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Selling house, need advice
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TSkamui99 P
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 Apr 24 2019, 12:52 PM, updated 7y ago
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New Member
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dear all,
need some help...
I am selling my house
The agent lawyer told us that we (the seller) need to put a 30k deposit with ldhn before the relevant government bodies agree to proceed with the processing of the documentation
FYI. I am selling my house lower than the original purchase price so by right there's no RPGT..
when I check the website, it also does not mention that the seller needs to pay any deposit with ldhn..
i dont have any other lawyer friend to check.. so i wonder if i can get some advise here..
thank you
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TSkamui99 P
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Apr 24 2019, 01:25 PM
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New Member
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QUOTE(WaCKy-Angel @ Apr 24 2019, 12:54 PM) The lawyer will keep 10% of the money paid by buyer for RGPT purposes. Seller does not need to fork out money. Why selling lower than original price no need pay RGPT ? if the selling price is lower than the original purchase price.. there's no gain... so according to the ldhn, there's no need to pay. |
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TSkamui99 P
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Apr 25 2019, 09:59 PM
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New Member
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Will update again.. I meeting the agent to clarify again...
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TSkamui99 P
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Apr 26 2019, 11:20 AM
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New Member
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QUOTE(hanhanhan @ Apr 25 2019, 11:35 PM) » Click to show Spoiler - click again to hide... «
if there is no paper gain, then there is no need to retain 3% of the selling price to pay for RPGT. retention sum is 3% for local and 7% for foreigner. This retention sum is to be taken out of 10% deposit that the seller should get upon signing the SPA and it's to be paid to the buyer's lawyer (who then has the responsibility to pay to LHDN within 60 days from the SPA date) usually seller will get 10% of the selling price as a deposit upon signing S&P. If there is RPGT payable, then the buyer will pay their lawyer 3% (as retention sum) and then the balance 7% to the seller upon signing S&P (or the percentage the other way around if the seller is a foreigner). source: i'm a lawyer. thank you for the information.. really appreciate it.. |
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