hi,any one know how much the legal fees for house at RM210k??

thanks....

this is for new purchase or refinancing?

\


2nd house,free hold,new purchase...2 storey house

legal fees is around 1920. on top of that there is a 5% govt tax, then stamp duty, which costs a bomb. stamp duty is 3200, but you might be eligible for the 50% discount being offered by lhdn, meaning you pay 1600 only.

on top of that, there are other charges, like stamping of the s&p, which is rm10 per copy, registration at the land office title search etc.

it is good to have an idea of what the fees is, and how its calculated, so you dont get cheated. so many cases of lawyers cheating out there.

S&P = 21k
NON ZMC = RM 10772.65
ZMC = RM 3016



Rizal
Mortgage planner
(AIA + 5 Major Bank)
019-611 5974

This post has been edited by rico_hard82: Aug 12 2008, 04:12 PM

my calculations above are for the sale and purchase agreement only.

what are your calculations for rizal? i don't get it.

for the non zero moving cost
you need to pay
for the
valuer
loan agreement
mot
stamp duty

this is the amount that you need to prepare if you take the non ZMC

so cheap??why my lawyer quote me RM 2800,and he say the fees already less about 40%..???

ya,the stamp duty less 50%,i pay RM 1600.

is 2800 including the stamp duty or legal fees alone?

Even firm has different pricing.

Are you sure?
Valuation report normally only cost a few hundred.
S&P and loan agreement basically cost around the same price. Thus If conservatively calculate everything, it only adds up to RM7k - 8k max.
Why would S&P cost RM21k?! Which cut throat lawyer?

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Added on August 12, 2008, 7:29 pmDifferent pricing comes from the "Misc. charges" they charged. Else the common fees are quite standardize according to property (S&P) and loan (FI's mortgage loan) value.


This post has been edited by b00n: Aug 12 2008, 07:29 PM

the S&P rm21k is the 10% deposit
not the lawyer fee,

that is the amount u need to prepare to buying a house
it consider wasteful l8r need to take personal loan or credit card

---

Added on August 12, 2008, 10:25 pmthe S&P rm21k is the 10% deposit
not the lawyer fee,

that is the amount u need to prepare to buying a house
it consider wasteful l8r need to take personal loan or credit card



This post has been edited by rico_hard82: Aug 12 2008, 10:25 PM

rico_hard 82,

u r not answering the topic and u r confusing ppl.

Now you're seriously confusing.....
Deposit is between the buyer and the seller. Whereas after the bank evaluates the property, they can decide on how much amount of loan is entitled for the said property. So it's basically up to the buyer to loan 100% if the bank allows, or 90% 80% etc....
If there's no loan (buyer buy by cash), than the only fee to be paid is the S&P lawyer fee, stamp duty, change of deeds and title etc...

So what's the 10% deposit are we talking about again?!

Anyone else with better explanation?!

let's stick to the S&P question, for a 210K property, all in for the fees (after discount of 30%) n stamp duty n other charges, should be around 6K or less.

ya,now total i pay is RM2800(legal fees + misc charges) + stamp duty RM 3200 = 6000.

but stamp duty less 50% now,only RM 1600,total = 4400.

is the fees ok?standard??

yup its cost around 6k
i forget to plus the Memorandum of Transfer in it,
here the full calculation

Zero moving cost

s&p (210k)
1st 150k x 1% = 1500
2nd 60k x 0.7% =420
legal fee = 1920

5% tax = 96
disbursment = 1000(+-) (misc. charge, myb higher or lower)

total = 3016.00

mot (210k) (based on the purchase price)
1st 100k x 1%= 1000
2nd 110k x2% = 2200

total = 3200 (50% discount if this is your 1st house you brought) (property more than 250k, NO Discount!!)


if non moving cost need to extra this

loan (189k) ( assume the bank give 90% loan)
1st 150k x 1% = 1500
2nd 39k x 0.7% = 273
legal fee = 1773

5% tax = 88.65
disbursment = 1000(-+)(misc. charge, myb higher or lower)
Total = 1861.65

execution of loan doc (189k) (based on loan)
189k x 0.5% = 945

Value (based on the purchase price)
1st 100k x 0.25% = 250
2nd 110k x 0.20% = 220
total = 470


if you take the zero moving cost
S&P agreement + mot =

if you take the Non zero moving cost
S&P agreement + mot + Loan facility agreement + execution loan doc + valuation =

rico, you are just confusing everyone. i think even you don't understand some of the things you are typing.

BZR101, the fees is still a bit high. should be able to go down a bit more.

ha ha ha
this is how the lawyer will confuse you
the misc charges is up to the laywer, here is where they can raise the price or discount to you

= (legal fee + misc charges/disbursment) + (stamp duty)
= (1920+ 880) + (1600)

RM 4400 is consider ok

This post has been edited by rico_hard82: Aug 13 2008, 01:45 PM

thanks so much to u all,u guys really helpful

just call the lawyer,he told me cause my house got title already,so need some charges for transfer title..anyway,i have to pay it today...