Before we make any purchase or put down our booking deposit, it is wise to firstly enquire from the developer side, if they are absorbing the SPA Legal Fee, MOT Stamp Duty, Loan Agreement Fee, Loan Stamp Duty and etc; or you are the one who will bear all the costs.
If you are buying from the secondary market / sub-sale, then you have to bear all those charges. So, please always remember to do some calculations before finalizing your buying decisions.
Let me give you some general guidelines on how does all the costing works. To be exact, always consult your representative lawyers, please see the below break downs:-
Sale & Purchase Fee (A+B+C)
A) Legal Fee:
First 150k = 1% (minimum fee of RM300)
Next 850k = 0.7%
Next 2M = 0.6%
Next 2M = 0.5%
Next 2.5M = 0.4%
Excess 7.5M = Negotiable (not exceeding 0.4%)
B) Stamp Duty
First 100k = 1% of the value
Next 400k = 2% of the value
Remainder = 3% of the value
(First time buyer + property value less than 400k = enjoy 50% discount on stamp duty)
C) Disbursement Fees: Usually range from RM800 – RM1500
Loan Agreement Fee (A+B+C)
A) Legal Fee
First 150k = 1% (minimum fee of RM300)
Next 850k = 0.7%
Next 2M = 0.6%
Next 2M = 0.5%
Next 2.5M = 0.4%
Excess 7.5M = Negotiable (not exceeding 0.4%)
B) Stamp Duty – 0.5% of the value
C) Disbursement Fees: Usually range from RM800 – RM1500
Below is a piece of useful infographic brought to you by www.iMoney.my, a price comparison website dedicated to helping Malaysians make the best use of their money. Let’s take a look:-
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