Stamp Duty Holiday - unsure about dates

matt1234

Hi

I am aware that Stamp duty goes back on 01/01/10. However, does this date mean that contracts have to be exchanged by this date or merely that a purchase has to be agreed etc. We've only just decided to start looking and with 2 weeks left we don't know if it's even reasonable to think about buying before the stamp duty goes back!

Many Thanks

poppy_f1

its from completion

matt1234

poppy_f1 wrote: »

its from completion

What does that mean exactly, sorry I have no idea about these things

noh

Completion comes after exchange of contracts.
It is the point at which the property becomes legally yours.
In reality you have zero chance of completing before 1st Jan 2010 if you have only just started looking.

http://www.ourproperty.co.uk/guides/who_does_what_in_the_buyingselling_process_professionals_roles_explained-p3.html

ritz55

Its the day you actually get the keys in your hands. Unlikely to be able to Exchange and complete by the 1st.

Princess_kate

I put an offer in on 1/12 & am completing 22/12 but its been hard going, not helped by christmas post, solicitors being shut between christmas & new year. Sorry but even if you put an offer in on monday there is no chance you would complete by 31/12 with the bank holidays & offices being shut for the holidays.

iamana1ias

matt1234 wrote: »

What does that mean exactly, sorry I have no idea about these things

I'd suggest you learn then as you're going to be making the biggest purchase of your life :rolleyes:

Wutang_2

iamana1ias wrote: »

I'd suggest you learn then as you're going to be making the biggest purchase of your life :rolleyes:

how do you know this? I'd suggest you assume a lot less and big yourself up a lot lot less.