Price paid missing from deeds

michael1234

I'm thinking of buying a property and I've noticed that the last sale date and value from zoopla doesn't match what I'm reading in the deeds downloaded from the land registry.

For my own house the land registry deeds show the date and price paid under the "B: Proprietorship Register" section but in the house I'm thinking of buying there is no price information. Only the date which is much more recent than the sale date given out by zoopla.

Is there a reasonable explanation for this?

Alderbank

The Land registry do not report price paid when it does not appear to be a plausible price for that property. A common example is when a property is gifted or left in a will, where the price paid is £0.

michael1234

Many thanks for that. Do you know if it is possible to get that information? I guess somehow zoopla must have?

da_rule

Only if the previous transfer document or assent is available. Does it say 'copy filed' anywhere in relation to the last transfer?

On a slight side note, why does it matter? The price paid then was what ever was agreed between the parties or the beneficiaries or a will etc. What it is worth now has no reflection on that. What it is worth now is what ever a buyer is willing to pay for it.

michael1234

Yes, under the Charges section is does say "Note: Copy filed" !

Regarding the side note, I guess the price someone is willing to pay (me in this case) is partly based on what other people have paid in the past.

Copy/pasted below with XXX for the personal details.

C: Charges Register
This register contains any charges and other matters
that affect the land.
1 (07.09.2001) A Conveyance of the land in this title and other land
dated 23 November 1984 made between (1) XXXX
of Finance (Vendor) and (2)XXXX Limited (Purchaser)
contains covenants.
NOTE: Copy filed.

G_M

The 'copy filed' simply means that the LR have a copy in their files of the conveyance dated 1984.

Zoopla simply bulk buys data from the LR. If the LR does not have the
price paid, Zoopla won't have it either.

Data excluded from Price Paid Data

Our Price Paid Data includes information on all residential property sales in England and Wales that are sold for full market value and are lodged with us for registration.
Our Price Paid Data excludes:

• sales that have not been lodged with HM Land Registry
• sales that were not for full market value. By this we mean, the sale of part of a property, a share of a property or the sale of a property at a discount. For examples a transfer between parties on divorce
• transfers, conveyances, assignments or leases at a premium with nominal rent which are:
  • ‘Right to buy’ sales at a discount
  • subject to an existing mortgage
  • to effect the sale of a share in a property
  • by way of a gift
  • under a compulsory purchase order
  • under a court order
  • to Trustees appointed under Deed of appointment
• Vesting Deeds Transmissions or Assents of more than one property

https://www.gov.uk/guidance/about-the-price-paid-data

AnotherJoe

michael1234 wrote: »

Regarding the side note, I guess the price someone is willing to pay (me in this case) is partly based on what other people have paid in the past

Your guess is wrong. Unless you are happy to never be able to buy because you are always bidding too low*. Because if I bought a house from a relative at half the "going rate" as a gift , compared to what others in the same road were selling at, or at half price because it was a wreck and needed ££££'s spending on it to make it habitable, you'd offer me less than on the identical house next door ?

"OK Mr Seller I know the identical house next door sold for £200k a month ago but I happen to know your Aunt Maude sold it to you for £100k since you'd looked after her, so I think £120k is a fair price, don't you?" Good luck with that strategy !!

A house's worth is dependent upon its condition and the local market. Past prices are completely irrelevant.

*Or I suppose too high but I guess your logic wouldn't see that. , Take Northern Ireland where prices may have halved. Would you still pay based on the last sale price even if it's more than double what the going rate is now ?