The cost of selling a property in Malaysia

original link
If you were to buy a property for investment, you should be well aware of the cost involved in buying the property, as well as the cost to sell it later.

The typical cost of selling the property consists of:
1. Advertisement fee to look for buyer (if any).

2. Agent fee (if you engage property agent to help you to sell your house): 3% of selling price. There is a 6% government tax on this agent fee too.

3. Lawyer fee for Sales and Purchase Agreement
(calculated based on the property's selling price, if you engage a lawyer on your behalf. You can save on this if you use the buyer's lawyer. Lawyer can only on one-side, so if you use your buyer's lawyer, the lawyer is only helping you to fill in & submit forms. You also need to pay for the cost):

First RM150k = 1% (or minimum RM300, whichever higher)
Subsequent up to RM1 million = 0.7%
Subsequent up to RM3 million = 0.6%
Subsequent up to RM5 million = 0.5%
Subsequent up to RM7.5 million = 0.4%
Above RM7.5 million = negotiable

4. 6% government tax on total lawyer fee

5. Deed of Receipt & Reassignment, Revocation of Power of Attorney, Letter of Undertaking, Statutory Declaration, etc. = a few hundreds                    

6. Miscellaneous legal fee (disbursement charges such as transportation costs, searching cost etc) = at least a few hundreds

7. Submission of CKHT 1A form per seller = RM300 (RM600 if the house is jointly owned by 2 owners)

8. Real Property Gain Tax = payable to LHDN.
For 2015 (individual RPGT)
below 3 years = 30%
4 years = 20%
5 years = 15%
after 5 years no RPGT
You may also request for once in a lifetime waiver

9. Penalty payable for early mortgage settlement (if still within lock-in period) = depends on the loan agreement

Besides, you can get back some surrender value (partial refund on premium paid) from the following (if applicable):
Mortgage Reducing Term Assurance (MRTA)
Fire insurance

The cost of buying and owning a property in Malaysia

original link

The property market in Malaysia has gained quite a lot of interest, especially over the past 3 years when the mortgage loan interest dipped to historical low.

If you were to buy a property for own stay or for investment, you should be well prepared for the cost involved.

The typical cost consists of:

A. One time cost

1. The booking fee, down payment and subsequent unfinanced payment of the property (normally about 10%-20% of the property price)

2. Lawyer fee for Sales and Purchase Agreement (calculated based on the property price):
First RM150k = 1% (or minimum RM300, whichever higher)
Subsequent up to RM1 million = 0.7%
Subsequent up to RM3 million = 0.6%
Subsequent up to RM5 million = 0.5%
Subsequent up to RM7.5 million = 0.4%
Above RM7.5 million = negotiable
3. Miscellaneous fee for preparation of Sales and Purchase Agreement = at least a few hundreds

4. 6% government tax on total lawyer fee for Sales and Purchase Agreement

5. Stamp Duty of Sales and Purchase Agreement (calculated based on the property price):
First RM100k = 1%
Subsequent up to RM500k = 2%
Subsequently onwards = 3%
6. Lawyer fee for Loan Facility Agreement (calculated based on mortgaged amount):
First RM150k = 1% (or minimum RM300, whichever higher)
Subsequent up to RM1 million = 0.7%
Subsequent up to RM3 million = 0.6%
Subsequent up to RM5 million = 0.5%
Subsequent up to RM7.5 million = 0.4%
Above RM7.5 million = negotiable
7. Stamp Duty of Loan Facility Agreement (calculated based on mortgaged amount) = 0.5%

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

9. 6% government tax on total lawyer fee for Loan Facility Agreement

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

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

13. Mortgage Reducing Term Assurance (MRTA, optional) = a few thousands

14. Deposit for water and electricity = at least a few hundreds

15. Deposit for telephone, Internet service, satellite/cable TV (optional) = at least a few hundreds

16. Renovation and moving cost = depends on you, easily more than RM10k

B. Recurring cost

1. Quit rent (yearly) = around RM50

2. Assessment tax (yearly) = a few hundreds

3. Fire insurance (yearly) = a few hundreds

4. Mortgage Level Term Assurance (MLTA, yearly, optional) = a few thousands

5. Housing loan repayment (monthly) = at least a few hundreds

6. Severage treatment fee (half yearly) = RM48

7. Water, electricity, telephone, Internet, satellite/cable TV, etc. = depends on usage

8. Cooking gas = depends on usage

9. Security fee (for gated & guarded community or apartment/condominium) = depends

10. Maintenance fee and sinking fund (for apartment/condominium) = depends

11. Car park rental (optional for certain apartment/condominium) = depends

12. Pest and termite control service (yearly, optional) = at least a few hundreds

Property Service : Malaysians living Abroad

Good news for Malaysians Working Overseas.....

• want to know recent property hot news in Malaysia?
• new development near MRT & LRT extension. KL City Center
• want to book new property? want to buy property? 
• you need someone to book property for you
• you need someone to send documents to lawyer and bank
• you need advise
• want someone to manage your property in Malaysia? 
• to sell property
• to let and manage tenant

Contact : Omar for more info!