Sale & Purchase of Property – how much is your legal cost?

Part 1

I’ve received a lot of emails, phone calls and text messages on my mobile with regards to this question.

As the question sounds very simple, people tend to assume that I can easily and immediately provide them with a precise answer. This is wrong. Despite my previous explanation that the legal cost is subject to certain factors, I’m still until now - keep being asked to answer this question.

Thus, for the benefit of everyone, I’ll give a brief guidelines on how much do you want to estimate your legal cost in relation to sale & purchase of a property. Please take note that this is just a guideline to estimate your legal fees. I am not responsible for any errors in providing this guideline. Any comments to correct this guideline are most welcomed.

1. Cost for the Purchaser:-
1.1 Legal cost for the Sale & Purchase Agreement (the cost is on the Purchaser)
1.2 Legal cost for the Loan Agreement (not applicable if the purchaser pay the purchase price by way of cash and without obtaining any loan from any institutions)

2. Cost for the Vendor:-
2.1 Legal cost for the Sale & Purchase Agreement (not applicable if the Vendor decides not to appoint any Solicitors for the Sale & Purchase Agreement)
2.2 Legal cost for the discharge of charge (not application if the property is free from any bank loans/ has already been fully redeemed from the bank)
2.3 Legal cost for application of the consent from State Authority (subject to the restriction under the title. If no consent is required, then this is not applicable)


to be continued in Part 2