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Private Part Exchange (no estate agent, HIP)
Dragosani
Posts: 2 Newbie
Hello. New to the forum but from what I've read so far, I'm sure I'm in the right place to ask a couple of questions.
Situation:
I am considering part-exchanging my house toward a larger house. The sellers are not a builder / company - they are selling via an estate agent.
My house has previously been on the market but a few weeks ago (prior to any of this happening) I took it off the market. The buyers of my house were not introduced by my (then) estate agent so hopefully I'm clear of estate agent fees on my side.
I have no home information / HIP pack as it went on the market over a year ago.
Questions:
Am I correct in thinking that I do not need to obtain a HIP as I am not actively marketing my house?
Is there anything to be done about stamp duty? We are basically agreeing "my house + £X" to purchase their house so presumably the actual purchase/selling price of both houses can be moved around to some extent as long as the £X remains as agreed? Is there scope for saving here?
Thanks for any advice
Situation:
I am considering part-exchanging my house toward a larger house. The sellers are not a builder / company - they are selling via an estate agent.
My house has previously been on the market but a few weeks ago (prior to any of this happening) I took it off the market. The buyers of my house were not introduced by my (then) estate agent so hopefully I'm clear of estate agent fees on my side.
I have no home information / HIP pack as it went on the market over a year ago.
Questions:
Am I correct in thinking that I do not need to obtain a HIP as I am not actively marketing my house?
Is there anything to be done about stamp duty? We are basically agreeing "my house + £X" to purchase their house so presumably the actual purchase/selling price of both houses can be moved around to some extent as long as the £X remains as agreed? Is there scope for saving here?
Thanks for any advice
0
Comments
-
All of your assumptions are correct as far as I'm concerned!
Your properties do need to be of market value, so you can't be totally ridiculous, but market value is pretty subjective so there would be some scope for movement, yes.Everything that is supposed to be in heaven is already here on earth.
0
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