Cost calculation

(1) Lawyer fee (sale contract)

First RM 150,000 = 1.0% (minimum cost RM 300)

Next RM 850,000 = 0.7%

Next RM 2,000,000 = 0.6%

Next RM 2,000,000 = 0.5%

Next RM 2,500,000 = 0.4%

More than RM 7,500,000 = negotiable (not more than 0.4%)

(2) Stamp Duty (contract of sale)

First RM 100,000 = 1%

Next RM 400,000 = 2%

Over RM 500,000 = 3%

Over RM1,000,000 = 4%

(3) Loan Agreement

The cost of a loan contract is calculated based on the amount of the loan

Attorney fees (loan contract)

First RM 150,000 = 1.0% (minimum cost RM 300)

Next RM 850,000 = 0.7%

Next RM 2,000,000 = 0.6%

Next RM 2,000,000 = 0.5%

Next RM 2,500,000 = 0.4%

More than RM 7,500,000 = negotiable (not more than 0.4%)

(4) Stamp Duty (loan contract)

(1) Attorney fees:

Example price: RM 1,026,000

First RM 150,000 x 1% = RM 1500

Next RM 850,000 x 0.7% = RM 5950

RM 26,000 x 0.6% = RM 156

Equal to: = RM 7606

Remarks: * The correct amount is mainly based on the letter from the law firm

(2) Stamp duty:

Taxes to be paid upon tiered deeds

Example price: RM1,026,000

First RM100,000 x 1% = RM 1,000

Next RM100,001 ~ 500,000x 2% = RM8,000

500,001 ~ 1,000,000 x 3% = RM 15,000

1,000,001 or more x4% = 1,040

Equals: = RM 25,040

Remarks:

1. This tax is payable after the developer's hierarchical deed is issued (referred to as MOT = Memorandum of Transfer, which is the stamp tax for real estate transfer, this fee must be paid to the government's tax)

2. If the property is sold before obtained the strata title , there is no need to pay MOT.

3. If you buy a property which already has a title deed, you need to pay MOT within one month.

4. After the strata title is released, the owner of the house must complete the transfer procedures. The owner need to transfer it from the developer to his name.
After buying a property, the fees will incur are house tax, land lease tax, property service fee, garbage disposal fee, etc.

(1) Assessment: Pay once every six months, usually MYR 1,000-2,000

(2) Quit Rent: Pay once a year

Developer's total lease is approximately RM0.06 per square foot (payable annually before 2/28) Example: 1013 sf X RM0.06 = RM 60.78

(3) Management fee

(4) Garbage cleaning fees is a small amount which is similar with China

(5) Other expenses: Building management fee, reserve maintenance fund, fire insurance, lease agency fee, rent personal income tax, etc. Specific taxes and fees are subject to the government's policies at the time of collection, without notice.