The Scale of fees as per the Seventh Schedule has been amended. For estate agency, the maximum fee for sales or purchase for land and buildings is 3% and a minimum fee of RM1,000 has also been set. The amendment is on force since 1st October 2009. A copy of official amendment is attached.
Dear Sir,
I have been reading through the website of The Board of Valuers, Appraisers and Estate Agents Malaysia.
I wonder if you can help me regarding two terms in the Seventh Schedule (Rule 48) :
a) “update valuation” as in “5A. Fees for update valuation”
b) “revaluation” as in “5B. Fees for revaluations”.
I would be eternally grateful if you would kindly explain what are the circumstances that would avail to obtain valuation under these categories.
Thank you.
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