Newbie Selling question

Discussion in 'Property Finance and Real Estate Loans' started by NewbieSeller, Dec 11, 2017.

  1. NewbieSeller

    NewbieSeller New Member

    Hi I'm not a property professional - we're selling a couple of properties in the UK to an experienced landlord.

    Just had a conversation with their advisor about putting the sale of one of them through at a higher price than we agreed, but I would agree to a loan of the additional value paid back to the buyer on completion.

    I've been told they have solicitors and (non high st) lenders that are quite happy with that sort of transaction.

    Not being a property professional I wanted to check with a wider audience if that's fairly normal thing to do.

    My initial reaction was that it was a no because it didn't feel right, but if they've got professionals that are bound by the various professional standards bodies that are happy to do it who am I to stand in the way? I guess the larger builders do cash back and stamp duty paid type deals all the time.

    Does this sort of thing go on with larger property professionals and I'm worrying about nothing?
     
  2. NewbieSeller

    NewbieSeller New Member

    Oh and that's in England - just in case this is a mostly international audience!
     
  3. Veronica

    Veronica Administrator


    It sounds very iffy to me.
     
  4. Longterminvestor

    Longterminvestor Administrator

    It sounds as though the buyer is looking to book a higher purchase price than the market value for some reason. While there are instances of cashback for property purchases I see no reason why anybody would come back and ask to pay a higher price especially when they have the funds available to purchase today. Why not ask them why they are looking at this particular strategy?
     
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