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when can you pay stamp duty solicitor fees

  • 26-08-2018 11:46pm
    #1
    utmbuilder
    Registered Users, Registered Users 2 Posts: 473 ✭✭


    got a question today, didn't know the answer too

    friend is buying new home paying off final deposit and drawing down

    does the solicitor and stamp duty get paid the day he gets keys or is he given 30 days for example?


Comments

  • #2
    Rew
    Moderators, Sports Moderators Posts: 8,679 Mod ✭✭✭✭Rew


    utmbuilder wrote: »
    got a question today, didn't know the answer too

    friend is buying new home paying off final deposit and drawing down

    does the solicitor and stamp duty get paid the day he gets keys or is he given 30 days for example?

    Stamp duty has to be paid (to revenue) within 30 days of closing. Solicitors payment terms are up to them.


  • #3
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,632 ✭✭✭✭Marcusm


    Usually a solicitor will insist on having the balance of all client funds in his account (stamp duty, balance of purchase price, fees and outgoings) prior to drawing down the mortgage funds. Upon drawing down such funds the solicitors gives various undertakings which would not be possible if there was any doubt about the transfer being stamped.


  • #4
    cruizer101
    Registered Users, Registered Users 2 Posts: 3,205 ✭✭✭cruizer101


    In our case the solicitor has drawn down funds from bank before we paid but we had to pay it all before closing. Only few days between them anyway.


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