Buying a House - what to offer & greenbelt land

aj9648

For the full asking price he will pay all of the stamp duty. Other than that it is up for negotiation

hazyjo

I imagine a valuer would come in at £250k anyway on a £270k asking price. If they pay the stamp duty, you're still buying something that really in this market is only worth £250k. Unless you have a massive deposit and don't care, or it doesn't affect your LTV re the mortgage, you could well be buying straight into negative equity, or at least be taking one almighty step closer to it. Only really affects you when you sell, but who knows what's round the corner...

I'd leave my offer on the table and be walk away, and would be prepared to lose it. Sooner or later, they'll drop. I've been in ths same boat as a seller. Of course, others will say don't lose your 'dream home' for the sake of say £10k. It's really up to you. Personally, I doubt anyone else will want to pay over the stamp duty threshold for it. Maybe at £280k+, but not when up for £270k.

Jx

ukcarper

hazyjo wrote: »

I imagine a valuer would come in at £250k anyway on a £270k asking price. If they pay the stamp duty, you're still buying something that really in this market is only worth £250k. Unless you have a massive deposit and don't care, or it doesn't affect your LTV re the mortgage, you could well be buying straight into negative equity, or at least be taking one almighty step closer to it. Only really affects you when you sell, but who knows what's round the corner...

I'd leave my offer on the table and be walk away, and would be prepared to lose it. Sooner or later, they'll drop. I've been in ths same boat as a seller. Of course, others will say don't lose your 'dream home' for the sake of say £10k. It's really up to you. Personally, I doubt anyone else will want to pay over the stamp duty threshold for it. Maybe at £280k+, but not when up for £270k.

Jx

I quick search through sold house prices shows plenty of property selling between £255k and £270k. I’m not sure how you can say the house will be valued at £250k without knowing anything about it.

hazyjo

My opinion - didn't say it 'would'. If they want to pay more, it's got naff all to do with me. Just giving my opinion. Of course some house houses will sell for more than £250k, but, as I said, it depends on the buyer's circumstances.

Let's just wait and see what happens once the valuer's been in.

Jx

aj9648

Are these stamp duty mitigation scheme legitamate?

http://www.stampdutycalculator.org/stamp-duty-mitigation-schemes/

hazyjo

Check out previous threads...

CLICKY

or all of what came up on a search:

CLICKY

Jx

aj9648

thanks v much