You are just inside band 5 in a climate of rising prices. There is absolutely zero case that your house on 1 November will be worth less than the price you went sale agreed on earlier in 2021.Completed the purchase of a house last month.
Yes. Because the option adds to the market value of the property even if you never exercise it.Do you have to pay tax on something that might not happen?
“chargeable value”, in relation to a relevant residential property, means the price which the unencumbered fee simple of the property might reasonably be expected to fetch on a sale in the open market were that property to be sold on the valuation date in such manner and subject to such conditions as might reasonably be calculated to obtain for the vendor the best price for the property; |
I think you’d be mad to go with anything other than what you paid
Well then the valuers are wrongas the market is above even most professional valuations I have seen.
Forgive me if this is a stupid question, when we value our houses is that valuation the only valuation for the next five+ years like the last time
or do we get to adjust the market value on a yearly bases both up and down as applicable ??
I'm asking as I think in the current property market our houses are slightly over valued at the moment due to lack of supply and though probably not going to change in the short term, it could!!
It does seem recent buyers will be tied more likely to be penalised as the market is above even most professional valuations I have seen.
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