How to Calculate your Property Lawyers Fee?

One major fee that you need to bare other than the 10% downpayment, is the legal fee. It involve some amount depending on the price of the property that you are buying.

Here is the calculation below:

Source

 As an example, if you are buying a RM500,000 property, how much lawyer’s fee would you have to pay? Look at the calculation below:

First RM150,000 x 1% = RM1,500

Remaining RM350,000 x 0.7% = RM2,450

Total: RM3,950

Then, you plus all the other fees as stated.

Now, are all lawyer firms the same? Let me tell you seriously, answer is NO. The lawyer will not make you fail in buying the house but they may not follow up closely enough and you ended up waiting one extra month if not more. Thus, it will be wise to ask your close agent friends on which lawyers are good. Alternatively, ask your banker friends. Once you found a good lawyer, stick to them.

Remember this is a NO discount fee...