Hi All,

I'm looking at transferring my parents house into my name. Any ideas on how I can pay the lowest possible stamp duty? I am in VIC and know that you are required to pay the higher of the sale price or market price.

However, any ideas on how the SRO measures "market price" will it be a look at similiar properties and recent sales evidence only? Can I get an independant valuation and base it on that? I don't want to pay excessive stamp duty but I also don't want to be caught out paying too little on the transfer.

Any ideas or comments from people with past experience would be greatly appreciated.