29 June 2018
Conveyancing - contract - amendment to price before exchange
When the purchase price is changed on the front page of a contract, is a strike through and new price placed next to it acceptable prior to exchange, or is a new front page required? Also will OSR expect stamp duty on the struck out price?
Thank you for the question.
If the parties haven’t signed, a new front page could be used.
If the contract has been signed, the method of amendment suggested is fine. Have the parties initial the amendment in the margin.
Duty will be payable on the contract price as amended. When the contract is stamped any alterations to the printed contract are marked with an additional ‘Alteration noted’ stamp.
Regards
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