Buying a property worth RM495,000 with 90% loan, Please help:need advice on legal charges
|
|
 Aug 13 2015, 06:54 PM
Return to original view | Post
#1
|
 
Senior Member
3,665 posts Joined: Aug 2014 
|
QUOTE(^4ever_Fan+a5y^ @ Aug 6 2015, 08:38 AM) stamp duty on MOT no they are not lastamp duty on SPA These 2 are different things? I always thought SPA stamp duty = MOT..  SD must be paid for every time they stamp the document. MOT is for transfer at land office SPA need stamping oso not same |
|
|
Aug 13 2015, 06:57 PM
Return to original view | Post
#2
|
|
Senior Member
3,665 posts Joined: Aug 2014
|
QUOTE(Salience @ Aug 2 2015, 03:26 PM) Dear all, 1. correct. cost seem ok. ask for discount on legal services for prep of spa. one mistake u wrote "I need to prepare". u only need to prepare questions for your lawyer and $$.. solicitor does the rest. make them work for your money, babyAm purchasing a property at RM495,000. Taking a 90% loan which means housing loan amount is RM445,000 I am a first time buyer. If I am not wrong, there are 2 sides to pay the lawyer for this. 1. I need to pay for legal services between MYSELF and the VENDOR This means I need to prepare: SPA agreement CKHT 2A reimbursements stamp duty on MOT stamp duty on SPA this will cost me about RM9.8k 2. i need to pay for legal services between MYSELF and the BANK LOAN this means i need to prepare for: Facilities agreement charge form 16A (WHAT IS THIS FOR?) private caveat (is this even necessary?) reimbursements stamp duty on facilities agreement etc registraction of entry & withdrawal of caveat this will cost me RM7.3k Am I getting conned or is this the market rate? what can i negotiate for? 2. correct. charge form - to prepare the charge ofyour property to the bank. so that if u cannot pay the bank can lelong ur prop  caveat.. yes, but not under loan lei? should be under spa, lawyer to check for any caveat and lodge a caveat ie chope the property. same for all the entry/withdrawal of caveat. again if ur lawyer is also panel lawyer of bank, ask discount on preparation of facilities agreement looks ok.... loan facilities fees etc can be lumped into your bank loan, in case u didn't know, no need for you to fork out cash. i would do that and get a flexi and just dump the 7k back into the loan account. at least i could withdtaw it in case of emergency...not saying youcan't afford to pay that 7k cash... This post has been edited by corleone74: Aug 13 2015, 07:02 PM |
| Change to: |  0.0150sec
 0.48
 6 queries
 GZIP Disabled
Time is now: 26th November 2025 - 04:02 AM |
Quote