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Stamp Duty Paid?
sk065
Posts: 12 Forumite
Hi all
I live in Scotland and I'm looking into purchasing a property (new build) from the seller. I have negotiated a contract price of £208,250 which included incestives in the form of an £8000 discount and 1% Stamp Duty Paid.
I was recently given costings on my legal fees by my solicitor, who incuded the Stamp duty (£2080) in the quote. I phoned him and queired this as I thought that the seller was going to cough the money up i.e a cash payment. However, I was advised that I was to pay the stamp duty and the cost would be offset by discounting off the contract price.
The problem I have is that I havent budgeted for the extra £2080 which I assumed would be paid for in cash by the seller. Can someone clarify how this works and whether it is the case that the legal fees I have to pay will include the stamp duty after all?
Many Thanks
I live in Scotland and I'm looking into purchasing a property (new build) from the seller. I have negotiated a contract price of £208,250 which included incestives in the form of an £8000 discount and 1% Stamp Duty Paid.
I was recently given costings on my legal fees by my solicitor, who incuded the Stamp duty (£2080) in the quote. I phoned him and queired this as I thought that the seller was going to cough the money up i.e a cash payment. However, I was advised that I was to pay the stamp duty and the cost would be offset by discounting off the contract price.
The problem I have is that I havent budgeted for the extra £2080 which I assumed would be paid for in cash by the seller. Can someone clarify how this works and whether it is the case that the legal fees I have to pay will include the stamp duty after all?
Many Thanks
0
Comments
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Tell the vendor you need to pull out because of this misunderstanding, they'll cough up(again)0
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