Let’s say I am buying an apartment on purchase price RM 150,000 and get a 90% financing. Below is the calculation for stamp duty, legal fee, MOT (Memorandum Of Transfer). The total amount I should prepare is $4,575 + $3,092.50 + $15,000 (10% of deposit) = $ 22,667.50.
Property Price : RM 150,000.00
Margin Of Finance : 90%
Loan Amount : RM 135,000.00
Sales and Purchase Agreement | Purchase Price | Tier Rate | Payable |
First 150k | 150,000.00 | 1.0% | 1,500.00 |
Next 850k | 0 | 0.7% | 0 |
Next 2M | 0 | 0.6% | 0 |
Next 2M | 0 | 0.5% | 0 |
Next 2.5M | 0 | 0.4% | 0 |
Exceed 7.5M | 0 | 0.3% | 0 |
Legal Fee | 1,500.00 | ||
Service Tax (5%) | 75.00.00 | ||
Disbursement | 1,000.00 | ||
Memorandum Of Transfer | Purchase Price | Tier Rate | Payable |
First 100k | 100,000.00 | 1.0% | 1,000.00 |
Next 400k | 50,000.00 | 2.0% | 1,000.00 |
Exceed 500k | 0 | 3.0% | 0 |
Stamp Duty | 2,000.00 | ||
Total | 4,575.00 | ||
Loan Facility Agreement | Loan Amount | Tier Rate | Payable |
First 150k | 135,000.00 | 1.0% | 1,350.00 |
Next 850k | 0 | 0.7% | 0 |
Next 2M | 0 | 0.6% | 0 |
Next 2M | 0 | 0.5% | 0 |
Next 2.5M | 0 | 0.4% | 0 |
Exceed 7.5M | 0 | 0.3% | 0 |
Legal Fee | 1,350.00 | ||
Service Tax (5%) | 67.50.00 | ||
Disbursement | 1,000.00 | ||
Execution Loan Doc | Loan Amount | Tier Rate | Payable |
Total Loan Facility | 135,000.00 | 0.5% | 675.00 |
Stamp Duty | 675.00 | ||
Total | 3,092.50 |
Other fees included MRTA, Fire Insurance, Caveat, furnishing expenses and miscellaneous expenses.
It is needed a huge capital ($ 22,000++) to buy a $150,000 property, what if buying a $400,000 property? or $ 800,000 shop lot ?
Hence, we should have a well planning on our cash flow before we decided to buy a property for investment purpose.
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