Houses at £260/265k

Rosie75

Do houses this close to the stamp duty threshold sell at the asking price in most areas? If there is no mention of stamp duty being paid by the vendors, is £250k a ridiculous / insulting offer?

PosterBoy77

Rosie75 wrote:

Do houses this close to the stamp duty threshold sell at the asking price in most areas? If there is no mention of stamp duty being paid by the vendors, is £250k a ridiculous / insulting offer?

No offer is ridiculous or insulting if a house is on the market. It is only worth what someone is prepared to pay and if nobody has bought then it is probably not worth what it is being advertised for.

LittleTinker

My last house was £265,000 but we paid £15,000 for fixtures and fittings.

We found out after we moved in that we were in a 'No Stamp Duty Zone' anyway.

david29dpo

If a house is on the market for that price, the vendors must know the stamp duty problem. £250k will most likely be the minimum they will take.

Gambler

A house I have been keeping my eye on was originaly asking £275K, then the said they would pay the stamp duty, now it's down to £250K.

MascaraMinx

I think they will expect to get offers at £250k TBH. We're buying ours at £250k and I think it's worth about £10k more but reckon they didn't bother asking because of the SD

silvercar

Our first set of buyers reduced their house from £285k to £270k and then accepted an offer of £250. The second set had their house on at £279, refused "silly" offers and sold for £271k. I think they were very lucky to get that price, there were others on in the same road that would have sold for £250 and, with £5k spent on them would have been worth as much as my buyer's house. They sold to what I would term niaive buyers who didn't really understand the british housing market.

whambamboo

Rosie75 wrote:

Do houses this close to the stamp duty threshold sell at the asking price in most areas? If there is no mention of stamp duty being paid by the vendors, is £250k a ridiculous / insulting offer?

you need to be a bit more assertive with the vendors. Offering full asking price is ridiculous. Vendors expect offers well below asking price - if they had it at 250k they might expect £220-£230.

With your attitude you might overpay substantially. Of course nobody's going to pay £265k for a house.....

You are acting like the vendors are doing you a favour, and are ripe to get ripped off.

Never forget - they want your money.

PoorDave

I have never known anyone be so "insulted" by an offer that it seemed to make any difference to therm accepting others.

They want to sell the house! For money!

I personally would never pay over the stamp duty threshold at 3% for a house of the prices you're talking about.

cattie

LittleTinker wrote:

My last house was £265,000 but we paid £15,000 for fixtures and fittings.

We found out after we moved in that we were in a 'No Stamp Duty Zone' anyway.

I think you'll find that there are no stamp duty extempt zones, just some areas, considered deprived by the goverment, where there is no stamp duty payable on properties under £150,000.

As your property was over this amount the exemption wouldn't have applied to you anyway.

LittleTinker

cattie wrote:

I think you'll find that there are no stamp duty extempt zones, just some areas, considered deprived by the goverment, where there is no stamp duty payable on properties under £150,000.

As your property was over this amount the exemption wouldn't have applied to you anyway.

The area we moved into is classed as "Zero Rated Stamp Duty Zone" as it is a conservation area.......nothing to do with deprived areas.....and that it still applies to the people who have just bought these houses at over half a million.