Selling a house just over £250k can be a challenge, as no one wants to go just above the stamp duty ceiling.
This poses a problem for a seller if their house is worth just over £250,000.
Buyers don’t want to offer more than £250,000 as they will then incur the higher 3% costs through stamp duty.
This results in dissatisfied sellers who feel they are not getting full value.
A solution one of our clients came up with was to sell the house at £250,000 but on the basis that the buyer will cover the sellers costs (ie estate agents fees, solicitors etc).
This means buyer does not pay stamp duty and the seller gets the full more revenue from selling his house.
Is this clever, controversial or corrupt!?
Please share your thoughts..
