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Everyone would like to buy a property, either for own stay or for an investment. However, do you know that on top of the property price, you have to pay a substantial amount of money for legal or lawyer fees and stamp duty?
Legal fees is payable to the appointed lawyer who will prepare Sale & Purchase Agreement between purchaser and vendor. On other hand, Stamp Duty which also known as Memorandum Of Transfer (MOT) is payable to the government & collected by Lawyer on behalf of the government.
Below is the details on how to calculate Legal Fees & Stamp Duty or else you may use online Legal Fees & Stamp Duty calculator.
1. Legal or Lawyer Fees.
| Purchase Price (RM) | Fees (% from purchase price) | Legal Fees |
|---|---|---|
| First 150k | 1% (minimum RM300) | RM300 – RM1,500 |
| Next 850k | 0.70% | RM1,501 – RM7,450 |
| Next 2M | 0.60% | RM7,451 – RM19,450 |
| Next 2M | 0.50% | RM19451 – RM29450 |
| Next 2.5M | 0.40% | RM29,451 – RM39,450 |
| Exceed 7.5M | Negotiable (maximum 0.40%) | from RM39,450 |
On top of that, there are 5% government tax and approximately between RM500 to RM1,000 disbursement cost.
Disbursement cost covers the following,
- Stamping of SPA (RM10 per copy x 4)
- Bankruptcy/ Winding up search
- Company search (if applicable)
- Land search (before preparation of the SPA & prior to the filing of the Form 14A at the Land Office)
- Registration of Transfer at Land Office
- Affirmation on the Statutory Declaration to request for the 50% waiver on the stamp duty on the transfer/ on the assignment.
- Stamping on the Statutory Declaration to request for the 50% waiver on the stamp duty on the transfer/ on the assignment
- Transportation
- Printing/ Facsimile/ Telephone/ Photocopy charges
- Miscellaneous charges
2. Stamp Duty or Memorandum Of Transfer (MOT)
| Purchase Price (RM) | Fees (% from purchase price) | Stamp Duty |
|---|---|---|
| First 100k | 1% | RM0 – RM1,000 |
| Next 400k | 2% | RM1,001 – RM9,000 |
| Exceed 500k | 3% | from RM9,000 |
Alternatively, you may use online Legal Fees & Stamp Duty calculator to calculate automatically.
{ 7 comments… read them below or add one }
how about common/general fee charged for Personal Loan?
Hi,
May i know can i doit myself the MOT instead of paying the runner(lawyer) to just transfer the tittle? Thanks
//Juan
Can i know if it is calculated based on purchased price or current market value?
based on purchase price
Can you recommend lawyer firm which take fee same as your MOT calculator? I bought an auction house for Rm130000.
Could you assist with guidelines for buying auction property cash….. Am just wondering whether anyone could actually settle the transfer title process without hiring a lawyer ??
If you are buying a house either cash or loan, the procedure is similar except that you don’t to request for loan. For auction property, you have to prepare sufficient money in form of bank draft for the bidding.
I’m not sure if we are allow to do title transfer without hiring a lawyer, but if it is allowed, I still prefer lawyer to do that to avoid a lot of hassle & they know what to do it properly.