The prop I purchased is expected to be completed Q4 this year and there's some chatter on the MOT amongst the owners, my unit is purchased at 720k and loan is 676k...

I was quoted by my SA that the MOT will be 30k+ but I have a few question in my mind as below:

1. Is the amount correct? Is there any updated calculation method except consulting the lawyer?
2. What if I can't pay the MOT? Does that means I can't get the key or?

Hi all,

I bought a condo with SPA price 559,830..

1 - how to calculate my MOT? Can anyone confirm my calculation here?

(MOC im not sure, because solicitor didnt mentioned any about MOC, just mentioned i need to pay MOT. Or you guys think its a must for MOC?

so my calculation for MOT,

SPA - Rm 559,830

Stamp duty:
- 1st 100k (1% x 100k) = Rm1,000
- next 400k (2% x 400k) = Rm8,000
- 500k & above (3% x 59,830) = Rm1,795

Total = Rm10,795

Legal Fee:
- 1st 500k = (1% x 500k) = Rm5,000
- next 500k = (0.8% x 59,830) = Rm479

Total = Rm1,369 (Rm5,479 x 25%) if use same lawyer

So total i need to pay for MOT is = Rm12,165 (Rm10,795 + Rm1,369)

Am i calculating it correctly? Need sifus to endorse my calculation..

Plus, in my case, this is my first house. Am i eligible for 50% discount MOT? Huhu..

This post has been edited by Meta91: Oct 27 2017, 09:05 PM

1. if u got bank loan then it's a must for MOC. generally the MOT will be done by the lawyer who did ur SPA last time and the MOC will be done by the lawyer who did your loan last time.

2. ur MOT calculation for legal fee n stamp duty is correct, but u need to factor in registration fee (differs from state to state) and disbursements which could amount anywhere between 500-1k

3. ur not eligible as the SPA price exceeds the 500k threshold.

This post has been edited by hanhanhan: Oct 30 2017, 12:35 PM

1. MOT stamp duty is RM15,600, legal fees is RM1,690 if u use the same S&P lawyer. disbursements anywhere between 500-1k. THe other thing u may need to pay is MOC (for loan) but that shouldn't be too exp, should be between 2-3k

2. u can still get the key.

Thank you very much for the reply bro, I've contacted the law firm and they told me that they will arrange the process once the key collection is near

Hi Sifu's

Need your expert opinion..below the quotation i got from the lawyer.

Property value: RM450 000 (Subsale)


LEGAL FEES
1. Sale & Purchase Agreement 4,500-00
2. Preparing & Filing of RPGT 200-00

GENERAL EXPENSES
1. Printing & Postage 100-00
2. Travelling 100-00
3. Miscellaneous 50-00

6% GST Tax on RM 4,750-00 285-00

DISBURSEMENTS
1. Stamping :
- Sale & Purchase Agreement 40-00
- Stamp Duty on Memorandum of Transfer 8,000-00



2. Registration :
- Memorandum of Transfer
675-00
3. Land search 40-00
4. Bankruptcy Search
20-00
5. Statutory Declaration 40-00

Is it reasonable?

yes it's reasonable. they missed out charging u a few things consider good enough d (eg legal fee on statutory declaration rm100 per SD, their RPGT also follow old value cos recently increased liao). disbursement also consider cheap.

Hi, I just want to ask about my first home purchase.

Paid booking fee RM 10,000 and then sign SPA immediately, and after that only apply for loan - which is approved and already sign LO.

The sales agent say I get the following:
- Free SPA legal and disbursement
- Free loan legal and stamp duty


So this means the MOC and MOT will have to be paid by me? The project is still undercon.

usually if they dont say then means MOT & MOC charges u need to bear ownself.

Check the discount letter when u sign the S&P - usually developer will have a side letter to confirm what 'free' things u have.

May i know if i wish to transfer my properties to a Sdn Bhd owned by me and my wish. Do i need to pay MOT stamp duty?

Hi, i need some advise on below:

- How much is the "administration fee" for the developer to execute MOT between the "developer" and "purchaser".

Thanks.

Yes, related party transaction stamp duty waiver only applies to transfers between companies. Not individual to companies and vice versa. Besides, why do you want to transfer the property from an individual into a the company?

The developer cannot levy any charges to execute memorandum of transfers for cases of perfection however they can levy charges on the execution of same if they have agreed on effect a transfer directly in favor of purchasers (where subsale transactions are involved)

Even so, it depends on whether the property is categorized as commercial or residential. For the former, an administrative charge of between "1% - 2%" on the current selling price or the price in which you acquire the property (whichever is higher) is applicable.

For residential, a confirmation fee of RM53.00 only can be levied. Under HDA, the developer cannot impose any other conditions.

MOT Calculation:

SPA amount- RM 650,000

1.) Stamp duty:
- 1st RM100k (1% x RM100k) = RM1,000
- Next RM400k (2% x RM400k) = RM8,000
- RM500k & above (3% x RM150k) = RM4,500

Total MOT Stamp Duty= RM13,500.00

2.) Legal Fee:
- 1st RM500k (1% x 500k) = RM5,000
- Next RM500k (0.8% x 150k) = RM1,200

Total MOT legal fee = RM6,200.00

Total MOT Cost = RM19,700.00

Izit correct above calculation?

I think your calculation about the same as mine. Of course for different purchase price.

Just wondering can l bargain for discount legal fees if more than one property given to the same lawyer for the same project?

Anyone had any experience before, please share and thank you.


This post has been edited by hhho: Apr 5 2018, 03:16 AM

purely just to transfer title to ur name (no SPA / no change in ownership)
use same lawyer who did ur SPA = legal fee 75% discount
use other lawyer = 50% discount

u haven't include ur disbursements which could be between rm500-1k+ depend on which land office/area.

Hi, may I get some advice ab the MOT?

Recently, I bought a condo with 1 family member. The SNP price is about RM600K. We put both names for the SNP and Loan.

This is my 1st home and my portion of property price is RM300K (i.e. less than RM500K), may I know if I qualify for the Stamp Duty(MOT) waiver as announced in the GOV's budget?

Looking forward to knowing the answer.
Hopefully, someone here can give me some clues.

Many thanks.

as long spa price is above rm500k then ur unable to use that waiver.

doesnt matter if u count 'your' portion is 300k.

they look at the total SPA price.

Just got a quote from my same S&P lawyer to settle my freehold condo MOT:

Purchase Price: RM502K

Solicitor fees: RM1250 (apparently alredi gave me 75% discount)

Land Search fees: RM30
Registration fees on MOT: RM400
Travelling Expenses: RM200
Misc: RM100

Stamp Duty on MOT: RM9060

TOTAL: RM11,044

So can anyone advise if the quote is reasonable? thx in advance....
Btw, i don't have any loan outstanding.

Hi admin.
I would like to execute the MOT for my mother's town house, we purchased the property many years ago. Last month I received this letter , just wondering should I go straight to the address above or go to the S&P LAWYER ?

Besides, the property we purchased many years ago cost 130k. How much fees consider reasonable for the MOT ?

Thank you in advance.

This post has been edited by ace_halo: Jun 10 2018, 01:11 PM


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yes it's reasonable..

if you initially purchase direct from developer, u can get additional 35% off the legal fee