Hi,
1) A simple answer would be to buy at half price rather than receive it as a gift.
2) If you read more on gift transfer, the legal process is so much more complicated, and you did not save on the stamp duty by going through the complicated process.
3) The stamp duty for a gift transfer is the same as buyer stamp duty.
4) You are not able to refinance the house by receiving it as a gift, because this gift is subject to the creditor's clawback if the donor went bankrupt within the next 3 years.
5) The only shortcoming of buying of course is your TDSR assessment must support you to receive enough financial assistance to buy over.
6) I would suggest you speak to a banker to understand how much you could get from a bank.
Hope the above answer your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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