What happens if two people bid the same amount?

[mf1]

"If they are leaving furniture, cooker, carpets etc in the house then it is perfectly legal to pay a reasonable price for them"

This bit is correct.

"and not have it considered as part of the house purchase price"
Sort of true.

" thus keeping yourself below the threshold for stamp duty."
This is not correct. This is the wording of the Certificate in the Deed that the Purchaser signs:

"that the consideration (other than rent) for the sale is wholly attributable to residential property and that the transaction effected by this instrument does not form part of a larger transaction or series of transactions in respect of which the amount or value or the aggregate amount or value of the consideration (other than rent) which is attributable to residential property or which would be so attributable if the contents of residential property were considered to be residential property exceeds €XXXX."

If the effect of paying for house contents separately is that the totality of the consideration exceeds the threshold, you are liable for stamp duty on the price of the house only.

"This is totally legal if the amount you pay is reasonable and not a clear cash payment towards the house itself."

This is fine if you are not sitting on the threshold - once you go over the threshold, the problem kicks in.

mf

 

[murray]

"If they are leaving furniture, cooker, carpets etc in the house then it is perfectly legal to pay a reasonable price for them"

This bit is correct.

"and not have it considered as part of the house purchase price"
Sort of true.

" thus keeping yourself below the threshold for stamp duty."
This is not correct. This is the wording of the Certificate in the Deed that the Purchaser signs:

"that the consideration (other than rent) for the sale is wholly attributable to residential property and that the transaction effected by this instrument does not form part of a larger transaction or series of transactions in respect of which the amount or value or the aggregate amount or value of the consideration (other than rent) which is attributable to residential property or which would be so attributable if the contents of residential property were considered to be residential property exceeds €XXXX."

If the effect of paying for house contents separately is that the totality of the consideration exceeds the threshold, you are liable for stamp duty on the price of the house only.

"This is totally legal if the amount you pay is reasonable and not a clear cash payment towards the house itself."

This is fine if you are not sitting on the threshold - once you go over the threshold, the problem kicks in.

mf

There is no problem at all with purchasing furniture - what if the house was sold as is at 381k - then furniture was sold by vendor in the 'buy & sell' for 5k ? could the purchaser not buy it ? of course he could....

I still think the best way is to go to the house with a well wordrd letter & copy of loan approval. mf1 is correct to the letter of the law - but not in reality........