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Stamp Duty Above £250k

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I think this has already been discussed on here but I can't find the thread. I'm just interested to know what you think about houses that are priced around £260-270K. It seems obvious to me that any purchasers are going to want to offer at or below £250 to avoid the massive hike in stamp duty. Is that a fair assumption? Do you think these houses are priced up to take into account the fact that they will almost certainly go below the £250K mark? Thanks! :)

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yes, i agree that only offer under the stamp duty.

Thats why i was pissed when Gordon Brown raised the stamp duty...all this did was remove a negotiation point for FTBs and instead all those houses that should have existed under the old stamp duty raised in price.

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yes, i agree that only offer under the stamp duty.

Thats why i was pissed when Gordon Brown raised the stamp duty...all this did was remove a negotiation point for FTBs and instead all those houses that should have existed under the old stamp duty raised in price.

Gordon must keep raising stamp duty to maintain upward momentum in HPI. Once the momentum in HPI stops people stop MEW and the "Miracle Economy" collapses. Like the shark, the HPI/MEW economy must maintain forward momentum or die.

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yes, i agree that only offer under the stamp duty.

Thats why i was pissed when Gordon Brown raised the stamp duty...all this did was remove a negotiation point for FTBs and instead all those houses that should have existed under the old stamp duty raised in price.

Thanks for that. :)

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Totally agree. I was called about a property recently which had originally been marketed at £279000.

Vendors dropped by £10K, now £269000 -and - were prepared to pay the stamp duty in order to get a sale.

Right now, it really doesn't make sense to buy just over the £250K mark.

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I hate to say this, but some are still shifting at this price point. Our next door neighbour put their house on the market a couple of months ago at £270K, and sold to the first viewer in about a week.

I would agree though that ropey stuff at the 250-270K mark hasn't got a snowball's chance in hell of getting the asking price.

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As someone who has just bought in this price bracket, I observed a pretty uniform trend among sellers.

  • Property "worth" or seller wants £250K
  • Seller asks anything up to £280K
  • Seller accepts offers of £245K - £249K

Saw it play out before my eyes at least half a dozen times.

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As someone who has just bought in this price bracket, I observed a pretty uniform trend among sellers.

  • Property "worth" or seller wants £250K

  • Seller asks anything up to £280K

  • Seller accepts offers of £245K - £249K

Saw it play out before my eyes at least half a dozen times.

That's what I guessed might be the case. Thanks for that.

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I wonder how many shady deals go on with sale prices around the 250k threshold. I few years ago a helpful Estate Agent told me I could offer about 258k and dress the additional 8k of it up as payment for fixtures and fitting etc and still pay just 1% stamp duty. I understand this is common practice.

I suspect there may be quite a few dodgy deals involving briefcases full of cash, for sale prices between 250 and 300k.

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I hate to say this, but some are still shifting at this price point. Our next door neighbour put their house on the market a couple of months ago at £270K, and sold to the first viewer in about a week.

I would agree though that ropey stuff at the 250-270K mark hasn't got a snowball's chance in hell of getting the asking price.

I've just seen the same thing happen with a house down the road, but there are other factors at play - it's in the catchment area for one of the best schools in the county so that kind of skews things. If someone wants something badly enough they'll behave in illogical ways! :)

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As I understand it they have got more strict about this, I don't think you would get away with £8k any more.

Yes, my solicitor played this game on my behalf back in the day. I bought my first place when the threshold was £60K. Being green, I put in an offer of £60K — he quickly revised it to £59K for the flat and £1K for the furnishings. Nice of him to steer me right.

But I've used the same solicitor again this year to sell my place and buy another and he told me has to play much more cannily on this, especially at the higher thresholds, as such property/contents splits are subject to very much greater scrutiny now.

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