Hi guys,
Late last year I purchased my first home for $400,000 with a $365,000 loan from the bank. The house is in Victoria. My understanding is that there is two different stamp duties that are payable. One is for when the property is a Principle Place of Residence and the other is when it is not, presumably for an investment property.
It seems that I have been charged the stamp duty for my property not being a PPOR – $19,070, instead of the lower stamp duty cost of $16,370.
I asked my solicitor's office about this and they said that I needed to speak to the bank. Then the bank tells me that the stamp duty is calculated by the solicitors and they are responsible. I believe that it is the solicitors responsibility based on their incompotence in the past.
Does anyone know if I am able to get the extra money I paid back? I have paid almost $3000 extra in this case. Any advice would be greatly appreciated.
Call the state revenue office. I had a similar problem with BankWest. The amount in my contract was incorrect. I notified them and they said it was an estimate and the correct amount would come back at settlement. They then overpaid the SRO.
Funny thing was when I called the state revenue office the knew which bank as I was one of many this was happening to. We filled in some forms direct with the state revenue office and got the money approx 12 weeks later.
It is something your conveyancer should have noticed.
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