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Properties sold under help to buy scheme

Ky-An
Ky-An Posts: 41 Forumite
in House buying, renting & selling
Please can someone clarify something for me? I am trying to sell my house which was built 2003. New houses are being built on the same estate but I have checked on the land registry website and some properties are being recorded as being sold for £165,000 and some £135,000. If buyers are using being assisted with the help to buy scheme what sale figure is being recorded.
I have had my house on the market for £138,000 and now dropped it to £128,000. My competition are the new builds.
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Comments

  • MoneySaverLog
    MoneySaverLog Posts: 3,232 Forumite
    The full sale price should be recorded, but these developers are crafty and not all the recent houses sold are showing sale prices to compare against during negotiations.
  • thequant
    thequant Posts: 1,220 Forumite
    Ky-An wrote: »
    Please can someone clarify something for me? I am trying to sell my house which was built 2003. New houses are being built on the same estate but I have checked on the land registry website and some properties are being recorded as being sold for £165,000 and some £135,000. If buyers are using being assisted with the help to buy scheme what sale figure is being recorded.
    I have had my house on the market for £138,000 and now dropped it to £128,000. My competition are the new builds.


    It's not unknown for developers to sell a few houses to themselves for a high price, then that way when they sell to the public and offer a discount. The prospective purchasers think they had haggled a deal when in fact they are still paying well over the odds.
  • Ky-An
    Ky-An Posts: 41 Forumite
    Wow thanks. Guess my house is overpriced then. Bought for £116,950 in 2003 and I need at least £126,000. Only had 3 viewings in a year and property very modern and well maintained. Not sure what to do next.
  • thequant
    thequant Posts: 1,220 Forumite
    Ky-An wrote: »
    Wow thanks. Guess my house is overpriced then. Bought for £116,950 in 2003 and I need at least £126,000. Only had 3 viewings in a year and property very modern and well maintained. Not sure what to do next.


    You need to stop looking at what others are asking, start looking at what others are achieving
  • Ky-An
    Ky-An Posts: 41 Forumite
    Point taken.
  • kingstreet
    kingstreet Posts: 39,315 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Recent (within 120 days) sales of similar property in the area (less than 0.5 miles) is what surveyors use for comparables;-

    http://www.rightmove.co.uk/house-prices.html
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • daisygirlmac
    daisygirlmac Posts: 102 Forumite
    And if you need to walk away with £126,000 this may be difficult as you're just above the stamp duty bracket.
  • charleyroo
    charleyroo Posts: 460 Forumite
    daisygirlmac wrote: »
    And if you need to walk away with £126,000 this may be difficult as you're just above the stamp duty bracket.

    agree with daisy, can you save £1,000 instead to help yourself out by coming in under 125k?
    Spreadsheet-obsessed.
  • ethank
    ethank Posts: 2,197 Forumite
    Holiday Haggler I've been Money Tipped!
    I too would market at £125k.
  • Ky-An
    Ky-An Posts: 41 Forumite
    I suppose I can drop to £125,000 next door sold in 2009 for £131,000 now they want over £130,000. Will give til Spring but have lowered by £10,000 already.
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