Legal Fees Payable in Buying or Selling a Property
The legal fees payable to a lawyer acting for you when you buy or sell a property is calculated based on the purchase price as follows:-
- For the first RM 150,000, the legal fees payable is 1 %
- For the next RM 850,000, the legal fees payable is 0.7%
- For the next RM 2,000,000, the legal fees payable is 0.6%
- For the next RM 2,000,000, the legal fees payable is 0.5%
- For the next Rm 2,500,000, the legal fees payable is 0.4%
- For the remaining, if any, negotiable
For instance, if the purchase price is RM 400,000. The calculation is as follows-
Total legal fees = ( RM 150,000 x 1% ) + (RM 250,000 x 0.7%)
No discount rule
According to Solicitors' Remuneration Order, lawyers are strictly not allowed to give discount in conveyancing matters.
For further information
Please obtain legal advice or Consult Our Panel Lawyers.
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