2 IP's On Same Settlement Date

Discussion in 'Property Finance' started by Anta, 22nd Feb, 2011.

  1. Anta

    Anta Member

    Joined:
    22nd Feb, 2011
    Messages:
    4
    Location:
    Roxby Downs, SA
    Hi,

    Hoping someone here can help out with a little advice.

    We have a contract on a unit which is to settle on 23rd March 2011. We have just had an offer accepted on another unit, also to settle on 23rd March 2011. Both in Adelaide, SA.

    I remember reading about saving on purchase costs if 2 properties settle on the same date. I may have read it in a magazine a couple of years ago.

    Does anyone know if this is true? From memory I think it was a saving on the Stamp Duty???

    Any help or advice would be greatly appreciated.
     
    Last edited: 22nd Feb, 2011
  2. Rolf Latham

    Rolf Latham Member

    Joined:
    2nd Mar, 2001
    Messages:
    18,791
    Location:
    Confused = Sydney, Brisbane and Gold Coast
    u are an optimist :)

    Savings on stamp duty no, but lets say you bought 2 ips in the same development from the same vendor, the OSR may want to aggregate or group ur purhases, and in some states that makes things a bit more costly

    Your solicitor would now for sure

    ta
    rof
     
  3. Anta

    Anta Member

    Joined:
    22nd Feb, 2011
    Messages:
    4
    Location:
    Roxby Downs, SA
    Thanks Rolf. Our conveyancer has told us the same today. He also said that 2 in the same development in the same tax year would be grouped together.