Stamp duty is a form of tax that is determined by the state government so the rules will vary depending on which state that you are purchasing in.
In Victoria, the stamp duty is assessed and payable on settlement. You will have up to 30 days after the settlement date to pay for it. You just need to account for the correct amount to be available at settlement.However, in the electronic settlement platform, you will not be able to settle the property transaction without the stamp duty paid upfront at settlement.
If you do not have enough money out of your savings to pay for the stamp duty, you may consider adding this expense into your loan amount when you make your loan application. However, remember that the more you borrow, the higher your loan to value ratio will be. If your loan to value ratio is higher than a certain percentage (usually 90%), your lender may require you to purchase lenders mortgage insurance, which is an additional expense that you need to budget for.
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