Vendor Pays Stamp Duty

biting_the_bullet

Hello all, its silly question time again.

Agreed a price of 240 K (vendor pays stamp duty) on a property originally on for 259'950. The vendor has been in the house since December 2004, originally paying 245K for it. So they have lost a few thousand since 2004, a real sign of prices dropping. Anyway, going off topic.

I said vendor pays stamp duty without really knowing the details. Now they have accepted, is there anything i should consider ref the stamp duty, or is it all out of my hands??

Thanks in advance.

BTB

Jorgan_2

Was the property advertised as vendor to pay stamp duty at £259,950 or are they paying it on the agreed price of £240,000. If it is on agreed price, have you assumed that they will still be paying it or is it a condition of the offer?

You need to make sure that it is listed on the Sales Memorandum that the EA would have sent to the solicitors of both parties involved & that you solicitor is actually aware that the vendor is paying the stamp duty.

biting_the_bullet

A condition of offer Jorgan, vendor accepted verbally and i mentioned it to the Agent this morning.