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Buy flat 250k - 2k F&F?
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Thali
Posts: 46 Forumite
Hi there,
I spend quite some time searching for an answer, however ...
We offered for a flat in Wandsworth, London and the sale process is well under way - well, at least our solicitor started the searches. Buying for 250k will almost certainly result in a check over by Inland Revenue, so I want to get this right.
What gives me sleepless nights is - are we paying too much for F&F and will we consequently "end up in prison"?
The flat was on the market for 300k, 275k and finally, 250k - which is quite realistic, although or EA keeps on telling us, we made a bargain and if the vendor would have been less desperate, it would have gone for 260k.
Anyway, the vendor wants - and we agreed on - 2k for F&F. In our opinion, the things are probably worth 1k, pushing it maybe 1.5k.
I'm a coward and although we already spend some money on the solicitor, I'd rather pull out now... On the other hand: we're talking about 0.5 - 1k difference, which seems quite ridiculous.
Included in the F&F are: Washing machine, fridge, freezer and some really nice (fitted in) carpets. Everything is approx. 5 years old.
The Estate Agent advised us (and the vendor) that 2k is everything she (and we) are able to get away with.
Given all that, what would you do? Is the EA right?
Regards,
Thali
I spend quite some time searching for an answer, however ...
We offered for a flat in Wandsworth, London and the sale process is well under way - well, at least our solicitor started the searches. Buying for 250k will almost certainly result in a check over by Inland Revenue, so I want to get this right.
What gives me sleepless nights is - are we paying too much for F&F and will we consequently "end up in prison"?
The flat was on the market for 300k, 275k and finally, 250k - which is quite realistic, although or EA keeps on telling us, we made a bargain and if the vendor would have been less desperate, it would have gone for 260k.
Anyway, the vendor wants - and we agreed on - 2k for F&F. In our opinion, the things are probably worth 1k, pushing it maybe 1.5k.
I'm a coward and although we already spend some money on the solicitor, I'd rather pull out now... On the other hand: we're talking about 0.5 - 1k difference, which seems quite ridiculous.
Included in the F&F are: Washing machine, fridge, freezer and some really nice (fitted in) carpets. Everything is approx. 5 years old.
The Estate Agent advised us (and the vendor) that 2k is everything she (and we) are able to get away with.
Given all that, what would you do? Is the EA right?
Regards,
Thali
0
Comments
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I wouldn't worry too much as it isn't a ridiculous amount of money to be paying for fixtures & fittings.
I'm in the process of selling my house & buying another & the ea,when I'd made an enquiry about offering something for f&f to try to avoid the 3% stamp duty threshold said that in their opinion up to £3k was usually quite an acceptable figure.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
If you do go to prison, remember cons can smell cowards. Get yourself a "daddy" to look after you. A bit of sweet, sensitive man-loving from one person is infinitely better than being used by the whole prison population.
I doubt it would happen for £2k, but ask your solicitor, or tell the vendor that you've been told by HMRC/your solicitor that £2k is too much & that £1k is better. would they pull out for the sake of 0.4% of the sale price? Well maybe, some people are stupid."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0
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