Property Swap

[Decimator4000]

Hello Forumites,

Has anyone ever conducted a property swap? What are the legal implications? Can you swap a property and value both properties at $1, and thus save on stamp duty?

I've seen a number of websites which provide an intermediately service and was wondering whether this is a viable way of offloading my current house and receiving one alike in a different city.

Regards,

The Decimator4000

 

[D.T.]

Hello Forumites,

Has anyone ever conducted a property swap? What are the legal implications? Can you swap a property and value both properties at $1, and thus save on stamp duty?

I've seen a number of websites which provide an intermediately service and was wondering whether this is a viable way of offloading my current house and receiving one alike in a different city.

Regards,

The Decimator4000

A much better idea would be to just rent each others house. Then you get all the tax benefits and can rollback if you change your mind.

 

[Decimator4000]

Agree, but I really want to offload this house and potentially live in the swapped residence (Townsville Area).

 

[Terry_w]

CGT and stamp duty at market value...

 

[Decimator4000]

CGT and stamp duty at market value...

Thanks Terry. Is that based on council rates (unimproved value)? and if not how is the market value assessed?

 

[Terry_w]

Thanks Terry. Is that based on council rates (unimproved value)? and if not how is the market value assessed?

No. full value as ascertained by a licensed valuer.

 

[JenJen]

Hi Deci
Are you considering moving to Townsville?
Jen

 

[Colin Rice]

OSR in your state would require a licensed valuer to complete a valuation and based on that stamp duty would be payable.

 

[Decimator4000]

Hi Deci
Are you considering moving to Townsville?
Jen

Sure am. Looking forward to the wonderful weather of the wet season already.

 

[redwing]

Hello Forumites,

Has anyone ever conducted a property swap? What are the legal implications? Can you swap a property and value both properties at $1, and thus save on stamp duty?

I've seen a number of websites which provide an intermediately service and was wondering whether this is a viable way of offloading my current house and receiving one alike in a different city.

Regards,

The Decimator4000

I've heard of it as a short term holiday option only

My parents even did this when we were kids, so not new