Sold But Not Sold?

fallen121

A property I would be interested in buying if it ever came on the market again which I KNOW has been lived in continuously by the widow of the person who originally purchased it in the 1990s is showing on Scotlis as having been sold in 2015. However, under "last purchase price" it says "No price available".

This is a bit rubbish as I was hoping to get some idea of what it was worth.

Is it possible that the widow has taken equity release in the form of what I believe is known as "reversion" and would that show on Registers of Scotland as a sale?

The widow has children so possibly she might have gifted the property to them? Would that show as a sale?

This always seems to happen whenever I find something I like! :mad:

hazyjo

Prices from 2015 are unlikely to help you today anyway.


Could it have been sold at auction or repossessed?

googler

May have taken equity release, remortgaged or similar.

If you want to know what it's worth, look up Zoopla or similar for comparable sold prices in the area for same style of property.

Or ask a local surveyor to do a "drive-by" valuation.

fallen121

hazyjo wrote: »

Could it have been sold at auction or repossessed?

If this was the case, how come the widow is still living there?

hazyjo

fallen121 wrote: »

If this was the case, how come the widow is still living there?

Sorry, think I misunderstood, thought she'd gone in 2015. It's been a long day. I'm VERY hungover, and should maybe ignore the board today as I'm not sure I'm actually piecing sentences together lol

davidmcn

Unless it had been sold on the open market, the price isn't going to be much use to you anyway.

Sibz

Is the widow so old that you expect a sale very soon? This scenario seems reminiscent of an old Hitchcock story

fallen121

Sibz wrote: »

Is the widow so old that you expect a sale very soon? This scenario seems reminiscent of an old Hitchcock story

She's old and in ill health.

The scenario is perhaps more Dickensian than Hitchcock insofar as the house is in terrible nick. And she isn't already dead and being impersonated by her son who stabs random people in shower cubicles.

But it's the land I'm primarily interested in - there's room for at least two houses.

There's no wedding dress or rodent infested wedding cake I'm pleased to advise. And for the record, I don't think I'm the only person interested in this property. So this may be a bit of a pipe dream.

If the widow's gone and taken equity release, it's possible if she dies the property may be auctioned.

ReadingTim

What it last sold for it just as irrelevant as what it first sold for, or even what it cost to build, mainly because you can't go back in time and buy it yourself for that amount.

What it's worth now is whatever the buyer and seller agree it's worth, because without an agreement, there is no sale. And at present, it's not even for sale, so if you want to guess random numbers in the meantime, maybe try and predict next week's lottery numbers - it's just as much of a waste of time as what you're currently doing...

G_M

When did the widow's husband die? Was it 2015 (or 2014) by any chance?


She inherited and the ownership was transfered to her (at no cost).

babyblade41

And if you think you can get a couple of houses on it then many others will do so if and when it goes on the open market