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Sold!!! Thank you :)
Lilio8
Posts: 101 Forumite
Hello.
I'd just like to thank all those who replied to my posts and my newbie seller questions. The property of my dear latest B. sold at exactly my asking price of £325K. It was all rather nerve wrecking (and hard work!) as I thought that the buyers might have wanted to negotiate to a lower price; but it did not happen. The property went on the market in April, a buyer was secured in May and the sale finalised in July. All in all, it went better than I had expected. Since the asking price was £10,000 above the probate price, I'm going to have to pay capital gains tax. Still, I'm pleased of the outcome (sad to let B.'s house go
) .
This forum has been a life line during the marketing and sale process.
Thank you MSE Forum!
I'd just like to thank all those who replied to my posts and my newbie seller questions. The property of my dear latest B. sold at exactly my asking price of £325K. It was all rather nerve wrecking (and hard work!) as I thought that the buyers might have wanted to negotiate to a lower price; but it did not happen. The property went on the market in April, a buyer was secured in May and the sale finalised in July. All in all, it went better than I had expected. Since the asking price was £10,000 above the probate price, I'm going to have to pay capital gains tax. Still, I'm pleased of the outcome (sad to let B.'s house go
) .This forum has been a life line during the marketing and sale process.
Thank you MSE Forum!
15
Comments
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Congratulations.1
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Congratulations
Quick question: what is a latest BI have a tendency to mute most posts so if your expecting me to respond you might be waiting along time!1 -
Regarding the CGT you can deduct selling fees ( EA, Legal, etc) plus the Estate has a CGT allowance of £3k if not already used.Lilio8 said:Hello.
I'd just like to thank all those who replied to my posts and my newbie seller questions. The property of my dear latest B. sold at exactly my asking price of £325K. It was all rather nerve wrecking (and hard work!) as I thought that the buyers might have wanted to negotiate to a lower price; but it did not happen. The property went on the market in April, a buyer was secured in May and the sale finalised in July. All in all, it went better than I had expected. Since the asking price was £10,000 above the probate price, I'm going to have to pay capital gains tax. Still, I'm pleased of the outcome (sad to let B.'s house go ) .
This forum has been a life line during the marketing and sale process.
Thank you MSE Forum!
1 -
Oh! I knew about the £3,000 allowance. I didn't know about all the above deductions. Thanks about that!anselld said:
Regarding the CGT you can deduct selling fees ( EA, Legal, etc) plus the Estate has a CGT allowance of £3k if not already used.Lilio8 said:Hello.
I'd just like to thank all those who replied to my posts and my newbie seller questions. The property of my dear latest B. sold at exactly my asking price of £325K. It was all rather nerve wrecking (and hard work!) as I thought that the buyers might have wanted to negotiate to a lower price; but it did not happen. The property went on the market in April, a buyer was secured in May and the sale finalised in July. All in all, it went better than I had expected. Since the asking price was £10,000 above the probate price, I'm going to have to pay capital gains tax. Still, I'm pleased of the outcome (sad to let B.'s house go ) .
This forum has been a life line during the marketing and sale process.
Thank you MSE Forum!0
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