Hi, would like to seek advice.

I'm purchasing a 770k strata free hold prop, 80% loan secured.

The issue I'm confused with currently is in regards of legal fees payable (stamp duty, mot, SPA, etc.)

I went around to get quotations from a few law firms.

What I've been quoted, 29k ALL IN (stamp duty, etc. AND loan financing fees)


banker quoted 13k as the legal fees for loan (to be handled by the SPA lawyer), which will be financed into the loan.



so lawyer is telling me upfront payment is 29k minus 13k = 16k balance for SPA, MOT, Stamp duty etc.


I'm confused, from my understanding, the stamp duty estimated payable to the govt alone is already RM17k. How come I only need to pay less than the stamp duty cost for upfront SPA legal fees?


thank you

since you already get the quotation from your lawyer, would u mind to share the quotation here so we can advise you accordingly?

subsale/dev?

subsale

Is your spa and loan lawyer the same firm? Maybe they gave u some discounts?

Isn't there stamp duty waiver program by the government now? Not sure if it applies to subsale though

SPA RM770k
legal fee RM7160
stamp duty RM17,100
disbursements & ancillary approx RM1.5-2k
TOTAL - around RM25-26k (this one cannot finance in the loan, need prepare cash or withdraw from epf)

Loan 80% loan - RM616k
legal fee 5928
stamp duty 3k
disbursement & ancillary approx RM1.5-2k
TOTAL - around RM11k (<--this one can be financed in the loan)

bear in mind u need to prepare valuation fee (around rm1-2k) as well.