Quick Question!

Gleeful

Can anyone suggest why a property would be sold for £20,000 in 2006 (height of property boom) when other houses on the same street were going for £90,000 ish?

We were thinking condemned? How could we have this confirmed?

Thanks.

m_13

My parents house sold for £230k as a freehold property but the people who live there only own a share of the property and so on the land registry it reports it was sold for £90k and is a leasehold property because that's what they paid. The other £140k was paid by the person who owns the remaining share of the house and is the leaseholder now.

PasturesNew

Fire, flood, d4mnation.
Google the postcode, see if you can spot any planning applications to extend it.
Google the road name and the word "fire".
Could have been non-standard construction too. Damp/rank and unmortgageable.

safesound

There is a house just up the road from me that sold for 20K a few years ago. I always wondered about the price because its a beautiful detatched double fronted cottage with loads of land. I assumed it was either a clerical error and it actually sold for 200K or some kind of tax dodge as it had sold for 190K about 2 months prior.

scottishblondie

Partial share perhaps? It looks like the flat upstairs from me sold for £50k once but it was actually a 1/3 share from one of the guys that owned it.

tyllwyd

Sale between family members at an artificially low price?

WelshNic

If it's new build it could be part ex.