Is it possible to hide your identity when buying a house?

grifferz

G_M wrote: »

Your name will be on the contract that the seller will sign.

Do you think you could enter into an arrangement with a solicitor to buy it for you?

I don't think that you'd have to pay stamp duty twice because of the rule about the actual transaction being the one with the final buyer, if the intention was to always pass it on immediately.

I don't recall the details but this is the rule that people were using to try to avoid stamp duty altogether. That loophole was closed and is now being retroactively pursued, but if you are paying the proper stamp duty once then that shouldn't be an issue.

The Land Registry will know because of the final buyer's name ending up on the transfer deed but by then the sale is done anyway.

Is there a reason why this wont work? Could be costly though.

The limited company method may be cheaper but, as mentioned, the seller could look up the company's directors.

Perhaps a company could be formed with other people as directors and then this company accepts a job to buy the specific property at a specific price and then pass it on. The company enters into a contract to do this and takes pre-payment of the purchase price, with final payment for their trouble to happen after completion of the second sale.

Maybe that would work. Ask a solicitor! Then let us know.

HAMISH_MCTAVISH

Caladan wrote: »

I would have thought the various solicitors involved would have some serious concerns about this. Certainly in my industry anti-money laundering and tax evasion controls are being massively tightened.

The goal is not to launder money, but rather to ensure the buyers name doesn't end up on paperwork the vendor signs.

Buyers solicitor can see the entire financial trail if needed and be relieved of their concerns.

Vendor's solicitor only needs to see a smaller part of it.

I guess for a cash buyer it's not such an issue though. Although you're quite right - very expensive way to do it!

Indeed.

Expensive, time consuming, and not without risk.

Certainly not the sort of thing worth doing when buying a 200K house just to get one up on your ex-neighbour.

In that type of case, simpler by far to try and find a friend or family member with a different surname that can do it on your behalf.

grifferz

HAMISH_MCTAVISH wrote: »

becomes virtually impossible if lending is needed

Oh yeah, I hadn't thought of that. Of course: the lender is not going to release the funds when there is a third party like a company or solicitor in the middle, and the third party isn't going to risk buying the property without knowing the buyer can pay!

dj.boz

As long as I knew you were serious about buying it wouldn't bother me that we had had a 'feud' in the past.

If you tried to hide your identity, then I would be thinking (as a seller) of what are they trying to hide and are they serious.

WellKnownSid

Yes, and after all that effort to conceal your identity, let's say they do sign on the bottom line then suddenly figure out who their mysterious buyer is.

Very likely that they'll feel hoodwinked, and very likely they'll want to do something as payback. Perhaps leaving a few unsavory 'presents' around the house, or inviting the local teenagers via facebook to throw a house-leaving party the night before completion...

Better being up-front and honest - and if you sense it's still a problem then you are the one that can walk away.

missile

Best to be honest and get your solicitor to ask if they would consider an offer from you.

eddddy

missile wrote: »

Best to be honest and get your solicitor to ask if they would consider an offer from you.

Or if the seller has an EA, just ask the EA if the vendor would consider an offer from you.

Alternatively, if you don't think that would work, you could instruct a solicitor to send a letter to something like this:

"My client is offering £x for the property. The offer is conditional on the vendor immediately entering into a 'lock-out' agreement, which I will sign on my client's behalf. My client's identity will be revealed once the 'lock-out' agreement is signed."

This will make it harder for the vendor to back out once they know who you are - but these agreements can be a bit messy, which is one reason they are rarely used.

(And the vendor's imagination will go into overdrive, wondering who you are and why you want his house. He might imagine something like you're a developer and there's some enormous hidden development potential in his house - and push the price up.)

Debt_Free_Chick

Before you even get to the contract stage, your name will be on the Memorandum of Sale which the EA issues to both the Buyers & Sellers.

Would the Seller actually make the connection? If they did, would it matter?

pimento

Change your name(s) by deed poll?

hellokitty08

( Change your name(s) by deed poll? )

:rotfl:love it