound to the house before cancelling it.
Cost impact: still searching. Anyone has experience on this? what if we forgot to cancel the insurance?

This post has been edited by suadrif: Aug 20 2015, 09:28 AM

Which one is costing more? Used the same lawyer or me appoint my own lawyer?
And for LHDN, let say I apply for RPGT exemption, do I still need to pay income tax? I really hates when my income got slashed for 25% for nothing

Manage to nego from 3% to 2%

I see
Understood little bit more now
But one thing is, after sold the property, I won't be charge for income tax?

Another thing is, my agent mentioned that deposit 2% will be hold by agency and 8% is direct to owner. Is that mean I will be charged 2% for agency fee and then later another 2% for agent commission? Isn't that too much?

ok thats confirming something
at least i know that agent is bullshitting me for the other 2%

Reliable agent is one thing
Marketable agent is another thing

Many agent come to me for selling the house but not all can bring buyer.

Its ok I completely understood your point
Thanks for willing to share
Since u r also in selangor area, might need it in future

In the meantime I need to resolve the issue with this extra 2% with this agent

+1
jason1986 i also want to know for above statement
what if the transaction unsuccessful? do we need to pay 2%?

for future update, i already found information that i think is useful.
crucial information already updated in the first post.

Few things to keep in mind when selling a property:

1. Agent Commission
Normally agent charge is 2%, 2.5% or 3%
Mine was charged 3% but i managed to nego and further reduce to 2%
Note: if u can sell without agent, u no need to pay for the agent commission.

2. Legal Fees
As follows:


But since my agent is using the same lawyer for buyer and seller, the terms & condition & paperwork is repetitive.
they can do simultaneously, so legal fees are paid by the buyer.
Seller only pay the remaining portion of it. in my case, i just need to topup RM1,000 + 6% GST.
Note: actual cost will be update once i received the final quotation from lawyer.

3. Consent Fees
lawyer will charge u a consent fees if there is need to apply/transfer for consent from land office.
this cost will be added to the legal fees. luckily my property dont require consent

4. Real Property Gain Taxes
First 3 years - charged for 30% of net gain
within 4 years - charged for 20% of net gain
within 5 years - charged for 15% of net gain
more than 6 years - no RPGT
Each individual can have one RPGT exemption per lifetime.
anyone know how to apply for this? or will it be automatically waive during the selling process?

5. Property Insurance
Remember to cancel or transfer the insurance under your property, especially if its under MLTA.
Wait until the deed has transferred and you are legally no longer bound to the house before cancelling it.
Cost impact: still searching. Anyone has experience on this? what if we forgot to cancel the insurance?

This post has been edited by suadrif: Jul 26 2015, 07:57 PM

your condo is for own stay or rental?
if rental, you can get the profit back on monthly basis if your monthly payment is lower than your monthly income

check on few online sites such as Mudah.my, Star Property, Property Guru, or iProperty.
maybe there are some other else that i don't know

bear in mind that the price u see is not the market price.
Most of seller jack up their price about 30% higher than market value.
try to have a look what is the minimum selling price and maximum selling price.
and then u decide to sell your property within that range or above that range.

if its for own stay, then u may expect at least 50% of your purchase price
to be exact:

Selling Price > Purchase Price + S&P Lawyer Fee + Maintenance Fee + Monthly Commitment + Renovation Cost

price valuation = market value

i dont understand with your question. could u detail it little bit?

price valuation = market value

i dont understand with your question. could u detail it little bit?

price valuation = market value

i dont understand with your question. could u detail it little bit?

1. Real estate negotiators are not real estate agents

Most Malaysians assume both are the same, as they both seem to be doing the same job. In reality, they are both different professions.

Real estate agents must possess a certain level of experience, knowledge and education before being granted a license by the Board of Valuers, Appraisers and Estate Agents. A real estate negotiator on the other hand, is not required to.

To maintain their estate agent license, all licensed real estate agent must take additional continuing education courses yearly above and beyond that which is already required.

Usually a real estate agent will have a few negotiators to help service their clients, but it is always best to ensure that you deal with an agent.

Source: iMoney.my

thanks for the correction and accurate info
will update it for people references in the future

1. bank valuation price is depending on valuer price.

2. Valuer price is different subject to the valuer interpretation of the asset but normally it does not differ too much. in my case, two different valuers give price different only about RM10k for a 300k property.

3. valuer normally use previous sold price as their benchmark.

4. price found in mudah, iproperty is a selling price which often owner mark up for getting extra profit.

yes. something similar to that

in my previous transaction, we just had 1 piece of A4 paper and put both signatures there as a proof of booking fee
seller take the booking fee
bring receipt to lawyer
sign SNP
seller collect remaining 10%
lawyer settles everything
seller collect remaining balance