Iskandarliving Forums • <!-- IF S_IN_MCP -->Moderator Control Panel • <!-- ELSEIF S_IN_UCP -->{ UCP } • <!-- ENDIF -->View topic - Question on Lawyer Fees & Loan Agreement Fees

Question on Lawyer Fees & Loan Agreement Fees

Credit Card; Deposits for Subsale; Drafting a Will; Insurance; Loans; Opening of Bank Account; Procedure for Buying from Subsale; Procedure for buying from Developer; Remittances; Taxes;

Question on Lawyer Fees & Loan Agreement Fees

Postby plim » Tue Aug 05, 2014 2:09 pm

Am a first time purchased home (resale).
The quotation for Legal fees that received from lawyer that appointed by our agent not sure is normal or expensive. Total cost is RM 21k to purchase a RM385k house.

Received 2 difference quotation (1 for Lawyer Legal Fees, 1 for Bank Loan Agreement). Few services are same & charge me twice.

1) Professional Charges Statutory Declaration (100 each quotation)
2) Stamping & Affirming of Statutory Declaration (50 - legal fee quotation, 80 - bank loan agreement)
3) Professional Charges of Entry/Withdrawal of Private Caveat (350 each quotation)
4) Registration fee - Entry Private Caveat (150 each quotation)
5) Registration fee - Withdrawal Private Caveat (60 each quotation)
6) Bankruptcy searches (50 - legal fee quotation, 100 - bank loan agreement)
7) Land and caveat searches (160 - legal fee quotation, 180 - bank loan agreement)
8) Transport & Courier Charges (250 each quotation)
9) Printing, photocopying & telephone, facsimile, postage & other (150 each quotation)
10) Misc charges (50 each quotation)
11) Administration Fees for Loan Documentation (250)

Need yours advise is normal procedure to pay 2 times for the same service? Is the legal fee for RM21k too expensive to purchase RM385k house? Thanks.

Cheers,
Lim
plim
Newbie
 
Posts: 3
Joined: Tue Jul 22, 2014 4:20 pm

Re: Question on Lawyer Fees & Loan Agreement Fees

Postby FHBH » Tue Aug 05, 2014 8:30 pm

One for house n one for bank. Total is ard there but your quotes r a little on e high side.
FHBH
Asst Administrator
 
Posts: 2663
Joined: Sat Jun 16, 2012 9:11 pm

Re: Question on Lawyer Fees & Loan Agreement Fees

Postby plim » Tue Aug 05, 2014 11:53 pm

Hi FHBH,

Normally around how much is the total cost for RM385K house? Is it standard practice to charge twice for the same service using same lawyer?
Let me know if you have any lawyer to recommend. Thanks.
plim
Newbie
 
Posts: 3
Joined: Tue Jul 22, 2014 4:20 pm

Re: Question on Lawyer Fees & Loan Agreement Fees

Postby FHBH » Wed Aug 06, 2014 7:49 am

The biggest component was e state levy just over $10k. Plus other legal fees n taxes worked out to abt $18k+ for my $700k Bestari Heights. Factoring in loan legal fees was prob ard $20k+. Since yours is only $385k, it shd be cheaper than mine. I think ard $20k is more acceptable. Fees for loan n e house r separately charged but if same legal firm is used it shd be negotiable.

I used this firm for my other house:
http://www.malaysianbar.org.my/legaldir ... p?fid=4517
FHBH
Asst Administrator
 
Posts: 2663
Joined: Sat Jun 16, 2012 9:11 pm

Re: Question on Lawyer Fees & Loan Agreement Fees

Postby Odyssey » Thu Aug 07, 2014 7:45 am

Hi PLIM,

U may want to refer to:

viewtopic.php?f=21&t=1277&p=9058#p9058
Odyssey
Past Asst Administrator
 
Posts: 693
Joined: Fri Dec 16, 2011 1:13 pm


Return to Financial Matters

Who is online

Users browsing this forum: No registered users and 1 guest

cron