How can I check if parking space is included as sales price

HardCoreProgrammer

I am currently interested in buying an apartment in a purpose-built block. The sellers bought the apartment as new a few years ago.

Not all the apartments in the block come with parking spaces, but the sellers bought one and it is included in the sale. The sellers claim that the extra price they paid for the parking space is not included in the price registered with the Land Registry. (e.g. cost of flat = 200K, car parking space = 10K, actual price paid = 210K, price registered with Land Registry = 200K).

How can I find out if they are telling the truth? I can see the Land Registry price on nethouseprice.com, but it does not tell me whether it includes the price for the parking space. I am reluctant to take their word for it, as it may be a ruse to make buyers offer a higher asking price than they otherwise would.

Any advice on how I should proceed would be much appreciated.

Thrugelmir

There's no relevance to the price they paid.

What's the property worth to you?

G_M

Why does it matter? Totally irrelevant.

What matters is what the property + space is worth today. To you.

How much are you willing to pay? If they ask for, say, £1K more, and you say no, will you later regret not having bought this dream flat?

HardCoreProgrammer

>> What's the property worth to you?
I am afraid I have no idea. I have been checking properties for the last 4 months in my area of interest, and all I am seeing are overpriced properties sticking. There were very few properties sold between 2008-2012, so I am trying to use the sale prices (when the properties were bought as new in 2007) as a benchmark.

> If they ask for, say, £1K more, and you say no, will you later regret not having bought this dream flat?

It is not a "dream flat" I am buying. I cannot afford a property which has everything in my "wish list". This property ticks enough boxes for me to investigate further.


Now, does anybody know if it is possible for me to find this information? Thank you.

roger196

Ask the seller to produce the documents that prove they own the parking space...they will have to produce this to your solicitor in due course anyway. Scrutinise this document as to what they have actually acquired eg it might be a parking space for five years, it might not be designated, what rights you have if someone else uses it etc. Who knows until you actually read the document.
Make your offer conditional on including the parking space.

G_M

If you have no idea what this property is worth to you, I do not see how you can possibly buy it.

'dream flat' was a figure of speech. The question is valid:

If they ask for, say, £1K more, and you say no, will you later regret not having bought this particular flat?