| Legal fees payable for house purchase |
|
Acquisition costs - Legal Fees (SPA)
For the schedule G and Schedule H contract under HDA, the applicable rates are as follows:
|
|
| Purchase price |
Fees |
| Less than or equivalent of RM45000 |
RM250 |
| From RM45000 to RM100000 |
75% of Scale Fees |
| From RM100000 to RM500000 |
70% of Scale Fees |
| More than RM500000 |
65% of Scale Fees |
|
|
Acquisition costs - Legal Fees (Loan Documentation)
Solicitors Remuneration Order 2005 (effective 1 Jan 2006):
|
|
| Loan Amount |
Scale Fees on Principal Instrument |
| For the first RM150000 |
1.00% (min RM300) |
| For the next RM850000 |
0.70% |
| For the next RM2000000 |
0.60% |
| For the next RM2000000 |
0.50% |
| For the next RM2500000 |
0.40% |
| Where the consideration/ adjudicated value whichever is the higher is in excess of RM7500000 |
Negotiable on the excess but shall not exceed 0.40% |
|
|
Acquisition Costs - Legal fees (Loan Documentation)
For the financing of Schedule G & Schedule H contract under HDA the applicable rates are as follows:
|
|
| Purchase price / Loan Sum |
Fees |
| Less than or equivalent of RM45000 |
RM250 |
| From RM45000 to RM100000 |
75% of Scale fees |
| From RM100000 to RM500000 |
70% of Scale Fees |
| More than RM500000 |
65% of Scale Fees |
|
|
Acquisition Costs - Stamp Duty (Loan Documentation)
Stamp Act 1949:
Generally, the principle instrument is to be stamped at a rate of RM5 for each RM1000 or any part thereof based on the loan amount
For example
Loan Amount: 90% of RM388000 Purchase price = RM349200
Stamp Duty = RM1750 (there is a RM5 for the last RM200)
|
