Asked by AnnoyedSG
We bought a pte condo, t.o.p 2015, with 2 names. Paid 5% cash. Signed the SPA. Developer signed. CPF rejected due to status. One = separated, One = single.
Deadline for Stamp Duty exceeded one day, still not paid 3% stamp duty due to current situation with SPA.
Now we need to abort, get deed of rescission. Re-issue new option, new SPA with only ONE name. DO i still hv to pay 16% stamp duty?? Plus what is the penalty cost for late stamp duty (3%) fee?
Legal person recommended by the Bank, helping to sort this out, is not forthcoming nor helpful, despite me (the buyer) having to pay legal fees for both sides (developer & mine) to assist with the change.
What should we do now??
From the beginning we were ill-advised, being first time property buyers.
Deadline for Stamp Duty exceeded one day, still not paid 3% stamp duty due to current situation with SPA.
Now we need to abort, get deed of rescission. Re-issue new option, new SPA with only ONE name. DO i still hv to pay 16% stamp duty?? Plus what is the penalty cost for late stamp duty (3%) fee?
Legal person recommended by the Bank, helping to sort this out, is not forthcoming nor helpful, despite me (the buyer) having to pay legal fees for both sides (developer & mine) to assist with the change.
What should we do now??
From the beginning we were ill-advised, being first time property buyers.
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