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Scudai's Property Buyer Guide
Post Date : 2014-08-28
Source : http://www.iproperty.com.my/resources/property-purchase-process.aspx

Purchasing your own property is generally an exciting time. However, it could prove to be a daunting affair as there are likely to be many questions in your mind. Here, we try to help you out with a simplified but important step-by-step guide towards your property purchase.

Legal Fees: Additional information on fees that you should take note of are as follows: 
Property value Rate Rate
First RM150,000 1%
Next RM850,000 0.7%
Next RM2 million 0.6%
Next RM2 million 0.5%
Next RM2.5 million 0.4%
Over RM7.5 million Negotiable, but not exceeding 0.4%
On top of that, there is a 5% government tax and approximately RM500 to RM1,000 disbursement cost. The disbursement cost covers the following:
• Stamping of Sales's Purchase Agreement (RM10 per copy x 4)
• Bankruptcy / Winding up search
• Company search (if applicable)
• Land search (before preparation of the SPA & prior to the filing of the Form 14A at the Land Office)
• Registration of Transfer at Land Office
• Affirmation on the Statutory Declaration to request for the 50% waiver on the stamp duty on the transfer/ on
• the assignment.
• Stamping on the Statutory Declaration to request for the 50% waiver on the stamp duty on the transfer/ on the assignment Transportation
• Printing / facsimile / telephone / photocopy charges
• Miscellaneous charges

 

Source : http://www.iproperty.com.my/resources/property-purchase-process.aspx

 
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