Property Sale History

ravkumar6699

Hi, i have viewed property yesterday and i have been told by landlord that property was brought in 2006 @240,000. When i checked in Zoopla or Rightmove, i was not able to find sale history for that property. Finally, i have paid and downloaded title register from land registry. There, it was mentioned that price stated as 180,000. I am bit confused., why is it stating different price? which price is correct? Please advise

Slithery

ravkumar6699 said:

Hi, i have viewed property yesterday and i have been told by landlord that property was brought in 2006

Where was it brought from/to?

ravkumar6699 said:

When i checked in Zoopla or Rightmove, i was not able to find sale history for that property.

Not all sales appear on Zoopla or Rightmove.

ravkumar6699 said:

Finally, i have paid and downloaded title register from land registry. There, it was mentioned that price stated as 180,000. I am bit confused., why is it stating different price? which price is correct? Please advise

Not all sales are at market value. It's also completely irrelevant.

The only value that matters to you is what similar comparable properties are achieving. What the value of the property was 16 years ago doesn't matter at all.

ravkumar6699

Thank you very much, it is much appreciated. 

lincroft1710

Do not trust the accuracy of either Zoopla or RM for historic house prices.

canaldumidi

Unless the landlord was also the owner/seller, how would he know?

But as above- what on earth is the relevance of the price back in 2006?

propertyhunter

 lincroft1710 said:

Do not trust the accuracy of either Zoopla or RM for historic house prices.

Don't trust Zoopla for estimated prices either. Completely out of whack.

diystarter7

lincroft1710 said:

Do not trust the accuracy of either Zoopla or RM for historic house prices.

Their prices are bought from LR and for that I trust them and never found a problem.

OP, the info you have obtained from LR is the accurate one.

AFAIK, all prices appear on LR unless they are gifted/etc. However, below market value prices are in the public domain as well.

Use a solicitor/s that are well established. It does not matter if the LL claims they paid 200 or 900k. It is what you are now willing to pay and they are willing to accept. The only time the aforementioned may not apply is when you take a mortgage on the property and the valuation is less.

My dad bought a rental flat in London in 2006 I think and sold in 2009 when prices hit bottom, but we did not know it was the bottom, he paid about 400k and sold for 300k, well over 100k loss inc fees etc. Part of the problem was it had high service charges, so these fell faster but now the properties go for about 600k

london21

Looking into past prices excessively will have you buying nothing.

Prices have changed drastically since 2006.

I usually use this website and it's free https://landregistry.data.gov.uk/app/ppd 

Offer what you think its's worth and what you are comfortable with.