The Property Podcast ASK451: Can I reclaim these costs? PLUS: Are we biting off too much?
Oct 22, 2024
A listener faced an unexpected hiccup when potential asbestos derailed his property deal, leading to questions about reclaiming costs. The hosts delve into the intricacies of negotiating abortive transaction expenses and advise on avoiding similar pitfalls. Another topic centers on entering the property market through HMO conversions, with insights on the challenges of financing for new investors lacking experience. Should one start small with buy-to-let properties or dive into complex HMOs? Tune in for some valuable strategies and guidance!
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Craig's Asbestos Issue
- Craig's offer was accepted, but the seller backed out after a potential asbestos issue.
- The seller claimed they would move in, but then relisted the property, costing Craig money.
Don't Be Discouraged
- Rob B. advises Craig to view this as a rare, unfortunate event.
- He assures him that such situations are uncommon and shouldn't deter him.
Reclaiming Costs
- Rob D. points out that Craig likely can't reclaim his costs, even against tax.
- He recommends checking with an accountant for specific advice due to potential subtleties.