Legal Fees:
(Fees payable to the lawyer you appointed who will prepare Sale & Purchase Agreement (SPA) between purchaser and vendor)
Purchase Price (MYR) | Fees (% from purchase price) | Legal Fees |
---|---|---|
First MYR 150,000 | 1.00 % (minimum MYR 300) | MYR 300 – MYR 1,500 |
Next MYR 850,000 | 0.70 % | MYR 1,501 – MYR 7,450 |
Next MYR 2,000,000 | 0.60 % | MYR 7,451 – MYR 19,450 |
Next MYR 2,000,000 | 0.50 % | MYR 19,451 – MYR 29,450 |
Next MYR 2,500,000 | 0.40 % | MYR 29,451 – MYR 39,450 |
Exceed MYR 7,500,000 | Negotiable (Maximum 0.40 %) | From MYR 39,450 |
For example
If the property price is MYR 550,000, the calculation is:
First MYR 150,000 (1.00 %) | MYR 1,500 |
Next MYR 400,000 (0.70 %) | MYR 2,800 |
Total Legal Fee | MYR 4,300 |
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If the property price is MYR 10,500,000, the rate above MYR 7,500,000 is negotiable between the law firm and the client. If say the negotiated rate is 0.2%, the calculation is:
First MYR 150,000 (1.00 %) | MYR 1,500 |
Next MYR 850,000 (0.70 %) | MYR 5,950 |
Next MYR 2,000,000 (0.60 %) | MYR 12,000 |
Next MYR 2,000,000 (0.50 %) | MYR 10,000 |
Next MYR 2,500,000 (0.40 %) | MYR 10,000 |
Next MYR 3,000,000 (0.20 % Negotiated Rate) | MYR 6,000 |
Total Legal Fee | MYR 45,450 |
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Stamp Duty:
(Charges which also known as Memorandum Of Transfer (MOT) is payable to the government)
Purchase Price (MYR) | Fees (% from purchase price) | Stamp Duty |
---|---|---|
First MYR 100,000 | 1.00 % | MYR 0 - MYR 1,000 |
Next MYR 400,000 | 2.00 % | MYR 1,001 - MYR 9,000 |
Exceed MYR 500,000 | 3.00% | From MYR 9,001 |
For example
If the property price is MYR 550,000, the calculation is:
First MYR 100,000 (1.00 %) | MYR 1,000 |
Next MYR 400,000 (2.00 %) | MYR 8,000 |
Next MYR 50,000 (3.00 %) | MYR 1,500 |
Total Stamp Duty | MYR 10,500 |
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On top of that, there are 6% government tax (SST).
Also charges for disbursement cost, which covers the following:
- Stamping of SPA
- Bankruptcy/ Winding up search
- Company search (if applicable)
- Land search
- Registration of Transfer at Land Office
- Affirmation on the Statutory Declaration
- Stamping on the Statutory Declaration
- Transportation
- Printing/ Facsimile/ Telephone/ Photocopy charges
- Miscellaneous charges
Online Legal Fees, Stamp Duty & Home Loan Calculator
Malaysia’s Budget 2017: A quick take on Loan and Stamp Duty
- Stamp duty exemption doubled to 100% on instruments of transfer and housing loan instruments to help reduce the cost of first home ownership. Exemption limited to houses valued up to RM300,000 for the period of 1st January 2017 to 31 December 2018.
- The rate of stamp duty on instruments of transfer of real estate worth more than RM1 million up from 3% to 4% effective 1st January 2018.