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Thread: Lawyer charges $500 for stamp duty

  1. #1
    Join Date
    Nov 2008
    Posts
    163

    Default Lawyer charges $500 for stamp duty

    Hi All,

    Need to check something with you guys.. I recently bought a unit and went to the lawyer to do the necessary documentation & stuff..

    I have a question; eg.

    Stamp Duty - $30,000.00
    mortgage fee - $500.00
    payable to lawyer for stamp duty - $30,500.00

    I just want to find whether it's a common practice for the lawyer to charge the add'l $500.00 fee? I know that we have legal fees to pay but to my understanding, all the legal fees should be settled upon completion of sale..

    Thks

  2. #2
    Join Date
    Nov 2008
    Posts
    211

    Default

    Quote Originally Posted by WolleyDragon
    Hi All,

    Need to check something with you guys.. I recently bought a unit and went to the lawyer to do the necessary documentation & stuff..

    I have a question; eg.

    Stamp Duty - $30,000.00
    mortgage fee - $500.00
    payable to lawyer for stamp duty - $30,500.00

    I just want to find whether it's a common practice for the lawyer to charge the add'l $500.00 fee? I know that we have legal fees to pay but to my understanding, all the legal fees should be settled upon completion of sale..

    Thks
    I ask 2 lawyers. Both of them told me mortgage fee is not to the law firm. It is for the mortage, pay to Government.
    Just that the law firm collect it and pass to Government

    I don't recall, had this mortgage fee few yrs back. So I'm also wondering, is this a new requirement.

  3. #3
    Join Date
    Nov 2008
    Posts
    163

    Default

    Quote Originally Posted by Acer
    I ask 2 lawyers. Both of them told me mortgage fee is not to the law firm. It is for the mortage, pay to Government.
    Just that the law firm collect it and pass to Government

    I don't recall, had this mortgage fee few yrs back. So I'm also wondering, is this a new requirement.
    Thks Bro..

    On another note; stamp duty is a duty fee payable to the Government for filing of documents.. why generate a new mortgage fee right?? isn't it a LPPL fee related to stamp duty??

    next time when you buy property maybe got to pay government;
    1) Stamp Duty
    2) Mortgage Fee
    3) Photocopy Fee
    4) Stationary Fee
    5) Paper Clip Fee
    6) Pen & Pencils Utilization Fee
    7) Ruler Regulatory Fee

    notice items 5~7 is a deliberate reproduction of stationery fee.

  4. #4
    Join Date
    Apr 2009
    Posts
    3

    Default

    Stamp duty for Mortgage is payable by a buyer and is SGD500.

  5. #5
    Join Date
    Nov 2008
    Posts
    211

    Default

    Quote Originally Posted by kyongpar
    Stamp duty for Mortgage is payable by a buyer and is SGD500.
    is direct purchase from developer also subject to this stamp duty?

  6. #6
    Join Date
    Mar 2009
    Posts
    110

    Default

    Quote Originally Posted by Acer
    is direct purchase from developer also subject to this stamp duty?
    Yes its applicable...

  7. #7
    Join Date
    Nov 2008
    Posts
    211

    Default

    thanks Autonomy

    WolleyDragon, I find this in IRAS
    Stamp duty rate for mortgage


    http://www.iras.gov.sg/irasHome/page04.aspx?id=8708


  8. #8
    Join Date
    Nov 2008
    Posts
    163

    Default

    Quote Originally Posted by Acer
    thanks Autonomy

    WolleyDragon, I find this in IRAS
    Stamp duty rate for mortgage


    http://www.iras.gov.sg/irasHome/page04.aspx?id=8708
    Thanks Acer for the info.

  9. #9
    Join Date
    Nov 2008
    Posts
    2,438

    Default

    Nope. I didn't pay the $500. It is ridiculous. The money is for the Government. Why would the firm charge you? I bought three times and three times, the firms did not charge me. I went to two different firms btw...

  10. #10
    Join Date
    Dec 2008
    Posts
    84

    Default

    It is NOT an issue of having purchased a property.

    It is stamp duty on mortgages, that is if you had secured a mortgage for the property purchase. If you had paid cash for your property, well good for you.

    Secondly, the stamp duty on the mortgage is $4 per $1,000 or part thereof BUT capped to $500.00
    If you had secured a loan more than $125,000, you will pay max $500.
    Last edited by louisebrown; 23-06-09 at 10:24.

  11. #11
    Join Date
    Dec 2008
    Posts
    84

    Default

    Wollydragon

    Congratulations. You've bought a $1,180,000 property

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