Buying a property is a big deal in someone life in some point of life. To the newbies other than to have a reserve money of 10% to serve as down payment of the purchase price, there are others entry cost such as legal fees and stamp duty. Stamp duty is payable during the transfer of property usually payable to your lawyer during the execution or transfer. To complete the term, Stamp Duty also known asĀ Memorandum Of Transfer (MOT)

 

Generally to calculate the Stamp Duty payable when buying a property Malaysia is simple. The computation of stamp duty for transfer of realĀ estate in Malaysia as below

First RM 100,000 at 1%
RM 100,001 to RM 500,00 at 2%
RM 500,001 and above at 3%

The online calculator on how to compute Malaysia property stamp duty can be found here

Online Stamp Duty Calculator for Malaysia Property

The lawyer fee usually cost few thousand Ringgit and payable fees vary depending on the purchase price of property. Generally these are the items chargeable and it’s recommended to contact your lawyer for quotation.

  • Stamping of SPA
  • Bankruptcy/ Winding up search
  • Company search (if applicable)
  • Land search
  • Registration of Transfer at Land Office
  • Affirmation on the Statutory Declaration to request for the 50% waiver on the stamp duty on the transfer/ on the assignment
  • Stamping on the Statutory Declaration to request for the 50% waiver on the stamp duty on the transfer/ on the assignment
  • Transportation
  • Printing/ Facsimile/ Telephone/ Photocopy charges
  • Miscellaneous charges