Advertisement Banner

Buying property – Lawyers fee

Besides the 10% downpayment, what else do you need to prepare when you are buying a property? Actually, there’s another component which is quite a lot of money. Yes, it’s the lawyer’s fee. In fact, this can be quite a huge amount depending on the price of the property that you are buying. In fact, to be honest, when I bought my first property I forgotten to factor this in and even had to take out my fixed deposit. Sigh. Anyway, I hope new investors would not forget this. Let’s look at the calculation below:
legal feeAs 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. Can they give you discount? The answer is NO……………..
written on 30 Jan 2014
Next suggested article: GST and property
Alternatively read: top 10 most read articles

**In Article Advertisements Banner

0 Responses

Leave a Reply

Subscribe to Blog via Email

Few seconds to subscribe for FREE and get property investment tips, latest financial and property news and more.

Join 1,940 other subscribers.
Motion arrow towards right
Motion arrow towards right
Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.


Advertisement Banner

Facebook Comment

Table of Contents

Most Recent Posts

join the family

Like us for daily investment news and more

Hit the like

%d bloggers like this: