Normal? Buyer wants to view house but we are due to exchange

tessie_bear

id say it was normal...we had the woman who bought our house popping round a lot to measure curtains...show her mum etc etc....good luck

maninthestreet

Surely there won't be any stamp duty to pay, due to the stamp duty holiday?

peaz

Stamp duty is 0% for anything under £175k- ours is selling for over.

JayZed

maninthestreet wrote: »

Surely there won't be any stamp duty to pay, due to the stamp duty holiday?

That's only for properties with a sale price of under £175K

mr.broderick

Will someone please clarify the current stamp duty prices.

QTPie

Just wanted to wish you very good luck - hope everything runs smoothly

QT

ad9898_3

mr.broderick wrote: »

Will someone please clarify the current stamp duty prices.

0% upto 175k
1% 175k-250k
3% 250k-500k

silvercar

mr.broderick wrote: »

Will someone please clarify the current stamp duty prices.

New thresholds from September 2008

The £175,000 threshold shown in the table applies from 3 September 2008 until 2 September 2009 inclusive (unless the lease is for less than 21 years - see the later section on this).

If the transaction involves the purchase of a new lease with a substantial rent there may be an additional SDLT charge to that shown below, based on the rent. See the later section SDLT on rent - new residential leasehold purchase for more detail.

Residential land or property SDLT rates and thresholds Purchase price/lease premium or transfer value SDLT rate
Up to £175,000 (until 2 Sept 2009 - see note above) Zero
Over £175,000 to £250,000 1%
Over £250,000 to £500,000 3%
Over £500,000 4%
If the value is above the payment threshold, SDLT is charged at the appropriate rate on the whole of the amount paid. For example, a house bought for £180,000 is charged at 1 per cent, so £1,800 must be paid in SDLT. A house bought for £350,000 is charged at 3 per cent, so SDLT of £10,500 is payable.

whathavewedone

If you've paid her stamp duty for her then I would dig my heels in. The EA wants a sale but if you end up paying out more than you can afford you might be better off even if the deal falls through.

It's completely your call - how desperately do you want to move etc.

Good luck anyway

macaque_2

peaz wrote: »

Hi guys

I was hoping you could just put my mind at ease as I am panicing and so is my husband- not a normal occurance in this house! Usually its one or the other but its both of us so we need a little reassurance!

Ok so house was on the market, several viewings and finally had an offer in Oct which we accepted. Buyer asked us to pay stamp duty which we agreed to. Survey downvalued it so buyer reduced asking price and we agreed (the buyers of the house we liked kindly did the same to keep the chain together). Buyer asked us to provide a damp report and a Periodic inspection report for the electrics-which we had to pay for. The house we want to buy needs a rewiring but with the additional expenses as above we cant afford to do it. Now we have been told that the Local Authority Search on the HIP is out of date (done mid Jan 08) and we have to pay for it. A basic one is £80, a local council one is £200. We simply cannot afford this.

Any ideas on what we can do? Our solicitor is on the phone to them now to explain that we have paid out for so much but I am just pre-empting a bit of a battle.

Also the buyers solicitor has advised the buyer to come round again to view the house. Is this normal? I was under the impression that we would be exchanging sometime soon so obviously this is worrying me and husband somewhat.

Please can anyone advise on the HIP and just put our minds at ease regarding the viewing!
xxx

If you can't put your hands on £200, what on earth are you doing buying another house?