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 [Seller] Help me see the fees paid to lawyer film, Is the fee reasonable?

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mini orchard
post Oct 18 2023, 10:19 PM

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QUOTE(westlife @ Oct 18 2023, 07:35 PM)
please help to see if the fee is reasonable.

user posted image
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Fees are reasonable.

CKHT forms can diy and that will knock off another 700.
mini orchard
post Oct 18 2023, 10:31 PM

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QUOTE(westlife @ Oct 18 2023, 10:23 PM)
Ic. Thanks.

Can diy one or? Rm700 saving is not bad.

But I think no choice just pay it and let the lawyer film settle as a whole package I guess.

At least as a seller I had saved on the spa legal fee which is not cheap also.
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CKHT are lhdn tax forms submission requirement when selling or buying a property. Similar to the BE form for employment income.

If the lawyer is doing it, request a duplicate acknowledgment submission copy for your own file just in case lhdn haunt you years later 😂
mini orchard
post Oct 18 2023, 10:40 PM

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QUOTE(westlife @ Oct 18 2023, 10:32 PM)
Ic this form is required even I am not going to pay any property gain tax?

Becos my selling price is lower than my spa price previously.
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Is a requirement irrespective of profit or loss.

Same as BE form. Even if not taxable, still have to declare once you have a tax file.

In your next year BE form, there is also a declaration whether you have sold any property in 2023. If you make a false declaration, there will be a penalty if they find out because your buyer would have include your name as the seller in his form 😊
mini orchard
post Oct 18 2023, 10:52 PM

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QUOTE(westlife @ Oct 18 2023, 10:43 PM)
Icic. Ok thanks for the tips.

Is it very common that ppl diy this to save rm700? ðŸĪŠ
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It depends.

If you made 200k profit, then 700 is nothing. 😄

If you made 200k loss, then 700 is something. ðŸ˜ē

Again, some people hate filling forms, so he pays. While some others say I only pay once in 20 years, so oklah.
mini orchard
post Oct 19 2023, 06:28 AM

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QUOTE(westlife @ Oct 18 2023, 10:56 PM)
Icic. True. Hahaha.

I signed the SPA today but still yet to get my 10%. ðŸĪŠ
I was told that the spa will be stamped tomorrow Becos today when I signed that time it was passed the working hour.
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You should have receive the 10% upon signing spa irrespective when is the stamping.

That is one reason why seller require to engage a lawyer.

Once the spa is signed by both, it becomes a contract. If either party breached it even b4 stamping, then there will be legal recourse as provided in the spa.

If seller engaged own lawyer, the purchaser lawyer will then forward the spa signed by the purchaser together with the 10% to his lawyer.

Same with Tenancy agreement. Once signed, all deposits have to be paid irrespective of the stamping time.

This post has been edited by mini orchard: Oct 19 2023, 08:35 AM
mini orchard
post Oct 19 2023, 12:22 PM

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QUOTE(westlife @ Oct 19 2023, 10:50 AM)
ic. according to the person who witness my signing of SPA, she asked for my account no, so i think no matter how much delay, they also will need to transfer me the money soon i guess?

ultimately, the lawyer cannot 'makan' the 10% for any reason i guess?  sad.gif

anyway, already come to this stage, i dun think the buyer will make anything funny i guess? since he is also very keen to buy my house ultimately. as long as eventually my house is sold and i get all the money i am fine.

becos in the SPA, all the terms and conditions i signed are pretty much from standard template except a new special condition under annex said that if due to pathemic like covid etc. and cause delay the 3+1 will pause and resume after the pathemic is over.
to be fair, i am kind of cheapstake for not engaging my own lawyer, but i just do not wish to pay extra for this becos it is also not cheap.

besides, just to check, if seller enagge his own laywer, other than paying the legal fee + miscellaneous charges above. is seller required to pay stamp duty also? or the stamp duty is still paid by buyer only?
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If you don't mind some payment delay, then is not a problem. But to me, money in my bank is better than in another bank 😂

I can't say much about seller not getting the payment because there are reports that lawyers absconding with clients money, be it own lawyer or purchaser lawyer. Engaging a reputable lawyer is important.

An spa may read standard to most ordinary people but legal matters is all about wording to win a court case. Adding another word to a standard spa can change the entire contract intention and one need to be trained to spot it and have it amended or removed. No point arguing during a court case.

I will not speculate further what other problems might arise since every case is different and as long you are happy with the arrangement.

There are many types of stamp duty payable in a property transaction. If it is the seller obligations to provide the documents, then he has to pay for it and the lawyer will advise.

This post has been edited by mini orchard: Oct 19 2023, 12:24 PM
mini orchard
post Oct 19 2023, 01:41 PM

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QUOTE(westlife @ Oct 19 2023, 01:16 PM)
ok thanks a lot for the advice.  smile.gif

since it is already done deal now. i just need to hope that everything goes smooth.

ultimately, the buyer had the bank loan approved, signed all the loan agreement and SPA already. by rite it should have nothing that can go wrong at this point i guess, unless the buyer cancelled the SPA within 7 working days or he went bankrupt later on?  tongue.gif

besides, just to check that for subsale house, buyer could not claim any defects from seller after the SPA signed rite? this should be a standard thing rite? meaning the sale is based on 'what u see is what u get'? becos i am selling the house without removable items such as bed/tv/wahsing machine etc.. and inside SPA special condition, there is no mention of anything or inventory list, so the buyer cannot later then claim from me saying that those things should be inside right upon vacant possession?
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Once spa and la signed, there should not be any problem to complete the transaction. However, there might delay if certain other legal documents are not in order as it happened during my previous purchased. It took additional 1.5 months without interest payment due to fault of the seller.

As long the full payment is not received by the seller, he is ultimately responsible for the property and seller has to do it good before VP.

As is basis meaning there shall not be major 'alteration' to the property during initial viewing inspection and VP.

If the property was sold with major furnishing, then the inventory must be stated as an enclosure in the spa.

In my last purchase, the seller took away ALL the things including kitchen cabinet, lighting and fan 😂. I have no issue with it since I will buy new anyway but some buyers can be petty over it maybe he wants to rent it out without spending more money.

This post has been edited by mini orchard: Oct 19 2023, 01:57 PM
mini orchard
post Oct 19 2023, 02:15 PM

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QUOTE(westlife @ Oct 19 2023, 02:05 PM)
haha. interesting. but just curious, when u confirm the deal with buyer time is it agreeable that he will move away everything that is removable?
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When I first view the place, it so messy and unkept and I also didn't want to keep any of his things. I am not sure how is condition of the KC as I didn't touch it.

The only thing i like the place is because is not extended and still developer design. The rest is immaterial since I will also replace.
mini orchard
post Oct 20 2023, 08:37 PM

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QUOTE(westlife @ Oct 20 2023, 08:26 PM)
got the deposit today (minus off lawyer fee rm2k + agent commission).  tongue.gif  it took Dïž‹ 2 to get it. still ok.
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If you dont mind the slight delay. 😃

Your agent didn't collect any earnest deposit for sale ?

 

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