Am looking for some advice please!
We want to downsize from a 4 bed detached house to a 2 bed bungalow (final move!). We will retire soon. We have a small mortgage (£30k) which we need to clear and no savings. Running such a large house takes all our cash now that our children have flown. Our house is well decorated, modern and spacious, and well maintained with really no negatives. It has attracted lots of interest and we have had several offers in our 2 months on the market.
Our house is valued at £279,950 (by more than one estate agent). We went sole agency with the one we liked best. Trouble is we cannot get an offer above the stamp duty threshold of £250K! If we sold at £250K we could sell it tomorrow probably to a dozen interested persons.
Do we practically give our house away to move? Our problem is that bungalows within a 5 mile radius of us are at a premium price, and stay around the stamp duty threshold of £250K. Dh will not consider a flat (we have pets).
I have had an idea that we could ask our purchaser to pay our estate agent and conveyancing fees to ease the costs of moving to make the calculations closer to affordable. If we paid off half the mortgage and had lower outgoings in a bungalow it would greatly ease our approach to old age!
Has anyone else every asked a purchaser to pay estate agent bill and conveyancing bills (probably asking them to pay out £6k in total)? I am not sure it is even ethical to ask.
Please or to access all these features
Please
or
to access all these features
Join our Property forum for renovation, DIY, and house selling advice.
Property/DIY
Downsizing! Help needed with getting over stamp duty threashold
38 replies
NotmylastRolo · 12/03/2013 09:14
OP posts:
Don’t want to miss threads like this?
Weekly
Sign up to our weekly round up and get all the best threads sent straight to your inbox!
Log in to update your newsletter preferences.
You've subscribed!
Please create an account
To comment on this thread you need to create a Mumsnet account.