Posted by
Andy552
16 yrs ago
Hi everyone. I am thinking of buying a flat quite soon in Hong Kong. Budget is around HK$ 5m. What should I budget for legal fees? In the UK I think I paid about GBP 2,500 but I really have no idea what to expect to pay in Hong Kong.
Thanks,
Andy
Please support our advertisers:
curly
16 yrs ago
When I bought my flat, the agent recommended a local chinese firm which cost HK$8,000 for the work. From what I gather, costs can range hugely depending on which firm you pick.
Note that cost was just for their time and it was fixed up front. You still have all the land search fees etc on top
Good luck.
Please support our advertisers:
I was quoted 7k by one and 5k by another for buying. You will have to check what these fees include and exclude to be sure of the deal you're getting.
We ended up paying 5k all inclusive for buying and 4,800 for selling a property.
Good luck.
Please support our advertisers:
The amounts you've quoted are just for the solicitor. There are other fees (e.g. stamp duty, agent commission).
Please support our advertisers:
Agree, the above is only for the solicitor.
Stamp duty and agent's commission are the larger costs to consider. Stamp duty for a 1000sq ft is around 130-140k and it gets more the larger the size of your apartment is (I think?). Agent's fee is usually about 1% of the cost of the apartment.
Please support our advertisers:
Assuming you will need a mortgage (we are able to do BOTH the purchase and the mortgage), our fees would range between HK$12,000 to 15,000).you should also be aware that stamp duty will be charged to the purchaser by the HK Government equivalent to 3% of the sale price.
Weir & Associates
Solicitors & Notaries
16th Floor Tak Shing House
20 Des Voeux Road Central
Central
Hong Kong
Tel : 2526-1767
Fax : 2868-3568
email : weirlaw@hongkonglaw.com
www.HongKongLaw.com/weirlaw
Please support our advertisers:
You must be logged in to be able to reply.
Login now
Copy Link
Facebook
Gmail
Mail