You may have thought that property investment is a lucrative and ideal investment to venture today. Not only it can secure your financial freedom in the future, it also provides you passive income. For example, by purchasing a property now at a price of RM450,000-00, you may be able to sell it in the near future at a price of RM550,000-00. This is an outright RM100,000-00 profit from your RM450,000-00 investment. Now, think again! You’re not actually making a RM100,000-00 profit at all. When you purchase a property, you have to pay the costs of acquiring a property. The same applies when you sell your property. As a prudent investor, you have to calculate the legal costs on top of costs of hiring property agents and so in your acquisition or disposition of property. Let us briefly explain the costs that may involved in the property transaction from a lawyer’s point of view. Legal Fees Legal fees are fees payable to lawyer for taking instruction, drafting of agreements and documents and attendances thereof. These fees may include preparation of Sale and Purchase Agreement, Memorandum of Transfer, filing CHKT forms and various other documents and handling correspondences. These fees are governed by the legal […]
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