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Thread: stamp duty

  1. #1
    Newbie

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    Default stamp duty

    hi,
    first time condo owner here and i just purchased a unit that has not top yet.
    already given the 1% and the 4% next week.
    so who is supposed to pay the stamp duty.the buyer or the seller?
    thanks for any help rendered

  2. #2
    Valued Contributor

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    Default

    Buyer (you) pays. Seller stamp duty is seller's problem.

    You just need to focus on your role:-

    1% option, cash
    4% exercise, cash (before option expired)
    3% stamp duty (within 2 weeks), cash but claimable from CPF

    95% - Loan% = Remaining % (at least 1 week before completion). Assuming 80% loan, you need to pay 15%. Usage of CPF up to 10% here.



    Quote Originally Posted by drunk
    hi,
    first time condo owner here and i just purchased a unit that has not top yet.
    already given the 1% and the 4% next week.
    so who is supposed to pay the stamp duty.the buyer or the seller?
    thanks for any help rendered

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