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Legal Fees
The remuneration of the solicitor is governed by the First Schedule to the Solicitors¡¯ Remuneration Order 2005 (which only applies to transactions from the 1st January, 2006 onwards) and this remuneration applies whether the solicitor is acting for the vendor, purchaser, transferor or transferee.
| Consideration or Adjudicated value |
Scale of Fees |
| For the first RM150,000 |
1.0% (subject to 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 |
Notwithstanding the above rates, for transactions governed by the Housing Development (Control and Licensing) Act 1966 or any subsidiary legislation made under that Act (eg. where you buy a house from a developer rather than a sub-sale), the remuneration of the solicitor having the conduct of and completing the transaction shall be as follows:-
| a) |
|
RM250, if the consideration is RM45,000 or below; |
| b) |
|
75% of the applicable scale fee prescribed, if the consideration is in excess of RM45,000 but not more than RM100,000; |
| c) |
|
70% of the applicable scale fee specified, if the consideration is in excess of RM100,000 but not more than RM500,000; or |
| d) |
|
65% of the applicable scale fee specified, if the consideration is in excess of RM500,000 |
SALES & PURCHASE AGREEMENT
All Developers must use the Statutory Sale and Purchase Agreements for the sale of their properties as follows:-
Schedule G
For purchase of landed properties ¨C individual titles (eg. terrace houses, semi-detached and bungalows)
Schedule H
For purchase of high-rise and subdivided properties strata titles ( eg. flats, apartments, condominiums, townhouses)
Below is a simple chart on the process from the execution of Sale & Purchase Agreement (SPA) to Loan Drawdown:-
Further details can be referred to:
Malaysian Bar Council
No. 13, 15 & 17
Leboh Pasar Besar
50050 Kuala Lumpur, Malaysia
Tel: +603-20313003
Fax: +603-20261313
Email: council@malaysianbar.org.my
For more information, visit the Malaysian Bar Council
Note: Information provided has been extracted from the principal site. For the latest and updated information, please visit the link provided.
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