Interesting @EdmundBon. When I was in varsity, we discussed the possibility of standard forms be made available at all District Offices for regular S & P with government officers consulting or presiding over the signing when paying the stamp duty. Stamp duty for regular S & P today goes from RM1,000 to RM5,000 (for property between RM100k - RM300k). This excludes stamp duty on other documents related to the S & P such as the loan agreement. If we are paying that much money to the government for a piece of usually standard document, we might as well get a mediators service. For more complex S & P (which is rare - I worked in a conveyancing department in Klang Valley for over a year), the buyer and seller may opt for private conveyancing service. Legal fee will typically go from RM1,000 - RM2,000 for properties ranged above. And it is a very common practice today that only one party will appoint a lawyer to draw up the S & P while the other party will have to solely trust the first partys lawyer to act fairly.
Posted on: Thu, 02 Oct 2014 01:09:28 +0000
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