EB. Sener Law & Conveyancing Firm
EB. Sener Law & Conveyancing Firm

Why is it necessary to have a Sales contract stamped by the financial office (which is a part of the Ministry of finance)?


The purpose of having a sales contract stamped is not to make it valid. However, in the event that a dispute arises between yourselves and the opposite party and the contract needs to be used in court as evidence, then it can only be so used if the contract has been stamped. Also, in order to successfully register the Contract at the Land Registry Office, it is a requirement that the Contract of Sale is duly stamped. 

To have a contract stamped within one month of signing, the cost is valued at 0.5% of the sales price as stipulated in the sales Contract. However, if the contract is stamped any later than this the cost will increase and a late penalty fee will be added.

Therefore it is in your best interests to arrange to have the Contract stamped soon after the signing, it also ties in with the 21 day limitation to register the Contract once signed. 

 

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