Pricing around the 250k threshold
Discussion
Looking at a property that is probably worth about 260-265k
As a FTB I could basically save 8k if I could buy at 250 and offer 'extras'.
However, very mindful that the price paid for fittings etc would need to be justifiable to satisfy HMRC.
What's justifiable on a property purchase? Is 10k realistic? There's a range cooker that's presumably quite expensive but it's included in the sale price! What about a home office / insulated shed?
And I realise we should just buy a property at 250k but I love it!
As a FTB I could basically save 8k if I could buy at 250 and offer 'extras'.
However, very mindful that the price paid for fittings etc would need to be justifiable to satisfy HMRC.
What's justifiable on a property purchase? Is 10k realistic? There's a range cooker that's presumably quite expensive but it's included in the sale price! What about a home office / insulated shed?
And I realise we should just buy a property at 250k but I love it!
Anyone expecting to get 260/5 for a property these days is dreaming with the market the way it is and stamp duty jump at 250. In my recent buying experience in this price range there is a chasm between 250 and 280 that doesn't get filled. Houses either sell for 250 if they're worth a tad more or dont sell at all. Theres a four bed property near me on for 270 thats still on the market from when I moved 12 months ago. Its worth 250 but the owners wont or cant drop the price.
essayer said:
Looking at a property that is probably worth about 260-265k
It's worth what someone will pay. And no-one (at least no-one sane) will pay that small premium over the 250 threshold. Offer something around the higher 240s and see what response you get. You are probably in a very strong position and need to exploit it. Personally, as a first bid, I'd offer low 240s and ease up only if pressed.
ETA - don't faff around with fixings and contents; it's the house you need to bid on, not what's in it.
essayer said:
Looking at a property that is probably worth about 260-265k
As a FTB I could basically save 8k if I could buy at 250 and offer 'extras'.
However, very mindful that the price paid for fittings etc would need to be justifiable to satisfy HMRC.
What's justifiable on a property purchase? Is 10k realistic? There's a range cooker that's presumably quite expensive but it's included in the sale price! What about a home office / insulated shed?
And I realise we should just buy a property at 250k but I love it!
You could offer to pay the agents fees on top of the selling price, so, say 250k for the house plus 2% or whatever their fee is to the agent- worth £5k to the vendor.As a FTB I could basically save 8k if I could buy at 250 and offer 'extras'.
However, very mindful that the price paid for fittings etc would need to be justifiable to satisfy HMRC.
What's justifiable on a property purchase? Is 10k realistic? There's a range cooker that's presumably quite expensive but it's included in the sale price! What about a home office / insulated shed?
And I realise we should just buy a property at 250k but I love it!
Not a massive amount of buyers around at the mo. Offer 245. If it's rejected - offer 250 and make it clear to the agent that is your highest offer. If they reject again (unlikely) be strong and leave the offer on the table - but leave the agent in no doubt you're serious but cannot go above the threshold. I'd be very surprised if they didn't blink first.
Dear hornetrider,
regards,
Jet
hornetrider said:
Not a massive amount of buyers around at the mo. Offer 245. If it's rejected - offer 250 and make it clear to the agent that is your highest offer. If they reject again (unlikely) be strong and leave the offer on the table - but leave the agent in no doubt you're serious but cannot go above the threshold. I'd be very surprised if they didn't blink first.
Be surprised. I did exactly this and the vendor sold to someone else for just >£250k,regards,
Jet
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