selling house with contents

H

helmc

Guest
Are there tax implications for selling my house with contents included?
 
Sell house at what ever price - sell contents separately to buyer for another amount?
 
The question is too vague.

It may relate to a stamp duty query or a CGT query.

Outside of tax, a purchaser may or may not have any interest in acquiring contents. If its an investment property, it might be attractive. If its a buy to live in, a purchaser may or may prefer a clean slate.


mf
 
Also, the valuer acting for the purchasers mortgage lender will have to include a value for the contents (usually quite small as they are considered 2nd hand goods) but the bank will not lend for this portion of the sale price.

i.e. if the sale price is 200,000 and the bank is giving a 90% mortgage, the valuer values the contents at, say, 5,000, then the bank will only lend 195,000 x 90%.
 
"Also, the valuer acting for the purchasers mortgage lender will have to include a value for the contents (usually quite small as they are considered 2nd hand goods) but the bank will not lend for this portion of the sale price.

i.e. if the sale price is 200,000 and the bank is giving a 90% mortgage, the valuer values the contents at, say, 5,000, then the bank will only lend 195,000 x 90%."

Re: the above, I can't speak for every lender, especially in today's market, but I bought my house fully furnished and I was given 92% mortgage and the cost of contents was not considered in any way, shape or form.

As to OPs original question, I would imagine if the contents are included as part of the sale (as in my case), I can't see that there would be tax implications.
 
The buyer might save on stamp duty.
Other than that, probably not. You will need to include it in the contract that contents are included.
 
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