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LEGAL FEE FOR SALE AND PURCHASE AGREEMENT

Written by LYLu&Co | June 12, 2015

LEGAL FEE FOR SALE AND PURCHASE AGREEMENT

The Legal Fees* for a Sale & Purchase Agreement is calculated based on Solicitors’ Remuneration Order 2005. The scale fees are as follow:

Consideration or Adjudicated Value** Scale of 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 RM 7,500,000 Negotiable on the excess
(but shall not exceed 0.4% of such excess)

(Note: *The above legal fee calculated are exclusive of 6% Government Service Tax, ad valorem stamp duty payable for the transfer of property and other disbursements such as title search fee, land registry registration fee and etc.

** Consideration means the purchase price of the property stated in the sale and purchase agreement whereas adjudicated value is the market value of the property determined and assessed by Lembaga Hasil Dalam Negeri)

 

STAMP DUTY FOR SALE AND PURCHASE AGREEMENT

 

In addition to Legal Fee, a buyer will also need to pay ad valorem stamp duty on the property transfer:

 

Consideration or Adjudicated Value Scale of Fees
First RM100,000 1%
Next RM400,000 2%
Thereafter 3%

 

You are advised to seek consultation with a Malaysia Law Firm. For further information you may visit this page or email us consult@lylu.com.my

For consultation on real estate law in Malaysia, please proceed to send in your enquiry by clicking here.

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