| CALCULATION METHOD (LEGAL FEES) |
The Legal Fee Calculator for a standard Sale & Purchase Agreement is 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) |
|
For example:
| If the property price is RM550,000, the calculation is: |
|---|
| First RM150,000 @ 1% | RM1,500 |
| Next RM400,000 @ 0.7% | RM2,800 |
| Total Legal Fee | RM4,300 |
| If the property price is RM10.5 million, the rate above RM7.5 million is negotiable between the law firm and the client. If say the negotiated rate is 0.2%, the calculation is: |
|---|
| First RM150,000 @ 1% | RM1,500 |
| Next RM850,000 @ 0.7% | RM5,950 |
| Next RM2,000,000 @ 0.6% | RM12,000 |
| Next RM2,000,000 @ 0.5% | RM10,000 |
| Next RM2,500,000 @ 0.4% | RM10,000 |
| Next RM3,000,000 @ 0.2% (negotiated rate) | RM6,000 |
| Total Legal Fee | RM45,450 |
|
STAMP DUTY
In addition to Legal Fees, 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% |
|
For example:
| If the property price is RM550,000, the calculation is: |
|---|
| First RM100,000 @ 1% | RM1,000 |
| Next RM400,000 @ 2% | RM8,000 |
| Next RM50,000 @ 3% | RM1,500 |
| Total Legal Fee | RM10,500 |
|
