Stamp duty on house/house for sale

[Andy1979]

Guys,
Looking for some advise if possible. Brand new house never been lived in, price 380,000 with no stamp duty. (According to estate agent)

Does this mean that the house is up for sale for the first time or someone has previously bought it, sat on it for a few months and is now selling it??

 

[Howitzer]

The 2nd option. You should have plenty of scope for haggling the price down, especially if it's a new scheme which is due to complete soon (the flipper is looking to sell the contract before he has to complete the sale and stamp suty is liable)

 

[Satanta]

It means neither (so could be either) AFAIK.

It could (from my reading of the SD criteria at least) meet the SD exemption rules either way...

"The house or apartment must not have been occupied prior to its purchase."

and

"Owner-occupiers of new houses/apartments are exempt from stamp duty, provided that the area of the house or apartment does not exceed 125 sq. metres (1,346 sq. feet) and a has been issued."

Similiar details available from [broken link removed].

I am open to correction on this, but from the wording it does seem available to both.

 

[whathome]

I am open to correction on this, but from the wording it does seem available to both.

The rule...
"The house or apartment must not have been occupied prior to its purchase."

I would have thought that this only applies to houses and apartments that are New and have never been purchased before. If the house has previously been owned (not occupied maybe - but registered with land registry etc.) would the stamp duty rules for second-hand property not apply?

 

[Satanta]

I would have thought that this only applies to houses and apartments that are New and have never been purchased before.

I had a look through the details on both the revenue and oasis sites, neither state that the house must not have been purchased before, only stating "must not have been occupied prior to its purchase".

I'm not saying this from knowledge or experience simply from the wording. I'm very open to correction on this!

 

[Andy1979]

Thanks for the feedback guys, I have a sneaky suspision the builder/foreman bought it, sat on it for the year and is now selling it at a higher price. Furthermore for some unkown reason he has gone and cut the garden in half from its oroignal size

 

[whathome]

I had a look through the details on both the revenue and oasis sites, neither state that the house must not have been purchased before

mmmm....but if it was purchased before then it would be second-hand now?

 

[Hi52]

If the property has completed before (ie Deed of Conveyance signed/money exchanged/Property registered) then it'll be a second hand house even if no-one actually lived in the house.
If you are buying directly off the developer/builder where the property has sat idle (no money exchanged/Deed not signed/nothing registered) then its a new property from a SD point of view.

 

[Satanta]

mmmm....but if it was purchased before then it would be second-hand now?

I would have assumed so too.
From the reading of the Oasis/Revenue material I felt that my initial thoughts were wrong and that they were still being considered new....
Having looked at AAM.... seems not to be the case!

Previous thread which may clear it up a little.


Edit: Hi52 seems to have cleared it up a little more!
Anywhere these details are stated by revenue?

 

[Hi52]

Don't know where it's stated by Revenue but know same from experience with the Stamps Office.

In relation to the OP, sounds like a brand-new house. no SD if floor Area Compliance Cert and purchasing directly from the developer. If not directly from the developer then there will be stamp duty(4.5%)