Friday, April 23, 2010

Cost of Selling Property Charged by Seller’s Lawyer in Malaysia 2010

How much is the seller’s lawyer charges for selling a property in Malaysia? It’s important for seller to know about all the charges in order to calculate the cost of selling property precisely.
For easier understanding, I have requested an quotation from my lawyer on the legal fees and other charges of selling a condominium in PJ, freehold, bought direct from property developer, selling price at RM380,000, master title, and etc.. Example:
Legal Fees
(According to the Solicitors’ Remuneration Order 2006)
To our professional charges in the preparation of the Sale and Purchase Agreement, in taking your instructions in respect of the said matter, to all attendances, consultations, correspondences and miscellaneous work incidental thereto (Purchase Price of RM380,000)
1% for the first RM150,000 – [RM1,500]
0.7% for the next RM230,000 – [RM1,610]
Deed of Receipt and Reassignment – [RM400]
CKHT 1A per Vendor – [RM300]
5% Service Tax – [RM190.50]

Stamping of Receipt and Reassignment, RM10 @4 copies – [RM40]
Purchase of Deed of Receipt & Reassignment from CIMB – [RM200]
Registration of Receipt and Reassignment at the High Court of Malaya – [RM80]
Traveling (inclusive of trips to and from Stamp Office for stamping of documents, etc. and all hand deliveries to and from Developer’s Office and Financier for redemption process, Lembaga Hasil Dalam Negeri and Commissioner for Oaths and all hand deliveries and collection from third parties to expedite matters – [RM200]
Stationery and Printing – [RM100]
Facsimile, Telephone, Courier, Postage – [RM100]

Total: RM4,720.50
Discount: RM933.00
Net Total: RM3,787.50
I hope this costing example may help first time home seller here to have better and clearer picture on the charges from your lawyer when you are going to sell your house in future.


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