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House built 1980s, please help!
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I bought a flat very cheaply because I bought it off a relative and we did a deal with insurance policies and shares to bulk it out to a more reasonable price. It did mean that when I sold it I had a lot of queries about why it was so cheap when I bought it.If you always do what you have always done, you will always get what you always got!0
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twinkle123 wrote: »it was not an ex council house, it is a posh area now.
It was not at all unusual for the odd council house to have been located in very nice areas, especially in more rural areas/villages.
In fact my father-in-law was able to to purchase his ex-police house as a RTB, which is in the best street in his town and is probably worth £750k even in today's market!If you feel my comments are helpful then I'd love it if you 'Thanked' me!
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As others have said the old price is irrelevant the only thing that matters is what similar houses in the area have sold for recently. have you investigated this through rightmove? am sure you can see previous prices for houses in the area on the site if you type in the postcode?Politicians and diapers have one thing in common. They should both be changed regularly, and for the same reason.0
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Was it built in the early 1980s or late 1980s? Was it built by a national chain or a local builder? I wonder if it was a local builder, who went bust or did a dodgy deal to avoid tax.
Or could it be a simple error, and it should have been recorded as £80K not £8K ?0 -
It could be that the seller originally part exchanged their former property with the original developer, and the £8000.00 was "equality money", being the difference between the value of their old property, and the new one. It saved the purchaser stamp duty.
In any event, it does not matter now.0
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