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When a house is valued over the second stamp duty threshold…

Do people look past the price and assume the vendor will take less to save the purchaser the stamp duty? Or can it put buyers off from offering the lower price and look for a property with the lower price tag? With a price of just over 10% over the second stamp duty threshold, could this look a little too expensive marketed around similar properties at lower asking prices? Should the purchaser be bold and offer low or do they walk away from what looks to be too expensive a property? Your thoughts please.

Asked on Feb 11 2011, House Prices in London | Report content

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  • As the price is about 10% over the limit I would risk a cheeky offer or ask the vendor to pay the difference. The response will depend on how long the property has been on the market (no chance if new on), the vendor's level of motivation and the attitude of the agent handling the sale - none of which you can affect so go for it. The worse you will get is a No

    Answered on Feb 12 2011, Report content
  • Yeah I would offer less or preferably walk away, there are plenty more properties.

    Answered on Feb 12 2011, Report content
  • As an agent we understand that buyers are extremely reluctant to pay just over £250,000 for a property as it adds £5,000 to the cost of moving. Most sellers therefore recognise that buyers wish to make offers up to £250,000 and there is a price bracket between £250,000 and £265,000 in which we do very few deals. Once a property is clearly worth more than others that are available for a below threshold amount the price bounces up and we see more sales at £265,000 to £275,000. To answer your question, an asking price of £275,000 could be worth paying if the home is significantly better than those marketed at lower figures. Make a bid of £250,000 and judge the response, a quick rejection may tell you this is one of those homes that people recognise they have to pay the extra stamp duty to acquire.

    Answered on Feb 16 2011, Report content

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