Solicitors' Remuneration Order 2006
Those who are planning to buy real properties this year, be aware that the Solicitors' Remuneration Order 2006 came into force on the first day of 2006, meaning your legal fees will be slightly different from what they used to be.
Purchasers who buy directly from housing developers will be pleased to know that they are entitled to a 25 - 35% mandatory discount depending on the purchase price. But bad news for those who are planning to buy second-hand properties. The scale fees have been increased to 1% for the first RM150,000-00 and 0.7% for the next RM850,000-00. The following RM2M will be charged a 0.6%, and the next RM2M, 0.5%. Anything from RM5M to RM7.5M will be charged a 0.4% whereas the fees chargeable for anything exceeding RM7.5M is negotioble but shall not exceed 0.4%.
Further note solicitors are not entitled to give any discounts save for the few situations provided under the Order.
Purchasers who buy directly from housing developers will be pleased to know that they are entitled to a 25 - 35% mandatory discount depending on the purchase price. But bad news for those who are planning to buy second-hand properties. The scale fees have been increased to 1% for the first RM150,000-00 and 0.7% for the next RM850,000-00. The following RM2M will be charged a 0.6%, and the next RM2M, 0.5%. Anything from RM5M to RM7.5M will be charged a 0.4% whereas the fees chargeable for anything exceeding RM7.5M is negotioble but shall not exceed 0.4%.
Further note solicitors are not entitled to give any discounts save for the few situations provided under the Order.
posted by Lin at 2:09 AM
1 Comments:
The challenge in Malaysia is compliance and enforcement, not to mention the ever obliging behaviors of some few bad apples.
Post a Comment
<< Home