Buyer to pay agents fees

Mgreen17_2

Hello,

I am in a position where I have a house with a theoretical value of £275K ish but all anyone offers is the £250K due to the stamp duty threshold.

I have had various offers on the fixtures and fittings, and even one guy who suggested the brown paper bag with a few notes in route!

Now I know I can do a little on the F+F but they are pretty hot on it now. Someone told me that you can ask the buyer to pay your estate agents fees and I can therefore keep the whole of the £250K.

Every penny counts on this as i am right on the financial limit with the place I want to buy.

Does anyone know if there is any legal issue with this? Or any other complications?

(its a 1% rate so they write the agent a cheque for £2500 plus VAT).

Cheers in advance.

Cannon_Fodder

"HMRC told me that however payment is made, paying the seller's estate agent fees means there is a "transfer of economic value from buyer to the seller" and this counts as part of the total amount of the transaction when calculating stamp duty."

http://www.guardian.co.uk/money/2009...duty-avoidance


http://www.hmrc.gov.uk/sdlt/transaction/value.htm

"Anything of economic value which is given in exchange for land or property counts towards the chargeable consideration."

Fire_Fox

What do you mean theoretical value? What are the land registry sold prices for your street and area?

Mgreen17_2

Well all the houses on the street go for 240 - 250K, but ours is extended and has a few extra bits like garage, bigger garden, extra bedroom.
Thats why I said "theoretical" value of 275K.

pastmybest

You need to ask your EA as I doubt they will feel able to transfer the responsibilty of the bill to another another party. The agreement you have signed with the EA is with you?