We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Confused by previous prices on Land Registry
Options
Kessie1
Posts: 14 Forumite
Hi there
Just wondered if anyone could shed any light on this for me?
We viewed a house today, we are second time buyers with no chain, as we are BTL our house and our tenants are hoping to move in May 09. We have a good deposit, around 40k. House we saw is priced at £99,950 and we are going back for a second viewing on Monday. House was a real mess, on the EA website it looked very dated, however when we got there it was even worse as the vendors seem to have started some renovation work since putting it on market in every room, but have made it worse - missing floorboards, plasterboard coming off walls, dodgy plumbing work, bricks all over back yard, tools all over house. I said to DH on the way home, did the house 'speak' to him, he said 'yes it said HELP'. :rolleyes:
The EA who showed us round was not very pleased as she said the photos were now all wrong on the website and the vendor should have let them know what they were up to. She said that the owner had been an elderly man who had died and the house was now been sold by the family. We also had a chat about how much it would cost to put things right and how they would be lucky to get more than 65k in its present state.
So this all seemed great and we were talking about putting in a low offer next week, starting at 60k. When I got home I checked the land registry sales on that street to check out previous prices and the house we looked at was sold for £149,950 in 2006 :huh: How would an elderly man buy a property for that amount only 3 years ago?
Is there a logical explanation for this? Thanks
Just wondered if anyone could shed any light on this for me?
We viewed a house today, we are second time buyers with no chain, as we are BTL our house and our tenants are hoping to move in May 09. We have a good deposit, around 40k. House we saw is priced at £99,950 and we are going back for a second viewing on Monday. House was a real mess, on the EA website it looked very dated, however when we got there it was even worse as the vendors seem to have started some renovation work since putting it on market in every room, but have made it worse - missing floorboards, plasterboard coming off walls, dodgy plumbing work, bricks all over back yard, tools all over house. I said to DH on the way home, did the house 'speak' to him, he said 'yes it said HELP'. :rolleyes:
The EA who showed us round was not very pleased as she said the photos were now all wrong on the website and the vendor should have let them know what they were up to. She said that the owner had been an elderly man who had died and the house was now been sold by the family. We also had a chat about how much it would cost to put things right and how they would be lucky to get more than 65k in its present state.
So this all seemed great and we were talking about putting in a low offer next week, starting at 60k. When I got home I checked the land registry sales on that street to check out previous prices and the house we looked at was sold for £149,950 in 2006 :huh: How would an elderly man buy a property for that amount only 3 years ago?
Is there a logical explanation for this? Thanks 0
Comments
-
because he has saved up for it.....erm sold a huge house to live in a smaller one....left loads of money.
could be many reasons
What I don't understand is why you are concerned about it.If you find yourself in a fair fight, then you have failed to plan properly
I've only ever been wrong once! and that was when I thought I was wrong but I was right0 -
Maybe he downsized, bought it for cash, had money in the bank.
Any number of reasons, really.Are the words 'I have a cunning plan' marching with ill-deserved confidence in the direction of this conversation? :cool:0 -
because he has saved up for it.....erm sold a huge house to live in a smaller one....left loads of money.
could be many reasons
What I don't understand is why you are concerned about it.
Snap! Beat me by a whisker!Are the words 'I have a cunning plan' marching with ill-deserved confidence in the direction of this conversation? :cool:0 -
He might have downsized after losing his wife or something.0
-
Thanks. I think my concerns rose from the fact that the house felt like it hadn't been touched for years and years and I made the presumption that the elderly man had lived there a long time. I guess I was thinking that if he did buy it in 2006 with loads of money, then surely he would have done it out? ETA - its not really a house you would downsize to, its a big 3 bed terrace in the middle of nowhere - ex-mining land.
Apologies if my post sounded neurotic! Think I am over-analysing and very mistrusting after quite a few let downs. Said to a friend today that I have had far too long to think about things as we've been trying to move house since Dec 07.0 -
Because in the 3 years since he bought it, house prices have dropped and by the sound of it, the place is a mess and needs loads of work and cash thrown at it!! All that equals a much lower price.
I would consider very seriously how much cost would be involved to get this house back up to a normal level, and then see what other places around are selling for in a similar state before thinking you are getting a bargain.
And I just saw ex mining land, so would want detailed surveys.
"Life is difficult. Life is a series of problems. What makes life difficult is that the process of confronting and solving problems is a painful one." M Scott Peck. The Road Less Travelled.0 -
Old people are happy buying old-fashioned houses and doing nothing to them.
My parents did that... the previous owners left their old carpets in, old curtains, most furniture. 13 years on and it's all the same, not a spot of redecoration has occurred.
People never used to buy new/have makeovers. Wed' buy a house that was OK and live in it.0 -
I am an elderly man.
Me and my wife just upsized last year.
We did it to be near our grandchildren.
We see them all nearly every day now.
Our house cost several times as much as the house we are talking about here.
There is no reason whatever why some elderly people could not afford almost any price................................I have put my clock back....... Kcolc ym0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.1K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards