Legal Fees Scale Fees (Sale and Purchase Agreement and Loan Agreement) – SRO 2005 (Old Scale Fees)

CALCULATION METHOD (LEGAL FEES)
The Legal Fee for a standard Sale & Purchase Agreement and Loan Agreement is based on solicitors’ remuneration order 2005. The scale fees are as follow:
Consideration or Adjudicated Value Scale of Fees
For the first RM150,000 1.0% (subject to a minimum fee of RM300)
For the next RM850,000 0.7%
For the next RM2,000,000 0.6%
For the next RM2,000,000 0.5%
For the next RM2,500,000 0.4%
Where the consideration or adjudicated value is in excess of RM 7,500,000 Negotiable on the excess
(but shall not exceed 0.4% of such excess)
For example:

If the property price is RM550,000, the calculation is:
First RM150,000 @ 1% RM1,500
Next RM400,000 @ 0.7% RM2,800
Total Legal Fee RM4,300
If the property price is RM10.5 million, the rate above RM7.5 million is negotiable between the law firm and the client. If say the negotiated rate is 0.2%, the calculation is:
First RM150,000 @ 1% RM1,500
Next RM850,000 @ 0.7% RM5,950
Next RM2,000,000 @ 0.6% RM12,000
Next RM2,000,000 @ 0.5% RM10,000
Next RM2,500,000 @ 0.4% RM10,000
Next RM3,000,000 @ 0.2% (negotiated rate) RM6,000
Total Legal Fee RM45,450
Categories: Legal FeesTags: ,

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