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Does including (stamp duty paid by vendor) really help when marketing property ?

Our estate agent advises us to pay stamp duty in order to find a buyer. Our property is worth over £250K so we would pay 3%. Does this help? We have also been advised to pay towards legal costs in order to get a good offer. I don't see how this works as one way or another we either pay for these things and ask for more, or take less and they pay the costs. But on paper it sounds ok, do buyers generally look for the seller to pay towards costs? Thank you.

Asked on Apr 15 2012, Selling in London | Report content

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  • I think it sounds good on paper too, it just depends on what your asking price is. These days people can compare properties in an area to know what prices they sell for and what others are asking for. I would say it can only help if you are finding it difficult to sell.

    Answered on Apr 16 2012, Report content
  • Actually I think it does for a certain kind of buyer. The reason for this is that you cannot generally borrow the stamp duty money. A first time buyer, In London who has saved up will appreciate 9 or 10k in cash, even though they understand that they are paying it ultimately. I think for 2nd time buyers with equity it makes no difference.

    Web reference: http://www.diligentinvestments.com/repossessions/

    Answered on Oct 8 2013, Report content

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