Can I sell my house for a lot less than it's worth?

SailorSam

The value of anything is what people are prepared to pay for it. Forget for a moment about the £50k, that's a different issue.
With the house market being so slow at the moment a lot of people are having to accept thousands less than they thinkl their houses are worth just to get rid of them.
I can't see that the tax man could come back to you and see you should have held out for a better off.
AS others have said though the gift in used fivers in a brown paper envelope would be frowned upon.

bryanb

pimento wrote: »

That's interesting because I recently had £23k paid into my bank account and the bank said nothing.

I bet it wasn't cash in used fivers though. They won't check if it's from a verifiable source, eg a BS account/bank account.

hundredk

silvercar wrote: »

Why would anyone pay more than something is worth, particularly when gifts are tax free in this country?

Possibly to avoid inheritance tax in future?

silvercar

Buy one house in the road very, very cheaply and its "below market value". By the whole street for the same price and the low value becomes market value.