It doesnt seem out of place though....What's your purchase price? Dont think they have included the stamp duty for the S&P in this quote.....It's only stamp duties for the loan. Or is your S&P stamp duty absorbed by the developer? I thought Citibank has free legal fees program now?
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Legal issues/questions - Anything to do with lawyers and banks
- Thread starter wuqi256
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It doesnt seem out of place though....What's your purchase price? Dont think they have included the stamp duty for the S&P in this quote.....It's only stamp duties for the loan. Or is your S&P stamp duty absorbed by the developer? I thought Citibank has free legal fees program now?
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My purchase price is RM700,000, subsale. So other spa fees not included here and sad to say only absorbed by me. This is just for loan agreement.
I read in the JB chinese forum that Citibank is offering free legal fees for loan taken with them. Perhaps you can consider that? Oh btw the legal fees seem to be about there...
https://www.citibank.com.my/english/promo/hl-cashback/index.html?ecid=AF_HL_SC_q2cbfqphfqM_030513
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Too late liao. Already signed letter of offer with stanchart.
Legal fee is 1% on 1st 150k & 0.7% on next 850k. So your facility agreement should be 4.5k. Would suggest you nego for 50-65% scale fee, i.e., get down to ~2.3-2.9k. Then add legal charge of ~10% & 6% government tax => 2.7-3.4k.
Stamp Duty is flat 0.5% on loan amount => 2.9k. Not sure why they charge you less.
Reg fee seems high. I paid only RM90.
I paid RM120 for M'sia Bankruptcy search....so I guess RM360 is OK for S'pore Search.
Just my 2-cent. Let me know if it works.
Stamp Duty is flat 0.5% on loan amount => 2.9k. Not sure why they charge you less.
Reg fee seems high. I paid only RM90.
I paid RM120 for M'sia Bankruptcy search....so I guess RM360 is OK for S'pore Search.
Just my 2-cent. Let me know if it works.
But should his legal fees be based on his S&P sale price (RM 700K) or on loan amt (RM585K)? Not v clear if he paid legal fees on S&P.....
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There are 2 legal fees :
1. On S&P - Use S&P selling price to calc
2. On Loan - Use loan amount
Both use the same schedule/scale.
Now there are also stamp duty:
1. On S&P - Use S&P selling price or valuation price, whichever higher
2. On Loan - Use loan amount
Both are 0.5%.
1. On S&P - Use S&P selling price to calc
2. On Loan - Use loan amount
Both use the same schedule/scale.
Now there are also stamp duty:
1. On S&P - Use S&P selling price or valuation price, whichever higher
2. On Loan - Use loan amount
Both are 0.5%.
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SG GST 7% higher or Malaysia legal fees (@ least u get to see chio bo lawyer maybe)?
If can see chio bu lawyer, I really dun mind. an intelligent mind is a sexy asset.
And to answer your question, Malaysia legal fees higher than SG GST.
And to answer your question, Malaysia legal fees higher than SG GST.
SG GST 7% higher or Malaysia legal fees (@ least u get to see chio bo lawyer maybe)?
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not turn me. it's Turn Me On!!! you left out the "on". no point just turning me. must turn me "ON"
hi ts, your pm full liao. anyway i have some questions , hope u can advise. i am from singapore, wanna check with you on the following
1) if i wanna buy property in malaysia using company account, is it possible?
2) also can advise how can foreinger setup a company in malaysia? is malaysian partner still needed?
3) can singaporean easily open bank acccount in malaysia?
please advise, thank u.
1) if i wanna buy property in malaysia using company account, is it possible?
2) also can advise how can foreinger setup a company in malaysia? is malaysian partner still needed?
3) can singaporean easily open bank acccount in malaysia?
please advise, thank u.
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Dear all,
I would like to state my disappointment with OCBC. They have lost my siblings loan agreement previously. Then another friend who i recommended to OCBC.
I never got anything financially and had to face the music on their behalf and now even my own loan documents and S&P, OCBC only reported lost months after they were supposed to be receiving it. I will be writing to them to lodge a formal complaint but just to share my own unfortunate experience as they only owned up to it within 1 week of a purchase expiring. Well done OCBC, truly i hope you are proud of yourselves.
Once or twice i can understand but 3 strikes losing entire sets of documents and forcing people to redo everything or lose their purchase is simply fascinating.
I would like to state my disappointment with OCBC. They have lost my siblings loan agreement previously. Then another friend who i recommended to OCBC.
I never got anything financially and had to face the music on their behalf and now even my own loan documents and S&P, OCBC only reported lost months after they were supposed to be receiving it. I will be writing to them to lodge a formal complaint but just to share my own unfortunate experience as they only owned up to it within 1 week of a purchase expiring. Well done OCBC, truly i hope you are proud of yourselves.
Once or twice i can understand but 3 strikes losing entire sets of documents and forcing people to redo everything or lose their purchase is simply fascinating.
hi all,
understand that there are:
- legal fees for S&P: 1% for first RM150,000 and 0.7% of remaining value of loan within RM1 million
- stamp duty for S&P: does this only refer to stamp duty for MOT???
which is 1% for the first RM100,000; 2% on the next RM400,000, and 3% on the subsequent amount.
or there's separate stamp duty for S&P which is NOT equal to stamp duty for MOT? according to this article
http://www.iproperty.com.my/financing/guides.aspx
stamp duty for S&P (NOT equal to stamp duty for MOT) = 1% for 1st 100K and 0.5% for next 4.9M
Please advise..
Oh.. I also have to signed the legal document twice because of OCBC. So it could be losing of loan document..
just sharing.
after heeding the advice of fellow forummers here, I decided to remit money to my lawyer using a SG money changer. one week later, lawyer say haven't receive. money changer said remit already. money was deposited in 2 tranches and showed me all the relevant slips. sibei sian... now have to hound everyone to see where the money is. sian...
after heeding the advice of fellow forummers here, I decided to remit money to my lawyer using a SG money changer. one week later, lawyer say haven't receive. money changer said remit already. money was deposited in 2 tranches and showed me all the relevant slips. sibei sian... now have to hound everyone to see where the money is. sian...
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Sorry to hear this, but wondering where can go wrong? Double check with lawyer side - company name and bank a/c, and name of sender. Skarly money remitted by you but mistaken it's from someone else? Jialat...
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