Reducing to Stamp Duty threshold

Dan-Dan

puregeordie wrote: »

Why worry about stamp duty? if its worth £127 or £130 and somebodyy really wants it they will pay it.

Its only £1300 out of £130000. Also some mortgage companies will pay this for you for first timers.

The stamp duty threshold in my opinion is only really apparent when your buying a much more expensive house and then you take a big hit.

The problem is , people searching at this level of purchase power probably regard £1300 as a massive amount of money , plus if you do hold out for 130k and 127k when the market around you tells you it is only likley to sell at 125k , you could be on the market a long time

puregeordie

Dan-Dan wrote: »

plus if you do hold out for 130k and 127k when the market around you tells you it is only likley to sell at 125k , you could be on the market a long time

so accept £127 and you pay the stamp duty for them.

then on the land registry your house has sold for that bit more and looks a little more healthy when the buyer sells.

Gordon_Hose

Buyers worry about stamp duty because even at £127k £1270 is a lot of money.

Don't agree with paying someone elses stamp duty. Not even sure it's legal.

Dan-Dan

puregeordie wrote: »

so accept £127 and you pay the stamp duty for them.

then on the land registry your house has sold for that bit more and looks a little more healthy when the buyer sells.

What`s in it for the buyer ?

It might look healthy , or alternativley they could struggle to recoup what they `paid ` for it

Gordon_Hose

TBH if a place wasn't selling at £127k, it would make perfect sense to reduce to £125k. I would bet my left leg it would get more interest.

puregeordie

Gordon_Hose wrote: »

TBH if a place wasn't selling at £127k, it would make perfect sense to reduce to £125k. I would bet my left leg it would get more interest.

Fair doo's, your left leg it is then.;)

Gordon_Hose

I don't have a left leg

Gra76

We're in exactly the same boat so to speak. Our house was valued last November with valuations ranging between £130-£135k. We put it on the market at £132,950 in November last year. Reduced to £129,950 earlier this year, but we know that we're in that 'no-mans-land' area so close to the SD threshold that we're expecting offers at £125k and not a penny over unless the potential purchaser hasn't cottoned onto the £125k SD threshold.

If it were me looking to buy it I know I'd only offer £125k unless there were 2 buyers having a bidding war, which in todays market I don't see happening (I'm also in the North East so not expecting it by any means).

You just have to be realistic with what you think you'll get. We'd already decided we'd accept £125k if it was offered and we hadn't sold quickly.

puregeordie

Gra76 wrote: »

We put it on the market at £132,950 in November last year. Reduced to £129,950 earlier this year (I'm also in the North East so ).

QUOTE]

Me too and from the NE. Just put mine up for sale and not even live on the internet yet, we had our first interested parties already looking at the property yesterday and they were in for nearly 2Hrs. Not heard anything as of yet.

Cheers,.

Ivana_Tinkle

MiM wrote: »

I had looked at previous threads here that seemed to suggest such incentives were a red herring or in the case of assistance with deposit, illegal. But if there's a way that could make sense, please advise. Thanks.

It's not illegal, but no mortgage company will accept it.