Not Sure What i should do - or have to pay.

N

nallan

Guest
hello all, maybe one of you bright sparks can help me, I have a buyer for my house, just come up last week and said I want to buy your house, will you take 600.000 ?, so my question is, I still have 220.000 left on my mortgage - i should also say that I built this house in the country, dont know if that makes any difference. Would I have to still have to go through a solicitor to sell my property?, and will I have to pay Capital Gains Tax on this transaction?, what procedures would I have to go through? and oops! there is one more catch, they want to move in - in 6weeks..!!! any help would be appreciated.
 
Re: Not Sure What i should do - or have to pay..!!!

Firstly for that amount of money get a solicitor it should be less than 5K.

If the house is your primary residence you will pay no tax on the sale.

But it seems you did not plan to sell the house so think about where you will live and the disruption to your life.

Wen you buy another place with fees and stamp duty you may be turning your life on its head for a small or no profit.
 
Re: Not Sure What i should do - or have to pay..!!!

You will need to instruct your solicitor. S/he will organise for the deeds to be passed to the buyers solicitor, look over contracts etc.

Your solicitor will organise to have your current mortgage paid in full to the lender from the proceeds of the sale.

p.s. Slow down - these things will take time and delays can occur on either side.
 
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