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 Discharge of loan, how much

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TSsai2
post Jan 12 2016, 09:00 PM, updated 10y ago

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I know the standard discharge fee is $300-400, but my lawyer tell me there is other misc expenses which cost a few more hundreds, total sure below $1000.
Is this normal, $300++ etc ? normally total is how much if the strata title is ready and loan fully paid already.

My lawyer also ask me go to the bank to sign a form to appoint him as the discharge lawyer, but my friend experience said don't need go to bank, so which one correct ?

airtawarian
post Jan 12 2016, 11:40 PM

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discharge only RM300 plus disbursements. pm me if you want further information.
shaniandras2787
post Jan 15 2016, 10:47 AM

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QUOTE(sai2 @ Jan 12 2016, 09:00 PM)
I know the standard discharge fee is $300-400, but my lawyer tell me there is other misc expenses which cost a few more hundreds, total sure below $1000.
Is this normal, $300++ etc ? normally total is how much if the strata title is ready and loan fully paid already.

My lawyer also ask me go to the bank to sign a form to appoint him as the discharge lawyer, but my friend experience said don't need go to bank, so which one correct ?
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RM300 - RM400 is just the legal fees. A complete billing for discharge of charges usually adds up to about RM800+

QUOTE(airtawarian @ Jan 12 2016, 11:40 PM)
discharge only RM300 plus disbursements. pm me if you want further information.
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misinformed much?

where did you get such information?



airtawarian
post Jan 16 2016, 03:23 AM

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QUOTE(shaniandras2787 @ Jan 15 2016, 10:47 AM)
RM300 - RM400 is just the legal fees. A complete billing for discharge of charges usually adds up to about RM800+
misinformed much?

where did you get such information?
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I'm in this field. So anything you can PM me.
jason1986
post Jan 16 2016, 03:02 PM

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For discharge of charge, the legal fees as provided and fixed under the Solicitors Remuneration Order is RM300.

Other disbursements will be:

registration fee for the discharge paid to the land office (depends on LO), if kl and sel will be rm 70 (inclusive of PA noting).

Stamp duty - Rm10.

vesting order - if applicable will be rm100 (kl n sel).

land search - rm30.

travelling, printing, postage etc will come up to around 300 to 400.

Most banks do not require you to go to the bank to execute a form on the legal firm you are appointing. Law firm will prepare a letter of authorisation for you to sign and will forward it to the bank with the discharge form.

You will need to provide a copy of the title and the current quit rent and assessment receipts to your lawyer.

Can pm me if you need further info.


shaniandras2787
post Jan 18 2016, 10:20 AM

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QUOTE(jason1986 @ Jan 16 2016, 03:02 PM)
For discharge of charge, the legal fees as provided and fixed under the Solicitors Remuneration Order is RM300.

Other disbursements will be:

registration fee for the discharge paid to the land office (depends on LO), if kl and sel will be rm 70 (inclusive of PA noting).

Stamp duty - Rm10.

vesting order - if applicable will be rm100 (kl n sel).

land search - rm30.

travelling, printing, postage etc will come up to around 300 to 400.

Most banks do not require you to go to the bank to execute a form on the legal firm you are appointing. Law firm will prepare a letter of authorisation for you to sign and will forward it to the bank with the discharge form.

You will need to provide a copy of the title and the current quit rent and assessment receipts to your lawyer.

Can pm me if you need further info.
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^

apparently airtawarian is a practicing solicitor and only charge RM300 for the entire transaction. If according to the information you provided, he is providing free legal fees and only charging disbursements laugh.gif

This post has been edited by shaniandras2787: Jan 18 2016, 10:20 AM
airtawarian
post Jan 18 2016, 05:41 PM

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QUOTE(shaniandras2787 @ Jan 18 2016, 10:20 AM)
^

apparently airtawarian is a practicing solicitor and only charge RM300 for the entire transaction. If according to the information you provided, he is providing free legal fees and only charging disbursements laugh.gif
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Hello, adik please read carefully, "discharge only RM300 plus disbursements", meaning legal fees RM 300 plus other disbursements which may be around few hundreds. icon_rolleyes.gif
shaniandras2787
post Jan 19 2016, 09:20 AM

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QUOTE(airtawarian @ Jan 18 2016, 05:41 PM)
Hello, adik please read carefully, "discharge only RM300 plus disbursements", meaning legal fees RM 300 plus other disbursements which may be around few hundreds. icon_rolleyes.gif
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lol typical lawyer style talk la you.

people want to know the full fees chargeable, you go and tell people RM300 for legal fees and the disbursements in an unknown figure then people finally engage you then you tell people "Oh! actually, the full fees is about RM800"

... and even so, "few hundreds" doesn't really gives anyone an impression how much the bill will end up. so vague.

-.-

This post has been edited by shaniandras2787: Jan 19 2016, 09:22 AM
airtawarian
post Jan 19 2016, 05:53 PM

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QUOTE(shaniandras2787 @ Jan 19 2016, 09:20 AM)
lol typical lawyer style talk la you.

people want to know the full fees chargeable, you go and tell people RM300 for legal fees and the disbursements in an unknown figure then people finally engage you then you tell people "Oh! actually, the full fees is about RM800"

... and even so, "few hundreds" doesn't really gives anyone an impression how much the bill will end up. so vague.

-.-
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You must understand one thing. Legal fees are governed under SRO whilst disbursements are not fixed. Therefore, we do not know how much will be incurred for disbursements. We will always prepare quotation legal fees for client for their reference as well. Moreover, you always have a choice to appoint any solicitor if you found out that's/he is trying to mislead you.
jason1986
post Jan 20 2016, 04:49 PM

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QUOTE(shaniandras2787 @ Jan 18 2016, 10:20 AM)
^

apparently airtawarian is a practicing solicitor and only charge RM300 for the entire transaction. If according to the information you provided, he is providing free legal fees and only charging disbursements laugh.gif
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Don't drag me in please. I am just here to share my knowledge with fellow forum members.

Peace. icon_rolleyes.gif
LSL1990
post Jul 19 2019, 12:58 PM

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QUOTE(airtawarian @ Jan 12 2016, 11:40 PM)
discharge only RM300 plus disbursements. pm me if you want further information.
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PM me.

matinfawwaz P
post Jul 19 2019, 07:00 PM

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QUOTE(sai2 @ Jan 12 2016, 09:00 PM)
I know the standard discharge fee is $300-400, but my lawyer tell me there is other misc expenses which cost a few more hundreds, total sure below $1000.
Is this normal, $300++ etc ? normally total is how much if the strata title is ready and loan fully paid already.

My lawyer also ask me go to the bank to sign a form to appoint him as the discharge lawyer, but my friend experience said don't need go to bank, so which one correct ?
*
the average charge to discharge can vary but generally less than RM1000. because some banks do charge us the for the documents to discharges which is unfair but we still have to buy it from them..

so I normally give quote after knowing which bank did my client take the loan from.

you don't have to go to the bank la.. just an appointment letter is sufficient.

some charges abit more if the bank hq is further away from their office as the cost for dispatch increase.

for me since my office is close by to some bank, so for these bank i charges less for travelling, but for some i charge abit more.


survey2 je la dulu

CyberKewl
post Aug 22 2020, 10:31 AM

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Hi anyone have contact for lawyer that does property discharge? Let me know thanks
Pac Lease
post Aug 26 2020, 08:40 AM

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QUOTE(CyberKewl @ Aug 22 2020, 10:31 AM)
Hi anyone have contact for lawyer that does property discharge? Let me know thanks
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U can just walk in to ur nearest lawyer firm and get thr quotation from them will do.
idoblu
post Sep 5 2020, 10:06 AM

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anyone knows how long does the whole procedure takes?
from full settlement till getting back all my documents and discharged?

if you know the exact time sequence of events, with public bank especially, that would be very helpful as well. Thanks in advance
mini orchard
post Sep 5 2020, 11:41 AM

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QUOTE(idoblu @ Sep 5 2020, 10:06 AM)
anyone knows how long does the whole procedure takes?
from full settlement till getting back all my documents and discharged?

if you know the exact time sequence of events, with public bank especially, that would be very helpful as well. Thanks in advance
*
Average is about 2 months.

Personally, I rather let the bank keep the documents until I decide to sell the property. Is safer in their vault than my home.
idoblu
post Sep 5 2020, 12:19 PM

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QUOTE(mini orchard @ Sep 5 2020, 11:41 AM)
Average is about 2 months.

Personally, I rather let the bank keep the documents until I decide to sell the property. Is safer in their vault than my home.
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Agreed but you dunno my bank
They suka suka charge me things. 5 years already kena few times. Lately they charged me dunno what again. These were eventually credit back to me after a long process of complaints. I had enough so decided to settle

 

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