other possible costs associated with buying property
Following are the cost that may be involved to own a property in Malaysia
• Legal fees on Sale & Purchase Agreement
• Stamp duty on Sale & Purchase Agreement
• Legal fees on loan documentation
• Stamp duty on loan documentation
• Memorandum of Transfer (MOT) fees for transfer of title
• Quit rent (annually)
• Assessment (half yearly)
Stamp Duty Calculation
For every RM100.00 or fractional part of RM100.00 of the amount of the purchase price or the adjudicated market value of the property by the tax department, whichever is the greater –
• RM1.00 on the first RM100,000.00;
• RM2.00 on any amount in excess of RM100,000.00 but not exceeding RM500,000.00;
• RM3.00 on any amount in excess of RM500, 000.00.