Frequently asked questions
Cost
► Q1. Do I need to pay tax on my purchase?
Q1. Do I need to pay tax on my purchase?
You have to pay stamp duty on the document of transfer calculated as follows:
• 1% of capital value on the first RM100,000;
• 2% of capital value on any amount in excess of RM100,000 but not exceeding RM500,000;
• 3% of capital value on any amount in excess of RM500,000.
► Q2. What are the other disbursements that I will incur?
Q2. What are the other disbursements that I will incur?
Stamp duty on your loan documentation, land search fees, bankruptcy/winding-up search fees, land office registration fees, transport, photocopying and stationery charges, etc.
► Q3. How much are my legal fees?
Q3. How much are my legal fees?
Your solicitor's fees are set out under the Solicitors' Remuneration Order 2006.
| |
Consideration or adjudicated value |
Scale fees |
| |
For the first RM150,000 |
1.0% (subject to a minimum fee of RM300) |
| |
For the next RM850,000 |
0.7% |
| |
For the next RM2,000,000 |
0.6% |
| |
For the next RM2,000,000 |
0.5% |
| |
For the next RM2,500,000 |
0.4% |
| |
Where the consideration or adjudicated value is in excess of RM7,500,000 |
Negotiable on the excess (but shall not exceed 0.4% of such excess) |
| |
*The above fees are subject to 5% government tax. Note that the Order stipulates that no discount shall be given on such fees. |
|
