Stamp duty/other costs

(4 Posts)
Greyhorses Mon 11-Nov-13 13:09:33

Hi everyone.

We almost have our deposit and are now thinking about other costs.

We are looking to buy in the region of 100-125k
We have seen about 3 or 4 houses which may be suitable which are all priced at 135k, all of them have been on the market a long time. Would offers of 10k below the asking price be unbelievably rude? We did not ideally want to go over the stamp duty threshold as we don't have any spare money left after deposit and fees and it seems silly to pay 1% of the purchase price when it is so close to the threshold.
We haven't viewed yet as we did not know if it would be a waste of time for both us and the sellers if we were way out.

Secondly, how much do we need for legal fees etc? We budgeted 2k, is this enough?!

And finally, how do we know what position the seller is in before offering? Can we ask before viewing the house? We are FTB and don't want to be stuck in a chain, can I ask the agent before viewing what position the sellers are in so as not to get involved in a chain at all??

Thanks!

PastaBeeandCheese Mon 11-Nov-13 13:51:57

I would have thought anyone selling that close to the SDLT threshold would expect an offer of below. The worst they can do is say 'no thanks' so offer away. It's not rude.

Your estimate for solicitors fees looks really high. I've paid significantly less than that recently for selling and purchasing. Just give a local conveyancer a ring and ask what they charge to get a better grip on that cost.

You can definitely ask the EA the vendor's position before viewing / offering but I wouldn't necessarily let a chain put me off if I liked a house. It could be there is only a few parties involved so it may not be too bad.

Good luck!

Gingersnap88 Tue 12-Nov-13 00:01:15

I also think your costs look high.

We are purchasing a house for 164k. Our solicitors bill is £2.3k which includes £1.64k stamp duty. Then the survey is around £400.

Good luck smile

specialsubject Tue 12-Nov-13 10:20:12

Just bought in a similar range, solicitor fee £300+ VAT, another £300 for searches and the land registry fee.

be aware that there is only really no chain if the previous occupant is dead or already living elsewhere. 'we'll move into rental' is not always to be trusted. We did when selling but our vendor stalled us until her new property was ready.

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