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Buyer wants to do something odd with stamp duty
Penny_Farthing_2
Posts: 502 Forumite
Hi
We put our house up for £435,000. Buyer offered £405,000 which we turned down as we are looking to downsize and need to pay off loads of our mortgage. Today buyer offered £435,000 IF we pay stamp duty, which means we clear nearly £422,000. Why don't they just offer £422,000? What's in it for them and are there any catches for us? It just seems plain odd - or am I being a numpty and missing something obvious?
We put our house up for £435,000. Buyer offered £405,000 which we turned down as we are looking to downsize and need to pay off loads of our mortgage. Today buyer offered £435,000 IF we pay stamp duty, which means we clear nearly £422,000. Why don't they just offer £422,000? What's in it for them and are there any catches for us? It just seems plain odd - or am I being a numpty and missing something obvious?
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Comments
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Maybe they were going to borrow the stamp duty on the mortgage?
Dunno seems odd to me too.0 -
Yeah sounds like they would be trying to get a mortgage for £435k instead of £422k
What did your EA say?0 -
Maybe they think you will accept an asking price offer regardless what conditions are attachedAnnual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery0
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Not sure. Apparently they were talking about doing 50 grands worth of work to it so I don't think they're short of cash.
Hmm0 -
But then when the funds were transfered from the mortgage, i'd think that the stamp duty woyld have to be paid on top0
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EA blinded me with numbers (I try really hard but I'm like a rabbit in a headlight when numbers are mentioned!:eek: ) I think I will get OH to ring tomorrow and try to get to the bottom of it.0
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I suppose your EA was only passing on the offer that was made0
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Not so sure! I have moved 5 times and have learned that EA s are not to be taken at face value (I'm in v. polite mode here, you understand).0
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Don;t see why they couldn't have offered £422k then
would you have accepted that anyway? Because if we didn't then you do not need to post - and reject their offer0 -
Sounds like it's part of the bartering process.
They are offering you £422K after trying it at £405K. You just need to decide whether to accept it or not. The fact that they have dressed up their offer by including stamp duty is only there to confuse.
Decide how much you would accept, say £425K and go back and say you'd accept £430K. Watch them come back at £427.5K.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0
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