Hi all,

I'm buying a house (first purchase), received quotation from a lawyer. There are some items that i got no idea of and not to mention if it is reasonable charges, any expert can help to check if below quotation is reasonable? Thanks so much!
Also wonder is there any item that I can request to waive it?


Loan agreement
Professional fee
Charge Annexure / Deed of Assignment (min RM200.00) 440.6
3 Power of Attorney (min. RM200.00) 440.6
6 Developer Confirmation 300
10 Statutory Declaration 200
Total 1381.2

Disbursement

Affirmation of Statutory Declaration 20
2 Land Search 120
3 OA Search 60
4 SSM Search 60
5 Registration Fee for Power of Attorney 50
10 CTC Title / Official Search 50
11 Developer's Confirmation Fee 53
12 Purchase of Loan Documents 318
13 Fax/Telephone Charges 100
14 Printing/Photocopying Charges 150
15 Transport/Courier/Postage Charges 280
16 Miscellaneous 50
Total 1311


S&P
Professional fee
Deed of Assignment/Memorandum of Transfer 300
3 Deed of Mutual Covenants 300
4 Developer Confirmation Fees 200
6 CKHT 2A (RM200/person) 200
Total 1000

Disbursement
Affirmation of Statutory Declaration 20
2 Land Search 120
3 OA Search 60
4 SSM Search 60
11 Administration Fee for Developer 53
12 Fax/Telephone Charges 106
13 Printing/Photocopying Charges 159
14 Transport/Courier/Postage Charges 300
15 Miscellaneous 50
Total 928

just ask for 30%-40% rebate on the legal fees...misc charges is just misc to show

does legal fees included all those 'professional fee'?
Professional fee
Charge Annexure / Deed of Assignment (min RM200.00) 440.6
3 Power of Attorney (min. RM200.00) 440.6
6 Developer Confirmation 300
10 Statutory Declaration 200

About 4K only?
How about loan agreement fees?

Ur property about 200K?

Updated the full quotation here.
Wonder if lawyer say give 30% lawyer fees, is it on the total professional fee (30% on 6134)or the 30% only particular on the agreement(30% on 4406.4 only)?
Question for GST as well, for this quotation, the GST charged on professional fees. However I've received another quotation that professional fee and disbursement fees both charge GST. Which item can avoid GST??

Loan agreement
Professional fee
loan agreement 4406.4
Charge Annexure / Deed of Assignment (min RM200.00) 440.6
3 Power of Attorney (min. RM200.00) 440.6
6 Developer Confirmation 300
10 Statutory Declaration 200
Total 6,134

Stamp duty
principal facilities agreement 2830
facilities agreement 30
charge annexure/deed of assignment 40
power of attorney 40
statutory declaration 20
letter of offer 10
Total 2970

Disbursement
Affirmation of Statutory Declaration 20
2 Land Search 120
3 OA Search 60
4 SSM Search 60
5 Registration Fee for Power of Attorney 50
10 CTC Title / Official Search 50
11 Developer's Confirmation Fee 53
12 Purchase of Loan Documents 318
13 Fax/Telephone Charges 100
14 Printing/Photocopying Charges 150
15 Transport/Courier/Postage Charges 280
16 Miscellaneous 50
Total 1311


S&P
Professional fee
S&P agreement 4846
Deed of Assignment/Memorandum of Transfer 300
3 Deed of Mutual Covenants 300
4 Developer Confirmation Fees 200
6 CKHT 2A (RM200/person) 400
Total 6196.76

Stamp Duty
Meorandom of transfer/deed of assignment 12840
S&P agreement 40
deed of assignment 30
deed of mutual onvenants 40
total 12950

Disbursement
Affirmation of Statutory Declaration 20
2 Land Search 120
3 OA Search 60
4 SSM Search 60
11 Administration Fee for Developer 53
12 Fax/Telephone Charges 106
13 Printing/Photocopying Charges 159
14 Transport/Courier/Postage Charges 300
15 Miscellaneous 50
Total 928

This post has been edited by Sblad3: Jul 21 2015, 09:13 PM

Hi,

All the items that dropped under professional fees will subject to gst. Also those drop under reimbursement such as (printing, transport, courier, fax, telephone charges, micellaneous...). And yes, normally legal firm provide rebates on the principal legal fees only. Which the amount u quoted is the right one. As they need to follow up your entire case for around 3 months time. So, i trust what they earn is reasonable for their professional advise and assistance they provided to you in the entire 3 months.

Can ask for rebates but always remember that a reasonable rebates will do as long as the firm can promise you to disburse your loan within the timeframe without paying any late penalties. Or else the late penalties ended up will cost more than your discount. Happy shopping and congrats for yr new house!

Based on the quotation TS provided, the property shall be less or more around rm620k.

TS updated with new price mah

After some heavy negotiations this is the bill tally.

Note:
- direct purchase from developer.
- 2 borrowers
- 1 person for SPA

(a) SPA
- SPA legal fees absorbed by developer.
(b) Disbursements
- stamp duty
> x4 SPA = RM 40
> x4 DMC = RM 40

© Others
> Telephone, Fax, Postage = RM 150
> Printing and/ or photocopy = RM 50
> Travelling to Land Office/Registry/Stamp Office and Others = RM 200
> MISC = RM 50

(i) Banking Facility
- Loan Document legal fees absorbed by developer
(ii) Disbursements
-Search Fees
> Land title search on Master Title = RM 60
> x2 Bankruptcy Search on x2 Borrower = RM 30
> x1 Winding-up search on Developer = RM 15
> x1 CCM search on the Developer = RM 15
(iii) Stamp Duty
> x1 Facility Agreement + 2 additional copies = RM (ad volarem) + RM 20
> x4 Deed Of Assignment = RM 40
> x4 Power of Attorney = RM 40
> x1 LO = RM 10
> x2 Statutory Declaration = RM 20
(iv) Registration Fees
> x1 PA = RM 50

Others
> affirmation fee on statutory declaration (2x signatures) = RM 20
> Documentation Fee = RM 265
> Printing = RM 100
> Telephone Fax and Postage etc… = RM 100

Reasonable price. Not expensive at all.

thanks.

got later use the published prices of what i have paid, I want to trace backwards why it was negotiated like that (cause someone else did on my behalf, i goyang kaki only hahaha...). now i suffer, anyway this type of question is like 99% FAQ, best to know.

@Sblad3

is it a sub-sale or direct from developer btw?

I wonder if i pay all $ in lump sum by cash/bankdraft, will able to get better price?

@Tavia898
is the rebate you talking about is same as discount on legal fees? else what kind of rebate that i can ask for?

@aurora97
it is sub-sale, you got quite cheap quotation for those bills compare to mine

has title been issued for your condominium?

strata title? not yet, the condo was completed in end of 2013.

This post has been edited by Sblad3: Jul 22 2015, 01:08 PM

Hi yes the rebate i mention is the one same as discount on legal fees.

Now the bank said the loan agreement must use their panel lawyer, and only give me 1 lawyer.
And the banker only giving me 1 choice...would like to ask, is there any rules/terms force us borrower must take their panel? what action i can take ?

I am also looking for a good lawyer with affordable fees. I am buying a real estate property and don't have knowledge of all the legal procedures involved. I am looking for some useful reference. It will be great if anyone can suggest something.

Nowdays panel and ad hoc lawyer doesn't make any differences therefore I would suggest you just go to any office you like to get it done.

I haven't heard such rules yet so far.

Good Luck

Haha... Sure that banker got alot of referral from the firm lols... If the lawyer u choosing is also the full panel of the bank, no issue at all. If the banker insist you cant use your own panel, just go to his manager or just cancel off the loan and get from other bank.

This post has been edited by Tavia88: Jul 31 2015, 10:33 PM

What about the fees for full settlement of loan for
(1) Discharge of Charge
(2) Deed of Receipt and Reassignment

Any to advise?

Loan amt taken was RM 159,000.

I will be signing my SPA and loan agreement and lawyer already billed me. Since my property title will only be transferred to me after few months so I'm wondering if I should pay him full or only partial to prevent him from not following up my case?

The bank has no right to force you to take up on their own panel legal firm. You insist on using your own lawyer. Just ask your lawyer to prepare authorisation letter for you. The borrower can use their own lawyer.

You can pay him full disbursement and half of the legal fees

Don't listen to this guy "airtawarian". Pay All

Why?

It will hinder the process of whole transaction including you and your lawyer.

A peace in mind worth more than the hustle or negetive.