How to find the prices

HouseBuyer_2

of similar houses that I'm looking that has been sold recently in my area?

https://www.houseprices.co.uk tell me the price and the type of house (but only up till march).

I was wondering if it's possible to cross check with rightmove?

Want to put in an offer that is approx 15% lower than asking price but want to check that the property is priced ok for the area.

Also, does anyone know the implications of offering 250k and a cash sum of 10k for furnishings and fittings so we would be under the 3% threshold? This was advice from a work colleague (who was informed by an EA, so not entirely sure how this is viewed, thought it was best to ask here!!)

Captain_Mainwaring_2

I'd just offer 249,999.

OK, perhaps if it was reduced from 350K down to 260K then this may be stronging it, but otherwise give it a go.

Do you know what they paid for it?

paddcomp

Sorry can't help with searching for prices other then what you've mentioned, estate agents can't publish sold prices as this would break their confidentiality with the seller / buyers. However this shouldn't stop them advising you as to the market worth of similar properties verbally.

As for the £250K for the house and £10K for the furnishings, to drop below the stamp duty limit is perfectly legal and above board. Just bear in mind that the £10K for furnishings can't be added to the mortgage, only the £250K will be classed as the purchase price (or £249,999).

HouseBuyer_2

They bought the house in 1985, I have no idea how much for as it's not on houseprices/nethouseprices. It's on the market for 289,950 (which looks as if they want 275,000)

http://www.rightmove.co.uk/viewdetails-20397527.rsp?pa_n=1&tr_t=buy

The last detached house sold on the same road last year for 337,000 and a semi-completed this year in Feb sold for 285,000. Their price isn't too unreasonable (in the current market), they are moving abroad.

They have had 3 offers, 1 rejected as it was too low, and the other 2 are part of chain waiting for their houses to sell. So we are in a reasonable position to bargain but can wait another 3 months until they get desperate....

PasturesNew

http://www.houseprices.co.uk at the moment is up to 29/04/08 although it should be remembered:
1] Some never seem to appear
2] Any bought/sold as a business won't appear
3] Some are just wrong
4] Some are just late as the solicitors don't always seem to get their finger out

Land Registry have only been publishing prices since April 2000, so it won't be on any of the lists.

Here is the link on houseprices to that road:
http://www.houseprices.co.uk/e.php?q=rolfe+drive+rh15&n=10

PasturesNew

HouseBuyer wrote: »

Also, does anyone know the implications of offering 250k and a cash sum of 10k for furnishings and fittings so we would be under the 3% threshold? This was advice from a work colleague (who was informed by an EA, so not entirely sure how this is viewed, thought it was best to ask here!!)

You can offer the amount over £250k for "furnishings" but NOT for "fixtures and fittings". All the furnishings would have to be listed AND they would have to genuinely be worth the amount.

Any transaction around about this amount may be investigated by the Tax Office and if you've offered £10k for a pair of old curtains and a carpet then they'd hammer you.

m1ntie

[quote=paddcomp;
As for the £250K for the house and £10K for the furnishings, to drop below the stamp duty limit is perfectly legal and above board. Just bear in mind that the £10K for furnishings can't be added to the mortgage, only the £250K will be classed as the purchase price (or £249,999).[/quote]

WRONG

The Revenue & Customs take a very close look at properties sold for £250K and the price paid for furnishings fittings etc. You are even asked to list them all with the price/ second hand value - which will only be a fraction of the new price. How much do you think you would get for all your furnishings if you were selling them in the local paper - no where near £10,000.

If the revenue suspect that you have falsified the value - they will come after you for the additional S/D plus a substantial penalty. think very carefully before entering into a transaction of this nature.