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can we pay sellers EA fees?
jammie*dodger
Posts: 131 Forumite
I know it sounds weird but some friends of ours are selling their house and we'd like to buy it. It's over the £250k stamp duty and they'd have to drop by £15k to bring it under. It's just come on the market and they have pitched it slightly below current values. I'd like to offer them £249,995 but was wondering if we could pay their EA fees as a sweetener and not fall foul of the stamp duty?
Any ideas?
JD
Any ideas?
JD
0
Comments
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jammie*dodger wrote: »I know it sounds weird but some friends of ours are selling their house and we'd like to buy it. It's over the £250k stamp duty and they'd have to drop by £15k to bring it under. It's just come on the market and they have pitched it slightly below current values. I'd like to offer them £249,995 but was wondering if we could pay their EA fees as a sweetener and not fall foul of the stamp duty?
Any ideas?
Their solicitor would realise that there is no bill from the EA and it would probably get found out. Solicitors won't play ball with evasion, but should help with avoidance.After the uprising of the 17th June The Secretary of the Writers Union
Had leaflets distributed in the Stalinallee Stating that the people
Had forfeited the confidence of the government And could win it back only
By redoubled efforts. Would it not be easier In that case for the government
To dissolve the people
And elect another?0 -
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What if we just gave them the fees in cash?
That is what I would do. Let the transacation go through and once everything is sorted (o.e. you are moving into their house) then pay the fees in Cash/cheque.0 -
Their solicitor would realise that there is no bill from the EA and it would probably get found out. Solicitors won't play ball with evasion, but should help with avoidance.
Bit confused?
I always pay my EA in a brown paper bag, my solicitors are informed right at the start of the process that I deal with my EA's bill direct.
Never once had any questions asked.0 -
If they're your friends I'd have thought that EA fees might not come into the equation at all? Just a thought.0
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jammie*dodger wrote: »I know it sounds weird but some friends of ours are selling their house and we'd like to buy it.
Why would there be any estate agent fees? Did the EA introduce you to your friends?0 -
exactly, its a private sale, no need for EA in this transaction. ask them to drop it to 235 and they dont pay EA fees at all because they dont need to0
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Not at all. If you do it to avoid stamp duty, then it's evasion. In this case, vendor, buyer and EA have to collude and I think it might out. In your case if you were only avoiding rather than evading, then there would be no issue.pickles110564 wrote: »Bit confused?
I always pay my EA in a brown paper bag, my solicitors are informed right at the start of the process that I deal with my EA's bill direct.
Never once had any questions asked.After the uprising of the 17th June The Secretary of the Writers Union
Had leaflets distributed in the Stalinallee Stating that the people
Had forfeited the confidence of the government And could win it back only
By redoubled efforts. Would it not be easier In that case for the government
To dissolve the people
And elect another?0 -
Unfortunately we didn't know it was on the market until the EA told us. We were registered with the agent as potential buyers and we got a call from them telling us it was newly on. It only then dawned on us that this was our friends house. She didn't want all the questions regarding their move in the playground until she was certain they were moving. Hence - EA fees would now have to be paid.
bad luck really.0 -
In that case you just tell your solicitor that its a private sale (believable as you are buying off friends). Tell the EA that you are paying him privately (no VAT) and no invoice. win/win.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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