Hi All,
Another question. Suppose I want to "sell" my property to my Family Trust.
Per SRO Vic requirements, I have to pay stamp duty on the sale price or market value (whichever is greater). In this case, I would need to use the Market Value.
But how is the Market Value of my property determined?
Do I just get my bank to do a valuation on it or an independent valuer to estimate the property value so that it's available in writing; or is it sufficient just to go to www.realestate.com.au and print evidence of comparable properties to determine the Market Value of my property?
I'm just wondering, what would the SRO consider evidence for "Market Value"?
Another question. Suppose I want to "sell" my property to my Family Trust.
Per SRO Vic requirements, I have to pay stamp duty on the sale price or market value (whichever is greater). In this case, I would need to use the Market Value.
But how is the Market Value of my property determined?
Do I just get my bank to do a valuation on it or an independent valuer to estimate the property value so that it's available in writing; or is it sufficient just to go to www.realestate.com.au and print evidence of comparable properties to determine the Market Value of my property?
I'm just wondering, what would the SRO consider evidence for "Market Value"?