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...... that stamp duty might be reduced (for NonFTB)
......the owners selling to somebody else
........ contracts ready to be signed in a week or two
We were thrilled our offer was accepted on a second hand house on the 3rd of sept and we paid a refundable deposit to the auctioneer the same day. We are not first time buyers.The next day on the news we heard the budget was being brought forward and that stamp duty might be reduced. We are in a dilemma now,do we hold off signing the contracts (ready to be signed in a week or two) untill the budget comes out and risk the owners selling to somebody else as nothing is binding untill we sign or do we just sign as people are saying the government are only making changes for first time buyers and we won't be affected? I know nobody has the answer but am wondering would anybody have any advice if they were in our situation.
Eh the last time they changed the stamp duty end of April and only backdated to end of March - 1mth!!If the last change in stamp duty is anything to go by the government will probably give a cut off date of a few months back. e.g the new law will apply to deeds executed on or after 30th June 2008.
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