2 IP's On Same Settlement Date

[Anta]

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.

 

[Rolf Latham]

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

 

[Anta]

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.