Buyer trying to gazunder! Help!

ACG

Im not sure it is nonsensical, could you imagine paying say £20k in stamp duty when buying a house only to find out 6 months later you will be liable for it when you sell also?

I can see their argument and I class myself as pretty big on morals.

Could you not agree to sell at the agreed price and offer to put £20k in a solicitors holding account for say 12 months, if stamp duty gets transferred over to the seller he keeps it, if it doesnt you get it back?

I have no idea where that stands with things such as stamp duty, CGT, the lender and so on - but could be a way forward.

jimbog

This may backfire as I would imagine if it becomes easier for people to buy (as stamp duty will not be paid by the buyer) then demand would increase and so prices.

Sellers would also try to alleviate this cost of this by raising their asking price.

Crashy_Time

jimbog wrote: »

This may backfire as I would imagine if it becomes easier for people to buy (as stamp duty will not be paid by the buyer) then demand would increase and so prices.

Sellers would also try to alleviate this cost of this by raising their asking price.

So the cost to the buyer is the same as before the stamp duty change? Unlikely to work very well IMO.

jimbog

Crashy_Time wrote: »

So the cost to the buyer is the same as before the stamp duty change? Unlikely to work very well IMO.

I tend to agree. But such is Boris!

Crashy_Time

jimbog wrote: »

I tend to agree. But such is Boris!

All Boris wants to do is milk the sellers now for tax, the buyers are all milked out it seems? The banker class benefit as bubbles grow and as they pop, Joe Ordinary not so much.

lookstraightahead

This happens the other way around too. Sellers wanting to push back dates as it's inconvenient for them to move when they promised they would, Ive walked away as a buyer, and in this instance I would also walk away as a seller.

Crashy_Time

Arthritic_Toe wrote: »

Well done - at least its all over. The guy's still a snake though. Make sure you take all the light bulbs out and leave a turd on the floor.

Slightly OTT IMO, the guy just saw a deteriorating outlook for UK property and acted accordingly.

SunnyCat

jimbog wrote: »

This may backfire as I would imagine if it becomes easier for people to buy (as stamp duty will not be paid by the buyer) then demand would increase and so prices.

Sellers would also try to alleviate this cost of this by raising their asking price.

As a FTB, this could make buying easier, since you only need 10% upfront... which would then mean only 10% of the stamp duty (added to the house price). Saving up for a deposit has been the difficult part and by that I mean the deposit, and the solicitors fees and the survey and the SD...

Crashy_Time

Boris is probably going to say anything and everything between now and Brexit, who knows what changes will actually happen, but in reality most sellers will be looking at big price drops to sell anyway after Brexit so bumping the amount of the stamp duty on to the price won`t make much difference to buyers, which is probably fine by Boris as the PTB need to worry about keeping some transactions moving and extracting some tax, not how much someone thinks their house is worth.

Crashy_Time

csgohan4 wrote: »

The Mirror is just wrong

The info is the same though, wherever you source it from, pretty undeniable that the property party is well and truly over?

https://www.homesandproperty.co.uk/property-news/flipping-property-drastic-fall-in-number-of-londoners-buying-and-selling-on-homes-for-a-quick-profit-a132496.html