Help, buyer asking us to pay stamp duty!

[jenim1211]

Just heard from our agent this morning that our buyer has seen something which suggests stamp duty is about to change Next month and want us to now pay the stamp duty on their behalf!!

We can’t afford to lose this buyer but haven’t exchanged yet. We also can’t afford to pay the stamp duty. I haven’t replied yet as I don’t know where to go now. Are these changes expected to impact previously agreed sales or only future sales as this will be a right mess.

They are not changing next month, it’s just a suggestion that’s in the news, it’s far from reality. Go back to your estate agent and ask them to inform the purchasers that they are wrong.

No, the buyer needs to factor Stamp Duty into the price, just like you need to factor it into your next move. Otherwise you will be paying twice.

Absolutely fucking not.

Are they buying from overseas? Asking the seller to pay your stamp duty is crazy

It’s a suggestion. The chancellor has not ruled it out, but also has not said it is going to happen.
In any event it wouldn’t be introduced straightaway as obviously it would change pricing.
Tell them to jog on.

That's odd. The buyer is responsible for paying their own stamp duty. Just say no.

Ridiculous! Just say no.

It’s just a suggestion of things being considered. It

Like other pp says it's just an idea, nothing planned yet. If it does come into force then buyers will just add it onto the sale price so it's a bit self defeating. Say no this is not correct and sorry but you'll not be paying. Your e.a. should keep themselves up to date.

Oops! It would not take affect any time soon. If and when it did there would be a warning, like ‘from April 2020 these are the changes’ (like when they increased the stamp duty).

If any changes to stamp duty happen you can reevaluate. Until then they're taking the piss.

Tell them to get a wriggle on with exchanging then, in order to avoid any imaginary stamp duty increase.

Be 100% firm and clear that OF COURSE you won't be paying it.

Chancers.

It might be in the next budget which is probably going to be some time between end of October and end of December.

Unless they want to not exchange till December and move in sometime between Christmas and New Year then they are going to have to suck it up or lose the house

Sorry end of November

They can ask, and you can say no.

Until the money is in the bank, the house isn't sold. But you can relax a bit once contracts are exchanged.

Our buyers were very flaky after the initial reporting of BJ's ponderings a few weeks ago (in the Daily Mail of all places!)

They were in a good position (no Chain) and we were almost ready to exchange, so in an effort to keep the sale we offered to meet them half way. They still withdrew, so we suspect there was something else going on as well.

Thankfully we received another offer a couple of days later.

I don't think these changes will come into effect in the near future (if at all) but clearly it is not helpful for anyone in the house buying/selling process at the moment

You actually offered to pay half!

Well you can see where that got you, and I hope you are wiser next time.

Maybe they'd come back next time and ask you to pay half the purchase price and their solicitor's and surveyor's fees.