Unusual Stamp Duty Question

C

conehead

Guest
Hi all,
I jsut have a quick question that i need to ask as it's killing me, I am purchasing a house, now, i am buying it off a person who has to sell it for unexpected reasons and needs to move away. The thing is it;s a new home that will only be ready in a month or two and the builder won't let us do a contract sale and so it looks like i'm gonan get stung on a big stamp bill!! it meets all the requirements for new home and i am a first time buyer, it just seems a bit unreasonable to hand over this type of money for a brand new home just because the builder won't allow us to buy from the contracts!
 
What's the question?

How do they get around the problem?

Answer: If there is a no assignment clause in the contract originally, builder can insist on original purchaser having to complete. Presumably, if there is any profit to be made then builder wants it.

If the non assignment clause is not in the contract, I don't think builder can object to someone other than the original purchaser being named on the Deed.

All you can do is weigh up the facts and see if it can be done by cutting the builder in in any profit.

mf
 
yeah sorry it's basically does anyone know a legal way around getting lumped with an 11k stamp bill!
 
conehead said:
yeah sorry it's basically does anyone know a legal way around getting lumped with an 11k stamp bill!
Click to expand...

I don't think there is , unless buying new but does not seem to be an option.
 
the reason i suggested buying from the builder is that usually the builder only prevents the resale of the contract if he has property not yet sold as new.

He wont make anything on the purchase/sale of your house, no matter what as he has no houses to sell.

cant understand why he should try to prevent it
 
I think there is some way of getting around it if the house has yet to be occupied.
 
I think car has a point if it has not been occupied.

Usually the ole solicitor are good on these points .. why dont you ask your solicitor?
 
aside from any legal aspects it looks to me that
buyer one backs out of contract with the builder-with the builders consent-and with the understanding that buyer two will buy at original price plus 5-6k for his help.
everyone's a winner,baby,
mind you, would you trust a builder not to slap 20-30k onto the price anyway,just for the hell of it,
probably sue you friend for breach of contract too.

trust?
 
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