Cost of Buying a House - SPA & Loan Legal Fees

COST of BUYING A HOUSE
PART A: SPA Lawyer Fees & Loan Facility Agreement Legal Fees

Sales & Purchase Agreement (SPA)
1. Lawyer fee for Sales and Purchase Agreement (calculated based on the SPA Property Price):

- For the first RM 150,000, the legal fees payable is 1%

- For the next RM 850,000, the legal fees payable is 0.7%

- For the next RM 2,000,000, the legal fees payable is 0.6%

- For the next RM 2,000,000, the legal fees payable is 0.5%

- For the next RM 2,500,000, the legal fees payable is 0.4%

- For the remaining, if any, negotiable

2. Miscellaneous fee for preparation of Sales and Purchase Agreement = at least a few hundreds

3. 6% government tax on total lawyer fee for Sales and Purchase Agreement

4. Stamp Duty of Sales and Purchase Agreement (calculated based on SPA property price):
First RM100k = 1%
Subsequent up to RM500k = 2%
Subsequently onwards = 3%

Loan Facility Agreement
5. Lawyer fee for Loan Facility Agreement (calculated based on mortgaged amount):

- For the first RM 150,000, the legal fees payable is 1%

- For the next RM 850,000, the legal fees payable is 0.7%

- For the next RM 2,000,000, the legal fees payable is 0.6%

- For the next RM 2,000,000, the legal fees payable is 0.5%

- For the next RM 2,500,000, the legal fees payable is 0.4%

- For the remaining, if any, negotiable

6. Stamp Duty of Loan Facility Agreement (calculated based on mortgaged amount) = 0.5%

7. Miscellaneous fee for preparation of Loan Facility Agreement = at least a few hundreds

8. 6% government tax on total lawyer fee for Loan Facility Agreement

(note: you can include Loan Facility Agreement fees into your bank loan. So you can save your cash for house renovation!)

Others
9. Land/Strata Ownership Title Transfer = at least a few hundreds + 6% government tax on legal fee

10. Stamp Duty of Land/Strata Ownership Title Transfer (calculated based on the property price):
First RM100k = RM1 for every RM100 or fractional part of RM100
Subsequent up to RM500k = RM2 for every RM100 or fractional part of RM100
Above RM500k = RM3 for every RM100 or fractional part of RM100

11. Consent to Charge (for leasehold property) = at least a few hundreds + 6% government tax on legal fee