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 Legal fees for loan at 353K, Legal fees advise

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ed0gawa
post Sep 24 2008, 12:44 AM

coconut
*******
Senior Member
4,398 posts

Joined: Jan 2003




for a 350k+ loan, a legal fee of RM7k is pretty fair

Don't expect bullshit 50% discount. Lawyers are 'not supposed' to give discount for the professional fee from what i know.

Banks get cheaper legal fee as there are certain fees that the banks does not pay the lawyer... Stuff like transportation/photocopy/telephone charges could be waived but why would they do that to a walk in customer?

And also, every firm charge differently when i compared various firms quotation.
ed0gawa
post Sep 24 2008, 05:35 PM

coconut
*******
Senior Member
4,398 posts

Joined: Jan 2003




QUOTE(lprincess @ Sep 24 2008, 12:14 PM)
My SNP cost me almost 11K, and my loan legal fee cost me around RM5.4K
my loan amount at 353K and property value at 380K.

So total it cost about RM16.4K.

I personally find that a little high.

The loan lawyer is my bank preferred list panel. She would not even care to discount any at the disbursement. Told me it's standard for all customers. But when another fren requested quote from her, the disbursement fees are different from mine too. So what is called standard?
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there is no standard biggrin.gif
btw, your fren requested for the exact same quote?
every little thing actually affect the legal fees

QUOTE(johnsonm @ Sep 24 2008, 04:33 PM)
lprincess, dont go to the preferred panel. they are not giving you a discount because they have to give the loan officer who recommended the case a cut of the fees. why dont you do your own research, call up a few firms and find out of they are on the panel for the bank - if they are, ask for a quote.

that is the best advice i can give you.
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MYTH?
Why don't i freaking get a cut from my bank panels' .....
Only if i personally refer the customer over, i get a little token of appreciation ... otherwise, i don't think i am getting anything.


 

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