Bidding on house: offer money for contents to avoid stamp duty threshold?

N

ndp

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A house I am bidding on has just reached a stamp duty threshold. I cannot afford to go over the threshold as it would cost me over €5k extra in stamp duty alone. Is it possible to offer a few grand extra so for the contents of the house so that I can up the bid without costing me a fortune?

I like the house, but really cannot afford to pay an extra €10k for it, which it would cost if I upped the next bid to over the threshold.
 
The combination of house price and contents is what determines the stamp duty rate although that rate will be payable on the house price only, not contents. So bidding on contents rather than house will save you very little money and won't avoid going up to the next rate.
 
MrMan said:
The loophole is more cash based now!
Click to expand...


Of course this sort of thing does go on all the time. My experience would suggest it is even common practice among some estate agents. However it is fraud. Whatever about an enquiry by the Revenue that I suspect will happen in time to come, anyone who becomes involved in this type of cash transaction will have the worry about what happens if the deal is not honoured or a problem arises. Do you think you will be heard in court or even have any kind of a case where the deal is predicated on a fraud? It is such a foolish move really in this day and age.
 

I'm not sure if that was a dig or not but I will say that it is a common enough occurence even in this day and age, but you won't find a solicitor or EA that will actually be directly involved. Neither profession will have a hand in it but sometimes indirectly facilitate it. Like many things that are illegal in this country, some people just see it as bending an unfair rule.
 
Stick to your guns on the price. The Vendor also knows about the threshold and will be aware that it is a potential sticking price. He has probably even been advised by his autioneer that he is unlikely to go past it. No one prices their property just over a stamp duty threshold expecting to get just over it
 
stick to yuor guns on the price and dont be afaid to put a time limit on your offer,

tell them youll put the offer on for 2 days and if they want it they cn agree to it, else your withdrawing the offer.
 
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