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Another Stamp Duty Question...

  • 12-06-2006 4:28pm
    #1
    lazygit
    Registered Users, Registered Users 2 Posts: 624 ✭✭✭


    So myself and the wife are in the process of buying our first house.
    This morning in the post i got an invoice from our solictior stating that we have to pay in around 12,000 stamp duty!

    Now:
    1. We are both First Time Buyers.
    2. We will be owner occupiers and not renting any rooms.
    3. The house is Second Hand built in 1986.
    4. The house is valued at 310,000

    im afraid in cant remember the square footage of the house.. its a normal sized 4 bed.

    i tried to call the solictor this morning but of course she is OOO!

    can anyone advise.. the receptionist said it could have been a misprint...
    not a nice suprise first thing on a monday.. im afraid we will have to pullout of the sale as its 12k we cant afford!


Comments

  • #2
    aniascor
    Registered Users, Registered Users 2 Posts: 503 ✭✭✭aniascor


    If you are both first time buyers and the house is under the 317,500 threshold, it is unlikely that you owe stamp duty.

    When you say the house is valued at 310,000 do you mean that is the price you are paying for it? (just checking)

    I don't think the size of the house matters unless it is a new build (which you have said it is not.)

    Query the solicitor again when she is back in the office.


  • #3
    Lex Luthor
    Registered Users, Registered Users 2 Posts: 11,220 ✭✭✭✭Lex Luthor


    lazygit wrote:
    So myself and the wife are in the process of buying our first house.
    This morning in the post i got an invoice from our solictior stating that we have to pay in around 12,000 stamp duty!

    Now:
    1. We are both First Time Buyers.
    2. We will be owner occupiers and not renting any rooms.
    3. The house is Second Hand built in 1986.
    4. The house is valued at 310,000

    im afraid in cant remember the square footage of the house.. its a normal sized 4 bed.

    i tried to call the solictor this morning but of course she is OOO!

    can anyone advise.. the receptionist said it could have been a misprint...
    not a nice suprise first thing on a monday.. im afraid we will have to pullout of the sale as its 12k we cant afford!
    I thought the cut-off was 317,500 before you pay stamp duty...


  • #4
    lazygit
    Registered Users, Registered Users 2 Posts: 624 ✭✭✭lazygit


    Hello!

    Were paying 310,000

    anyway she got back to me! one of her new staff was drawing up the invoice and used the wrong forms.. she used the ones from before the budget changed the stamp duty ranges ...silly bint!

    all is well.. no stamp duty required.. what a way to start a monday morning tho!

    thanks for the replys


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