PETALING JAYA: Changes in the Solicitors’ Remuneration Order is a boon for buyers of second-hand homes and commercial units.
This is because the sale of these properties, which do not fall under the Housing Development (Control and Licensing) Act, can receive up to 25% discount on conveyancing fees according to their lawyers’ discretion.
Before this, lawyers were not allowed to give any form of discount.
There is already an automatic reduction of between 25% and 35% in fees depending on the property value for sale under the purview of the Act.
There is a 25% reduction in fee for property worth above RM50,000 to RM250,000 and 30% for above RM250,000 to RM500,000.
Anything above RM500,000 will receive a 35% reduction.
Bar Council’s conveyancing committee co-chairman Datuk Roger Tan said the changes would help ease the burden of potential house buyers.
“This will help a lot of home buyers. It is a form of corporate social responsibility,” he said.
Property transaction fees up