Stamp duty and houses on at above threshold

Addy1

Ok I will be brave and go in at 125.

I suppose it gives me room for movement upwards.

I hadn't even thought about trying to get away without stamp duty till this afternoon!

I am going to get my Dad to do it cos I will probably do something stupid and blurt out that we would be willing to pay near to asking price!!

Eeek fingers crossed for tomorrow.

m00m00

go in at something like 124975

not 125k exactly

that way it seems you are really stretching yourself, rather than trying to get a specific 'bargain' price.

good luck, and let us know how you get on.

gordonstights

Addy1 wrote: »

I am going to get my Dad to do it

What?! And miss an opportunity to feel the excitement of actually negotiating on your first home??!

Good luck

Doozergirl

Addy1 wrote: »

Ok I will be brave and go in at 125.

I suppose it gives me room for movement upwards.

I hadn't even thought about trying to get away without stamp duty till this afternoon!

I am going to get my Dad to do it cos I will probably do something stupid and blurt out that we would be willing to pay near to asking price!!

Eeek fingers crossed for tomorrow.

I know how you feel. When I bought my first place, I offered £2k less than asking and felt like I'd got the bargain of the century :rotfl: Different market at the time, but I'm not sure a slower market would have made much difference to me either back then.

Good Luck

tux130582

while on the subject of stamp duty etc, does everyone think houses for 265k or 270k are priced to be offered 250k to miss the next band of 3%?

thanks

Doozergirl

tux130582 wrote: »

while on the subject of stamp duty etc, does everyone think houses for 265k or 270k are priced to be offered 250k to miss the next band of 3%?

thanks

Very, very often, yes.

I'd view plenty of houses at £250k to make certain the one offered at £265k presented better value for money.

strongboes

I would certainly offer under 125k, there is no need to be embarrassed. It's money your talking about, your not going to pay an extra 5k for something just because you are embarrassed are you?!?!?!

By offering lower you can also put doubt into the sellers mind about the valuation. We are now in a bear market, not a bull one!

RubyShoes

I wouldn't be embarrased at all.

I am currently purchasing a house that was originally on for £150k (vaaaaaaastly overpriced IMO!). It was reduced to £145k, then to £135k. I viewed it when it was on for £135k. I figured I'd go for it, and put an offer of £124,781 in. This was rejected. I gave it 2 days, before calling back and making an offer of £133k, on the basis that the vendor paid the SDLT and solicitors fee's to a value of £2000.

Vendor accepted. He is happy, he is sold, and got near to asking price, and I am happy as I don't have to worry about the SDLT (or sol fee's!)

I'd definately go for it. And then see if you can get them to pay the SD if they won't accept your first offer.

Addy1

Thanks for that, it is good to know that tactic has worked for someone. It is looking like a better and better idea as I am assuming our first offer will be rejected.

Addy1

UPDATE

My dad put in the offer of £124999 and they then called me and said they wouldn't put the offer forward as they didn't know if we could afford it. They made out that they were the EA but turned out that they were mortgage advisor who I had refused to see. I said I wasn't prepared to discuss my salary but that I had a 10% deposit and had been in discussion with a mortgage advisor who had told us to go ahead and put in an offer. He laughed at me and said he was going to ring the mortgage advisor (L&C) and ask them my salary, I said I didn't think they would give him that info. He just said "it's not a big deal, just tell me your salary and outgoings"

I was really upset and told the mortgage brokers, they said not to tell them that info, and that they had to put in the offer. My dad then rang back and said that he wanted them to put the offer in to the vendor.

If I was a vendor I would be furious that the EA is refusing to put offers in! Surely this is illegal? I heard that they cannot treat you any differently if you don't use their mortgage broker but this seems to be what they are doing.

The said the manager would put in the offer (hope the young new EA we have been dealing with still gets the commision if it goes through) and we have to wait and see now.

:rolleyes: