Private Sale

pbfhpunk

he's said it'll be a cash sale so no mortgage required. Does that change things - apart from making it faster?

Thanks

Helen

prutter

Will make it faster. Your solicitor will still handle the money.
Lets hope he wants it - will save you alot of cash and hassle.....
Although could make timelines tricky for finding your next place.

ds1980

bite his hand off! if going with estate agent you should be able to get .75% i never pay more than 1% including VAT. Just got to be a bit cheeky.

pbfhpunk

the house we're looking at is being sold by a couple splitting up so I'm thinking they may already have alternative accomodation, but that's just what I'm hoping!!

Will the money I have left after paying off the mortgage be taxed?

Thanks

Helen

pbfhpunk

another thing - as you seem to really know your stuff!! - I asked this on the mortgage board but not had a reply:

Hi can someone tell me how far back they go when doing searches? when I was in the Halifax she said they only went back 3 years then when filling a form online L&C asked was adverse credit in the last 2 years. Also if I had CCJs or adverse credit that no longer shows on my credit file do I put yes for adverse credit or no?!


Thanks

Helen

prutter

The money left after paying your mortgage will not be taxed, providing the property was your primary residence. ie. you lived in it for a certain amount of time - not sure exactly, but think it's 3 months or so.

Credit check searches I'm not too sure on. I'm sure someone else will be along to help.

I'm no expert. Just involved in a sale and purchase at the moment. Most of what I've learnt has been from reading these boards and personal experience

pbfhpunk

cool, well thanks, you've been tonnes of help!! Hope it all goes well with your sale and purchase.

We're of to see my bank about a mortgage and if they can't offer anytihng decent - which looking on their site I don't think they can - then we're off to a broker.

Thanks again

Helen