Best and Final Offers and SDLT

[FatAmysSidekick]

It's only the second house that I've had a good feeling about in a year of looking. It needs work doing to it. New bathroom, kitchen, rewiring and the gas is capped so no central heating or boiler! It's on at stamp duty threshold and has other offers in the table so is now going to best and final by 12 today.

I've already offered full asking price and am now considering going over the stamp duty threshold but not sure by how much. The lower threshold seems to be a sticking point for a lot of buyers, so if I venture over do I add on a small amount or 5/10k more?

I realise no one can make the decision for me, but any advice/handholding would be appreciated.

You can offer at the threshold (say £250 000) and offer a little extra for chattels (not fixtures and fittings) but stuff like dishwasher etc - but the amount you pay for these has to reflect their second hand nature - so you can't offer £30k for a list of 1970s curtains and a rickety pair of shelves. Or you factor in going over the threshold and the extra costs that incurs and you offer what you can afford if you really want the house. Emphasise your chain if it is short and can be quick. Think - at what price would I be prepared to pay to get this house, don't second guess others. Good luck.

Thank you HortenMarket. Unfortunately there is nothing in the house, It's a total renovation project. After speaking to the estate agent this morning I put an offer in, £10000 over the asking price. Apparently there are cash buyers interested, so I thought it wisest to go with what I would be happy to loose it at rather then what anyone else would offer.

Crossing my fingers now.

How did you get on?

I had a call yesterday late afternoon asking about my mortgage details. Which is approved in principal with a good deposit and I'm ready to go whenever they are because I have nothing to sell. I also gave them the name of a very good solicitor I would be using. Not heard anything back yet.

Currently sitting on my hands trying not to call until nearer to 5 in case I look too desperate! Thank you for asking Pinkje.