Incorrect house price data on Land Registry

Charlieg88

We bought our house in March and upon looking on a house price website I notice that the sold price is £5,000 over what we paid for it.

Land Registry have said that it couldn't be changed as that was the price on the Deed of Transfer. I have contacted our solicitor who replied saying "It does not really matter what these house prices sites list, but I will get the file out and ask the Land Registry to amend". She then forwarded a further email saying "it probably won't be changed but I'll try".

I think it is important for it to be listed correctly, I used these sites to look up house prices when we were buying!

Do you think I am right to insist on this being changed?

AdrianC

It wouldn't be high on my list of priorities, not least because what somebody else may or may not have paid for a house some time in the past is not exactly relevant to anything.

Can you think of any reason why the "price paid" would be down as £5k higher than you think it was? Was there some kind of deal whereby £5k of the "purchase price" was for something else, fixtures and fittings, or the like?

letitbe90

I can see why it might be made difficult to change it - even though it seems like a relatively easy change, it might be to stop parties from retrospectively changing things for dishonest or fraudulent or purposes. I guess both parties solicitors would need to be involved to confirm this plus transaction logs and explanation of why the forms were not correct in the first place.

Charlieg88

AdrianC wrote: »

It wouldn't be high on my list of priorities, not least because what somebody else may or may not have paid for a house some time in the past is not exactly relevant to anything.

Can you think of any reason why the "price paid" would be down as £5k higher than you think it was? Was there some kind of deal whereby £5k of the "purchase price" was for something else, fixtures and fittings, or the like?

No there was no deal it was a straight sale, the solicitor was pretty poor throughout so I think is just down to human error!

Charlieg88

letitbe90 wrote: »

I can see why it might be made difficult to change it - even though it seems like a relatively easy change, it might be to stop parties from retrospectively changing things for dishonest or fraudulent or purposes. I guess both parties solicitors would need to be involved to confirm this plus transaction logs and explanation of why the forms were not correct in the first place.

I imagine neither solicitor will be willing to do this!!

Davesnave

Charlieg88 wrote: »

I think it is important for it to be listed correctly, I used these sites to look up house prices when we were buying!

Do you think I am right to insist on this being changed?

What % of the purchase price was £5k?

I don't think it will cause anyone sleepless nights, especially if yours is a reasonably common type of house. Errors are made, even at the Land Registry, and life goes on. Someone forgot to record our purchase price altogether, so if our neighbours want to know, they'll have to pay £3!

Besides, it's not something that can be insisted on, though you can ask nicely, as you've done.

Charlieg88

Davesnave wrote: »

What % of the purchase price was £5k?

I don't think it will cause anyone sleepless nights, especially if yours is a reasonably common type of house. Errors are made, even at the Land Registry, and life goes on. Someone forgot to record our purchase price altogether, so if our neighbours want to know, they'll have to pay £3!

Besides, it's not something that can be insisted on, though you can ask nicely, as you've done.

Only about 2.5%! Don't suppose it matters in the grand scheme of things! Don't want people to think we paid too much for it

need_an_answer

Charlieg88 wrote: »

Only about 2.5%! Don't suppose it matters in the grand scheme of things! Don't want people to think we paid too much for it

Well look at it this way...you are now responsible for inflating the prices of all the houses in the area going forward!

Potential sellers will use your figure as a yardstick for pricing and maybe even potential buyers will be "encouraged " to offer more for similar properties...how often do we read " the last house on the street sold for£......so I need to base my offer on that"

You've done your neighbours a favour!

eddddy

Charlieg88 wrote: »

Only about 2.5%! Don't suppose it matters in the grand scheme of things! Don't want people to think we paid too much for it

If anything, I'd be pleased.

It makes the house look a bit more valuable to future buyers.

And the neighbours will be pleased that houses in the street seem more expensive.

And if any of my friends check (which would be a bit stalky / creepy), they'll also think my house is slightly more valuable than it really is.

ACG

To be fair, it is probably better for you that it is higher. When you come to sell, it will appear that house prices were a little more than they were. It is unlikely to make a massive difference one way or the other though (assuming no stamp duty was payable?).

Surely you have better things to be doing with your time?