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Can I add or delete a name to the contract?

Occasionally after signing a contract, a buyer will realise that he or she wants to either add or delete his or her partner from the contract. This is not normally a problem providing the seller agrees. The seller will normally agree as their rights under the contract are not normally affected and there is more chance that the contract will proceed through to settlement. All that happens is an amendment is made to the original contract and both seller and the buyer initial the change. Previously there was some concern that the buyer would have to pay double stamp duty however the Office of State Revenue has confirmed in recent times that there is no additional stamp duty payable. Some solicitors may require a deed of recision and a new contract to be signed.

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