Is it possible to onsell a property before you buy it? If so, how does this work? Can you avoid stamp duty by doing this?
By buying an option over the property, you may be able to onsell this and avoid stamp duty.
If you were to sell a property, you would have to own it first (even for a few mins) and this would mean stamp duty.
Terryw
Discover Home Loans
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Hi rp2606
I am currently holding block of land which i am waiting release of titles, i have onsold this block prior to my settlement. I had to pay the stamp duty before the end of first 12 months, and both contracts will settle immediately after one another.
As Richard had mentioned, you have to own it first, before you can sell, hence the need to pay stamp duty.
Regards
Wayne
“What is the lap record, and which way do i go?”
My apologies Terry, not Richard!!
Wayne
Wayne
Happy to take the credit anyway.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
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