Where does the money for fixtures and fittings come from?

Manchester_Lucy

Hi guys,

Well I put in an offer this morning for £123,000 on a house for £130,000.

It was rejected which I did think it would be. The EA said that they are looking in the region of £126-127,000 but ideally I don't want to go over the stamp duty threshold as we would find it hard to stump up yet another lump sum after saving for our deposit etc.

I've heard people say that the can buy the property for say £125,000 but then pay an extra £1-2,000 for fixtures and fittings thus getting round the stamp duty. Does this extra money come out of your own pocket or can it get lumped in with your mortgage?

I think my second offer will simply be £125,000 but if pushed I'd like to know what options I may have.

Cara79

I think you are right, the vendors wont be expecting to get over £125,000 because of the stamp duty.

I believe that you will have to have the money for the fixtures and fittings and this is paid separately by the solicitor, otherwise, it will just look like you're paying £126k / £127k.

I'm sure someone will correct me if I'm wrong.

I would stick to your guns and don't go above £125k. Nobody else will!

Good luck
Cx

Mrs_pbradley936

If you are buying and selling at round the prices for the stamp duty changes it makes sense to take out the fixtures and fittings. They are after all not part of the structure of the property and could quite easily be taken by the seller if you did not want them. They include carpets, curtains, light fittings, garden ornaments and anything else you might wish to buy such as furniture. If they are outside of the asking price they will not be included in the mortgage and have to be paid for in a seperate transaction.

lilyann1

No one is going to pay more than £125k for it as no one will be willing to have to pay stamp duty on top.
Nobody really likes this business of paying for fixtures and fittings either,don't know how it gets sorted out legally.

Manchester_Lucy

The EA has just come back to me saying that if we offer £125,00 then a deal will be done today!!

Spoken to the broker and it's all steam ahead! Just need to appoint a solicitor...............think online may be best.

lilyann1

Great news.Good luck

mookybargirl

Congratulations

NastyMatt

Manchester_Lucy wrote:

The EA has just come back to me saying that if we offer £125,00 then a deal will be done today!!

Spoken to the broker and it's all steam ahead! Just need to appoint a solicitor...............think online may be best.

well done!!

A little bit of advice on the solicitor... I'd suggest getting one that is local why? Not returning your calls? Need to do something pronto? You can go in and see them... no having to ring them constantly. A guy I work with used online.. needed some info.. after leaving his 15th message with no return call I told him to leave one last one saying they have 24 hours to reply and then he will be using some one else. They rang back in about 5 minutes then. It's just hassle you don't need.

Plus they'll know the area better.. the one I used had dealt with a purchase in the same road and knew all about the old leases etc fantastic.

Ask around.. if the same solicitor names pops up twice.. use them!!

Sarahpuggy

Hello..

I was recommended easier2move.co.uk. My boss at work highly recommended them and i have recently instructed them. They appoint you to a solicitor, or you can request a certain one. I went with the same one my boss did. They have been brilliant so far, constant updates on text and emails and calling me about everything, and they came out quite a bit cheaper than my local quotes.

Just to give you an idea. You can go onto their website and get a quote instantly!

Sarah x

Mrs_pbradley936

lilyann1 wrote:

Nobody really likes this business of paying for fixtures and fittings either,don't know how it gets sorted out legally.

First you agree a price without the fixtures and fittings. That will be the legal price. Then you draw up a list of fixtures and fittings and itemize them such as "light fittings in lounge £50, carpet in lounge £150, ...." When you have the total and are all in agreement you pay upon exchange. That's what we did anyway.

Manchester_Lucy

Sarahpuggy wrote:

Hello..

I was recommended easier2move.co.uk. My boss at work highly recommended them and i have recently instructed them. They appoint you to a solicitor, or you can request a certain one. I went with the same one my boss did. They have been brilliant so far, constant updates on text and emails and calling me about everything, and they came out quite a bit cheaper than my local quotes.

Just to give you an idea. You can go onto their website and get a quote instantly!

Sarah x

I've just got a quote after going on their website. It came out over twice what I've been quoted from Conveyancing Warehouse and twice what I was quoted from a local solicitors.

At the moment it's all about budget for us so I'll have to go with Conveyancing Warehouse I think. Thanks anyway.