Hi guys,

want to ask does it really have to be that expensive i thought rm2k+- can settle liau, the lawyer fee price is from CIMB. Anybody got loan from that bank??

Why so expensive

*sigh*

another 3k+- poorer liau...

how much loan u getting?

Legal fees are based on a scale determined by the bar council. Members are not supposed to give any discounts.

getting about 150k++ of loan

really??but 3k+- is really expensive is it a standard price, when i ask whether it's negotiable or not the bank fella like don't want to tell i think they want to jack up the price so they can earn also

damn biatch

*sigh*

Ask your lawyer for discount... not the banker... my loan agreement fees was nearly RM6k but I got 20 percent discount just ask them its perfectly normal.

waahhh lau...so expensive 1 arr, how much wor the house you beli 6K is freaking alot ler, the money can use for renovation liau

now i know why the lawyer is freaking rich

some banks offer package which has free lawyer fees. Scout around

Always get your own lawyer. Bank's lawyers usually don't service you that well cuz Bank is bigger customer to them.

I was unlucky enough to get an incompetent one who didn't file at the proper time, delayed the deal by 3 months (costing me 3 months of added costs) and f-ed up my life for a few months. Cost me much less then your fee for similar loan amount.

BTW, there is a law on how much the lawyer can charge you. first 100K got percent, then next 100K got another percent figure. Cannot change one, so better ask if the sodding lawyer is charging you 500 for phones calls and photostats. Maybe includes other fees such as caveat.

I think it's 3% of the loan amount... if i'm not mistaken lar..

Discount is not allowed... but somehow, i heard, some of the lawyer will do this way... u pay first, then later they will give u back the discounted $$$...

but because CIMB loan interest is very attractive ler..it's only 5.65% ler that's why i take that bank don't know still can change to other bank or not ler..the loan not yet approve lar..hmm what if approve liau, how ler??can cancel or not arr

1st time buying house ler...no experience haii~~

*sigh*

Perhaps it is because you go for the special rates that is why you have to go for higher lawyer fee. Wait till they send the evaluators around and charge you another few hundred bucks.

Aiya... everybody kena con wan lah when buying house or car. So many costs they force on you and you have no choice but to pay. You complain no action will be taken, you go court waste more time and money.

Just read your post again. I think you got penalty once the offer letter out and you don't take the offer. Very snake one... go read your offer letter properly. If you want to change lawyers, I can recommend the one I used. Quite fair lah the pricing.

so many snake around , how much arrr your lawyer will charge??can ask for me boh can i take the loan but bring in my own lawyer arr well hope i still can walk out the bank if i do so hehehe

My loan amount was similar to yours. I paid slightly less than 2K. About 1800 like that I think. Inclusive of a few hundred extra for caveat and some document running, fax and telephone calls.

But first, you have to check with your bank if you can use your own lawyer. I'm sure you can because it is unfair of the bank to insist that you use their lawyer as it does not look out for your rights. I think you can report that to the bar council if it happens.

Then your lawyer will contact the bank's lawyer and they will handle the things between them. You pay your lawyer, bank pays their own lawyer unless your offer letter says otherwise. Then you might have to pay both lawyers. Lagi worse. Again, check har before you sign anything.

Is yours a new or second-hand property?Get the previous S&P if you can. Get any land or strata titles too if you can. Get all the bills - water, letrik, bandaraya, see-hang charges too (Indah Water lah). Get all receipts of downpayment, bank offer letter, etc, etc ready. If you want to take EPF money better start checking procedure too.

Conclusion: First find out if you can appoint your own lawyer before you ask me to spend time and money calling my lawyer. I mean, lets be fair lah, I oso very busy.

Once confirm OK, PM me your full name and phone number and I will arrange for my lawyer to call you right back. You will have to go to both lawyers to sign some documents, but other than that everything else can be handled by despatch (you'll be charged in some instances)

---

Added on March 26, 2007, 7:42 pmActually ah... 3K is an OK price if you have to bear the lawyer cost for the bank as well. Best is to go for the package with no lawyer fee, but have to pay a bit higher interest.

If your package hv to pay lawyer, then you appoint another lawyer.. end up paying two sets of lawyers very mahal one.

This post has been edited by the65thsquare: Mar 26 2007, 07:42 PM

Actually forgot to ask you for details.
Your current lawyer is for S&P or Loan agreement?
Your house is 2nd hand or new (purchase frm developer)?

RM300K... but they gave discount after that...


Actually before fully engaging the lawyer you should ask for a detailed quote specifying the services they offer/going to do and how much is each of the itemised items.

Also my lawyers also got screw up and cause me to incur late charges by the developer... I wrote them a letter complaining they failed to discharge their fiduciary duties and are liable for the cost of late charges...

made them pay for it, why should I fork over the money when its their fault

This post has been edited by aaronpang: Mar 27 2007, 12:22 PM

At least you have the patience to pursue the matter. I so fedup I just didn't bother to waste time chasing or writing complaints. Already stressed enough from all that crap.

Lawyers like small kids like that. Have to look over their shoulder, call them all the time and remind them what needs to be done... I oso wonder why we are paying them anything at all in the first place.

IMO it should be about right for the loan amount. This kind of thing better not ask for discount too much, that little 200-300 difference might become a hassle later.

sorry for the late reply was busy with the housing thingy buying a house can be in such a pain

1. the lawyer fee is for the loan agreement the S&P no need to pay the fee

2. the house is new, still in development, will complete end of this year, the developer is vilamas sdn. bhd the project is call villa pavillion

sorry for the late reply also, yeah i'll give the banker a call to see if i'm allow to do so, else then no choice lar rm3k also have to pay lar..who ask me want to buy house

A lot of people though that buying a house is just it. There are always a lot of other fees that you need to cater. Not like got 10k then use all for down payment. A lot of those hidden fees like lawyer fees, stamping duties, MRTA and so on does need to be catered. Then, once you get the house, you have to set some money for renovation, furniture and fittings. Really a lot of $$$ involves. So, better plan you budget nicely.

This post has been edited by abubin: Apr 3 2007, 03:35 PM

budget all plan nicely liau, only thing there is alot of thing that really need to have experience else you will be a headless chicken running around don't know what to do 1st

again, thanks alot for the explanation and opinion appreciate it

ya ...i so agree with abubin. When i 1st bought my house, i tot the house price was it. Then came the S&P fees. Then came the Loan Fees. Then the MRTA! Then the misc fees. Then gotto pay for utilities deposits. Then now gotto pay the transfer title fees and its gonna cost me a bomb!! Sniff sniff....havent even count my monthly maintainance fees and sky high interest fees!

yea everything seems "hidden" unless you take initiative to enquire bout it!

I got a letter asking me to go sign the S&P this weekend. it didnt mention about bringing anything. I called and enquired to know what should I prepare. Only then I found out I need to bring $250 for the signing fee!

Buying a property is a lot of headache, not only in monetary terms. If the lawyer can get the work done fast, then consider it as money well spent.

Lawyer fees is not fixed...
It depends on your property price...

Btw if u guys looking for lawyer, i have a lawyer fren...
Office located at Taman Desa, Old Klang Road

ahhaha..yalor. i 1st time buyer....the only thing i enquire was how much i gotto pay, all they told me was downpayment and bla bla bla.

Another thing is VErY MISLEADING ....hahahha
when they say, only pay RM1000 downpayment......please, house buyers, dun think only RM1k downpayment. When u pay tat deposit, u better make sure u got alot of reserved money or at least research 1st on how much loan u are actually qualified to take!! hahah.....becoz, it really depends on how much loan u can actually take from the bank. Lets say your house is 200k, and u paid RM1000 deposit/downpayment........then later the loan officer tells u tat u r only qualified to get a RM100k loan, u better vomit out the other RM100k or u can opt to lose your RM1k deposit, unless of coz your developer being nice and all, returns yer deposit.

My 2cents is if lets say your down payment is RM30k have at least RM10k to RM15k for the other fees... basically buffer extra 30 to 50 percent of your downpayment sum for:-

the loan lawyers
the S&P lawyers (usually developer absorb the costs, but it depends)
land office/stamp duti
insurance (MRTA)
utility deposit (water and electricity)
fire insurance (because its a requirement in my loan agreement)
and for high rise sinking fund and whatever maintenance fees/deposit!

Its actually not hidden, most first time home owners never do their homework to find out in detail what's involved in procuring a property.

There are also yearly and monthly costs but its not significant like assessment and quit rent...

Preparation is key... for more housing info and advice visit National House Buyers Association (HBA)

This post has been edited by aaronpang: Apr 7 2007, 02:32 AM

really damn dulan today..i'm suppose to go sign agreement with the banker for the home loan, then suddenly the interest rate was different from what i have been told before, then reading through the agreement i found that they have bundle with a insurance call GMTA not mRTA i was like WTF???then i screw the banker in front of everybody, well i doesn't want to but my appointment is at 12pm, she was late for 1 hour never even have the courtesy to call me and tell me that she is late and i haven't got my breakfast yet she let me wait so long, and wasted all my time for my work.

some more when she come with the agreement it's full of bullsh!t, ever heard of a bank that don't allow you to pay more not even rm1 for your loan..number 1 WTF!!! then i truely piss off...some more read through the agreement saw something other then MRTA which was not mention before, fine then i ask her, WTF is this money for she say is for insurance but if you don't want also can, then i lagi dulan, i shout at her don't you suppose to give me an option whether i want to bundle this shit or not before you come out this agreement? then she keep quiet, after that she say if you don't want we can remove that but you won't enjoy the zero interest for the 1st year, and you will be charge 0.01% then i told her, to screw with the whatsoever GMTA that you are offering, that 0.01% is nothing to me, but why the F*** i can't pay more for the installment if i got the extra money..

the service is so so so bad...never get loan from C**B bank..the banker SUX, but this is an experience that i get with C**B i'll not go to them again.

SO PPL STAY REALLY FAR AWAY FROM C**B if you are given a choice.

Now i have to look for other bank liau luckily i read through the agreement before i sign.

so please read what so every paper that you gonna sign...play safe, don't lazy..

ahah..mine is WORSE.

first my banker took 10 days to get the loan approved and meet me to sign the offer letter. then he overshoot his calculated MRTA (he said will be around the figure of $7000) by nearly $2000. So the offer letter quoted an MRTA of $8700 i think

THEN he found out the MRTA need READJUSTED since my gf just turned 29 yesterday when he meet us (after much follow up from him many many days b4).Hmm I have to layan him the day when I was suposed to celebrate my gf bday, sigh. He said need additional $200++ (what a great GIFT from him! )

As the polite person I always am, I just politely told him I wish to have my MRTA adjusted to cover bout %50 of the property price (took him overnite to calculate and inform me that value). Now he said need 3-4 more days to furnish another offer letter (what took them so long anyway? since the offer letter should be easily produced when the bank are done "evaluating" our "credit score").

btw i just signed my S&P this morning.

This post has been edited by alanyuppie: Apr 15 2007, 10:45 AM

That's the problem with bankers these days, their full of shit and not interested in helping customers... it's the same with lawyers too... all they care about is making easy money photostatting documents.

My advice is go check with your friends or others who have contacts with a good banker and lawyer... thankfully the lawyer (S&P) and banker (loan) are very efficient and know how to advice and guide me... my S&P lawyer esp. always kept me updated of what their doing and cc me a copy of all their outgoing mail etc.

Sadly I can't say the same for my other lawyers (loan), never hear anything from these people and I have to pursue them like a rabid dog. Heck they somehow managed to get the bank to send the disbursement check to the architect instead of the developer. Causing late charges to be incurred

i already sign my S&P with the developer, but not the loan agreement with the bank, i have consult some of the ppl from the bank they said i'm still ok to look for other bank, as long as i haven't sign any paper with the bank that approve my loan. so after this i'll look for other bank already i don't want to go with the C**B now, but this thursday i need to pay the 10% down payment because i have sign the S&P...

anybody got any banker to introduce arr??stupid C**B banker damn screw up everything...b@stard

I can intro you my banker but where do you live... its better if your banker is located nearby... to where you live

I live in Puchong and my loan is from OUB Puchong Branch just few minutes away from my house.

Anyway I'll PM you his info...

bro thanks alot got your pm

i live at bukit jalil. puchong is not very far from me heheh, i'm going to give your friend a call

thanks alot

---

Added on April 17, 2007, 11:44 amneed some advice on the loan guys, what do you all think?

should i go for the loan that lawyer fee absorb by the bank or should i go for lower interest rate but lawyer fee bare on my own..

how ler??

i check pbb the interested rate is:
1st 5 year - 1.10
6 years to 15th year - 1.25
15 to 30years - 1.35

but the the legal fee i have to bear

or UOB

Year 1 0% (Fixed)
Year 2 BLR - 1.25% (min 5.50%)
Year 3 - 5 BLR + 0%
Thereafter BLR - 1.00%

i have to bear the legal fee also.

This post has been edited by steven437: Apr 17 2007, 11:55 AM

if u have extra money, bear the legal fees..
else take those higher interest one...

beg in mind, u'll still need money for many things... just be prepared..

---

Added on April 17, 2007, 5:23 pmIt's a fixed rate for those insurance company... but i'm not sure what's their term is.. all i know is the MRTA have to buy from them...

This post has been edited by stormchaser: Apr 17 2007, 05:23 PM

CIMB rate is

1st year - 0%

2-8 years - 1.00%

9-30 years - 1.10

hmmm really don't know which 1 to go with, how ler any more opinion??