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 Laywer fee for puchasing house, Laywer fee on spa and loan agreement

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TSSarah894
post Oct 4 2018, 09:50 PM, updated 8y ago

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Hi, i need advice on the lawyer fee on purchasing a house. I received a quotation from laywer, the amount is rm6200. I bought rm128k house. And obtain 100% loan. Is it reasonable? Can i negociate the fee with laywer?
me_1980s
post Oct 4 2018, 09:53 PM

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Please post the breakdown. Otherwise difficult to advise you.
TSSarah894
post Oct 4 2018, 09:58 PM

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QUOTE(me_1980s @ Oct 4 2018, 09:53 PM)
Please post the breakdown. Otherwise difficult to advise you.
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Here the attachment on the breakdown of the fee. Thanks a lot


Attached thumbnail(s)
Attached Image Attached Image
prophecus
post Oct 4 2018, 10:01 PM

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it is reasonable. More important is what is the reputation of the firm? efficient? slow? You dont want the process to drag few years.
TSSarah894
post Oct 4 2018, 10:08 PM

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QUOTE(prophecus @ Oct 4 2018, 10:01 PM)
it is reasonable. More important is what is the reputation of the firm? efficient? slow? You dont want the process to drag few years.
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The firm reputation is good. No worries on that. Thanks for your advice 🤗. I have a member told me that the laywer fee is ok as long as it is not more than 4% of the house price. Is it true? Because wth rm6200 is more than 4% of rm128k . 4.8% to be exact.

This post has been edited by Sarah894: Oct 4 2018, 10:12 PM
me_1980s
post Oct 5 2018, 05:19 PM

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Private caveat registration fee and charge registration fee so high until 700 and 200 respectively? Where's the property located? If it's Selangor, Entry and withdrawal application only RM320 +RM80 [RM20 (noting fee) for each application]=RM400 and as for charge RM100+20(noting fee)=RM120. You can check http://ptg.selangor.gov.my/index.php/pages/view/423
If KL, can check http://www.ptgwp.gov.my/portal/muat-turun-borang

If your property is at another state, please check their website to confirm.

What's "Borang I" ? Is it Town Council change of name form? If yes, you can do it yourself unless you lazy to do so.

I think "land search and Official land search" under the loan quotation is kinda on the high side. If RM110 is acceptable because RM50 (for official) + RM30X2 (normal search). This also depends on the state land office charges. Different states will have different charges.

"Affirmation and stamp duty for SD" also kinda high. RM20 for stamping + RM 20 for affirmation totaling RM40 is kinda reasonable provided only sole borrower.

This post has been edited by me_1980s: Oct 5 2018, 05:21 PM
TSSarah894
post Oct 8 2018, 01:26 AM

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QUOTE(me_1980s @ Oct 5 2018, 05:19 PM)
Private caveat registration fee and charge registration fee so high until 700 and 200 respectively? Where's the property located? If it's Selangor, Entry and withdrawal application only RM320 +RM80 [RM20 (noting fee) for each application]=RM400 and as for charge RM100+20(noting fee)=RM120. You can check http://ptg.selangor.gov.my/index.php/pages/view/423
If KL, can check http://www.ptgwp.gov.my/portal/muat-turun-borang

If your property is at another state, please check their website to confirm.

What's "Borang I" ? Is it Town Council change of name form? If yes, you can do it yourself unless you lazy to do so.

I think "land search and Official land search" under the loan quotation is kinda on the high side. If RM110 is acceptable because RM50 (for official) + RM30X2 (normal search). This also depends on the state land office charges. Different states will have different charges.

"Affirmation and stamp duty for SD" also kinda high. RM20 for stamping + RM 20 for affirmation totaling RM40 is kinda reasonable provided only sole borrower.
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Thanks alot for the explanation and briefing. I will further search websites and gov portal and discuss with laywer regarding the price!
hanhanhan
post Oct 11 2018, 01:41 AM

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QUOTE(Sarah894 @ Oct 4 2018, 09:58 PM)
Here the attachment on the breakdown of the fee. Thanks a lot
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very cheap.

entry withdrawal caveat may be rm700 due to

1. enter ur own private caveat
2. enter bank's caveat

because ur S&P bill did not have any entry of caveat disbursement charges (lawyer earn nothing from that).
hanhanhan
post Oct 11 2018, 01:45 AM

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QUOTE(Sarah894 @ Oct 4 2018, 09:58 PM)
Here the attachment on the breakdown of the fee. Thanks a lot
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in spa bill should have 'entry of caveat' on legal fees and disbursement as well.

it's either they cincai mark up loan price , or they intend not to charge u legal fee to enter your own caveat as a buyer, or they're not entering any caveat for u (as buyer).

reputable firm? maybe.

help save client's money (duwan to charge extra)? maybe.

cincai do quotation due to low purchase price? maybe.
13aby
post Oct 15 2018, 03:20 PM

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My spa price 584k, agent told me legal fees around rm8k. Hmm how to calculate actually?
omnimech
post Oct 15 2018, 03:23 PM

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QUOTE(Sarah894 @ Oct 4 2018, 09:50 PM)
Hi, i need advice on the lawyer fee on purchasing a house. I received a quotation from laywer, the amount is rm6200. I bought rm128k house. And obtain 100% loan. Is it reasonable? Can i negociate the fee with laywer?
*
Legal fees can be negotiated most of the time.

Stamp Duty cannot.

I managed to negotiate a 55% discount on both my S and P and Bank Loan Agreement
buckbugs
post Oct 17 2018, 01:18 PM

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QUOTE(Sarah894 @ Oct 4 2018, 09:50 PM)
Hi, i need advice on the lawyer fee on purchasing a house. I received a quotation from laywer, the amount is rm6200. I bought rm128k house. And obtain 100% loan. Is it reasonable? Can i negociate the fee with laywer?
*
Hi Sarah,
is it sub-sales?
if you need free advice, i can forward u a lawyer number. She is expert on housing and able to give free advice. Maybe u can check with her

This post has been edited by buckbugs: Oct 17 2018, 01:19 PM
TSSarah894
post Oct 19 2018, 10:21 PM

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QUOTE(buckbugs @ Oct 17 2018, 01:18 PM)
Hi Sarah,
is it sub-sales?
if you need free advice, i can forward u a lawyer number. She is expert on housing and able to give free advice. Maybe u can check with her
*
Hi buckbugs, yes i bought subsales house, sure, why not, i will ask further regarding the laywer fee to her. Thanks a lot!!
TSSarah894
post Oct 19 2018, 10:23 PM

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QUOTE(omnimech @ Oct 15 2018, 03:23 PM)
Legal fees can be negotiated most of the time.

Stamp Duty cannot.

I managed to negotiate a 55% discount on both my S and P and Bank Loan Agreement
*
How do you do it, please share with me the tips

 

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