Hi all
Its too late to call my bank tonight, but before I do tomorrow, could someone please clarify whether I need to factor stamp duty into my upfront costs (ie. ensure i have savings now to cover stamp duty) or whether it can be rolled into my loan?
I'm looking at buying at auction in the ACT and I understand I have 90 days to pay stamp duty from the date of exchange of contracts. This would appear to provide enough time for the bank loan to come through.
Can I then just focus on having my 5% or 10% deposit, plus other upfront costs, and expect my bank to include stamp duty in the loan?
If absolutely necessary, I could sell some shares to get the cash, but would prefer not to at this stage.
thanks helpful people!
Its too late to call my bank tonight, but before I do tomorrow, could someone please clarify whether I need to factor stamp duty into my upfront costs (ie. ensure i have savings now to cover stamp duty) or whether it can be rolled into my loan?
I'm looking at buying at auction in the ACT and I understand I have 90 days to pay stamp duty from the date of exchange of contracts. This would appear to provide enough time for the bank loan to come through.
Can I then just focus on having my 5% or 10% deposit, plus other upfront costs, and expect my bank to include stamp duty in the loan?
If absolutely necessary, I could sell some shares to get the cash, but would prefer not to at this stage.
thanks helpful people!