HI,
I have just noticed a 'for sale' ad on daft for a new house in a development I am buying in. The houses have not yet been moved into, yet someone has advertised a house for sale (its a private sale, seemingly no estate agents involved) and has stated in the ad that it is exempt from stamp duty. As the asking price is above the threshold for a first time buyer, this assertion can only be on the basis that the house remains a 'new' house.
Can anyone explain to me how this can happen? If the contracts are signed, but the hosue not handed over, surely you cannot sell the house on when you dont even own it yourself. Or, if the house has been handed over, but not moved into, is it legal to sell the hosue on and, because it was never lived in, claim it is still a 'new' house and so exempt from stamp duty? But would this not be considered as buying the house for investment purposes and so be subject to a clawback?
Hope this makes sense....any comments welcome
I have just noticed a 'for sale' ad on daft for a new house in a development I am buying in. The houses have not yet been moved into, yet someone has advertised a house for sale (its a private sale, seemingly no estate agents involved) and has stated in the ad that it is exempt from stamp duty. As the asking price is above the threshold for a first time buyer, this assertion can only be on the basis that the house remains a 'new' house.
Can anyone explain to me how this can happen? If the contracts are signed, but the hosue not handed over, surely you cannot sell the house on when you dont even own it yourself. Or, if the house has been handed over, but not moved into, is it legal to sell the hosue on and, because it was never lived in, claim it is still a 'new' house and so exempt from stamp duty? But would this not be considered as buying the house for investment purposes and so be subject to a clawback?
Hope this makes sense....any comments welcome