Stamp duty and houses on at above threshold

lkalka

Like I say I'm no expert but I know someone else who did exactly this.

I wouldn't have though 2.5k would sent any alarms going but it would be interesting to hear other thoughts on this. Ask what there leaving and work it out from there by the time you add up an oven/hob, curtains, carpets you could soon legitimately rack up 2.5k I would have thought.

Jorgan_2

Addy1 wrote: »

Would the inland revenue not be on to this like a flash?

It may well stand out as its so close to the threshold. It depends on what those fixtures & fittings are.

Have you checked that the property isn't in an exempt area?

Trying_to_be_good

m00m00 is right - if you can hold your nerve, they're likely to accept it in a couple of days or weeks.

Only once did I ever manage to hold my nerve like this, and got a call a few days later to say they accepted my 'best and final' offer (which was actually more than the top of my budget - whole different story!).

Addy1

It's not in an an exempt area unfortunately.

It may be more difficult to actually come up with the 2.5k than the stamp duty tho as it wouldn't be able to be put on our mortgage would it?

It is a 2 bed semi so the carpets alone would be worth a fair bit, he also said he would leave the shed which isn't on the details and the cooker we would like as well, so I suppose that could add up easily to 2.5k

Jorgan_2

lkalka wrote: »

I wouldn't have though 2.5k would sent any alarms going but it would be interesting to hear other thoughts on this. Ask what there leaving and work it out from there by the time you add up an oven/hob, curtains, carpets you could soon legitimately rack up 2.5k I would have thought.

I doubt if you could legitimatley rack up £2,500 very quickly. The Inland Revenue would be looking at second hand values, which are generally low. Is the cooker/hob built in? If so it can't be included. A second hand one is worth approx £50-150. How much for second hand carpets?

I would advise Addy to speak to his solicitor on this matter before making any offers with fixtures & fittings as an 'extra'.

Addy1

I am a bit scared to do this, it does seem dodgy ground.

I am a "she" by the way;)

Gorgeous_George

m00m00 wrote: »

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.

NO! You offered £124,999. £125K sound so much more!

£125K sounds more than £124 - something (and it is).

£9.99 is a retailer's price for £10.


My agent told me that they vet prospective buyers to confirm their status. This is good as I do not want time-wasters. However, if a buyer makes an offer and refuses to prove status, the EA will pass the offer on and will point out that they chose not to prove status. I would then proceed with care to avoid time-wasting and unnecessary expense.

GG

Addy1

Would that not have made us liable for stamp duty?

Too late anyway but thanks, might help for future offers.

Doozergirl

Addy1 wrote: »

Also with regards to above post, the EA just rang and said offer not accepted, but that the vendor is looking for about 130! So if I had put in 135 as the poster suggested I would have just wasted 5k of my hard earned money!

Great news! I'm glad they've given a price already. I would leave a couple of days, but I would raise my offer slightly saying it's all I could afford Perhaps go for another viewing, let them feel how close they are to a sale

Jorgan_2

Addy1 wrote: »

I am a bit scared to do this, it does seem dodgy ground.

I am a "she" by the way;)

You don't have to be scared of it, as long as the F&F are genuine. If it is something you are thinking of doing, get a list of items from the seller that they are willing to leave, then speak to your solicitor to see what they say on the issue.