Stamp Duty

[MCC]

Hi,
I was in the process of buying a new home. As I'm not a first time buyer I put a deposit on a new property - with no stamp duty.

The house is part of a development. The original builder built the 3 phases but sold the final phase to another builder (personal reasons)...and the second builder just had to finish the internal part of the houses.

It now appears on my contracts that these are second hand....if nobody has every lived in these houses, no electricity connection etc.... will it still be classed as second hand?

The vendors solicitor is taking an age to answer me.
Thanks

 

[CCOVICH]

I think that the position re. stamp duty is that as long as the property has not been occupied, the property will be exempt (subject to the 125 sq. metre threshold). This thread should clarify:

http://www.askaboutmoney.com//showthread.php?t=11002

Hope this helps.

P.S. I am presuming you are an owner occupier and not an investor? But either way, the definition of 'new' is the same, but if you are an investor (i.e. this house will not be a PPR), I would presume that stamp duty will be payable.

 

[ClubMan]

P.S. I am presuming you are an owner occupier and not an investor? But either way, the definition of 'new' is the same, but if you are an investor (i.e. this house will not be a PPR), I would presume that stamp duty will be payable.

Yes - only first and non first time buyer owner occupiers are exempt from stamp duty on new properties under 125sqm. Investors are liable for stamp duty on new properties unless the price falls under the relevant exemption threshold.

In relation to the original query I too would assume that even thought the unfinished development was sold on to another developer the fact that these properties were never lived in makes them new properties. However one's solicitor or Revenue should be able to clarify for sure.