What can I do if house value is just over 250,00

Bluefusion

Estate agents have valued our house at around £255,000, but say we should put it on at £249,999 to attract more buyers so they have to pay 1% stamp duty rather than 3%.

I want to get maximum value for our house, so are there any options for me to consider as I don't want to lose money!

Thanks

Heth_2

People often seem to say that a house is worth only what someone will pay for it. Personally I wouldn't want to pay 255k for a house and 7650 stamp duty, so I wouldn't offer more than 250k (and 2500 stamp suty).
I guess you could offer to pay some of the difference in the stamp duty, but if you offered to pay the extra 2% then you are pretty much in the same situation as selling for 250k.
I'd probably put it on the market at 255k but expect offers to be 250k or less, or put it on at 250k making it obvious the asking price has been adjusted cos of stamp duty so you want the full asking price.

NastyMatt

anyone who sees it at 255 will assume you'll take 250. If you won't take less the 255 then that extra 5k will cost some one £5,150 extra in stamp duty.

I'd say no one will offer you above 250k. You can try the "old fixtures and fittings" trick but it is a grey area to say the least.

Most houses are going for 97% of value at the moment.. meaning 255k would be 247k anyway.

NervousYetFeisty

If you can't get what you need to afford your next purchase, knock your sellers down a couple more grand to compensate.
I agree with Nasty - you're very unlikely to be offered over £249,999.

Cristy

When we were house-hunting, we were taking it as a given that a house priced at £255k or even £260k was trying to aim at a £250k offer. We wouldn't have offered higher!

Barney088

A few properties near me are being sold with "Stamp Duty Paid by Vendor", you'd need to do the sums in your case but if you sold for £260K and paid the stamp duty yourself you'd end up with £252200 in your pocket. If you offered this at £255K you'd loose out.

Doozergirl

Why on earth would an agent value a house at £255k? They're just setting you up for a disappointment. There's no way you can sell at £255,000 and get any more money than you would if you sold at £250k. Have you had any other valuations? It seems to me that this particular agent has given you this valuation because they know exactly what other sensible valuations will be and they can get your business by valuing higher (and then ask you to drop to £250k when you don't get a sale). Find another agent I say; they're either totally stupid, or being sly!

I don't think you go to £260,000 and offer to pay SD and get and extra £2,000. You're going too high in quite a tough market and you're going to exclude potential purchasers that might have pushed to £250,000 for the right house and only ever get offers for £250k even from those that can afford more. If you pay £260,000 for a house, you're still paying 3% stamp duty but you're just giving it to the vendor to pay for you!

I think you have to accept the fact that you're going to get £250,000 for it and look to get asking price. If it's special enough and offering that bit more, you will get it. £5,000 is only 2% of your selling price; just look on the bright side and see what you've made on equity.

Sorry that I can't offer any solutions.

sm9ai

The house wasn't valued by Foxtens was it :rotfl:

aimex

how about valuing any fixtures and fittings as a separate amount? eg sell for £249,950 plus £x for fixtures and fittings?