"No price recorded" on Title Register - why?

Oasis1

I'm going to a viewing next week and was trying to find out how much the current owner paid for it and when. I've purchased the title register from HM Land Registry but it just says:

"Last sold for: No price recorded"

The entry date is in 2017, where it appears there was an extension of the lease and it lists the current owner. I then decided to pay for the previous title register too, which the current title references. This detailed the a previous owner, who paid £95k for the property in 2000.

I just don't understand why there's no record of the purchase amount by the current owner.

Any suggestions much appreciated!

user1977

Oasis1 said:

I then decided to pay for the previous title register too, which the current title references.

What exactly does this reference say? Aren't these different titles (maybe a split of titles)?

Oasis1

user1977 said:

Oasis1 said:

I then decided to pay for the previous title register too, which the current title references.

What exactly does this reference say? Aren't these different titles (maybe a split of titles)?

Under one of the 'entry numbers' it says:

Short particulars of the lease(s) (or under-lease(s))
under which the land is held:
Date : XX XX 2017
Term : 125 years from XX X 2017
Parties : XXX Properties Limited
(2) XXX (assumed name of current owner)
NOTE 1: The original lease referred to in the above
lease was formerly registered under ESXXXXXX.
NOTE 2: A copy of the original lease is filed under
ESXXXXXX.

theoretica

Gifted, inherited, passed from an ex spouse on divorce, swapped for a racehorse...

Oasis1

theoretica said:

Gifted, inherited, passed from an ex spouse on divorce, swapped for a racehorse...

Hmmm interesting.. well, the previous owner and current don't share surnames. And the current owner appears to be aged 32 based on his graduation on LinkedIn - so a bit young for an inheritance back in 2017 too? But certainly possible...

Is any of this info useful to me, as a potential buyer? I'm very new to all this (if you couldn't already tell...)

user1977

Even if it had been a normal arm's-length sale, the price from five years ago isn't particularly meaningful by now.

Oasis1

user1977 said:

Even if it had been a normal arm's-length sale, the price from five years ago isn't particularly meaningful by now.

I was hoping to compare the average annual increase in comparison to other similar properties, just to check it was roughly in line so they're not over egging the asking price.

Slithery

Oasis1 said:

I'm going to a viewing next week and was trying to find out how much the current owner paid for it and when. I've purchased the title register from HM Land Registry but it just says:

"Last sold for: No price recorded"

The entry date is in 2017, where it appears there was an extension of the lease and it lists the current owner. I then decided to pay for the previous title register too, which the current title references. This detailed the a previous owner, who paid £95k for the property in 2000.

I just don't understand why there's no record of the purchase amount by the current owner.

Any suggestions much appreciated!

None of that matters at all and is completely irrelevant. The only thing you need to pay attention to is the current asking price vs. the current market.

user1977

Oasis1 said:

user1977 said:

Even if it had been a normal arm's-length sale, the price from five years ago isn't particularly meaningful by now.

I was hoping to compare the average annual increase in comparison to other similar properties, just to check it was roughly in line so they're not over egging the asking price.

No, you should be comparing the asking price to recent sales of comparable properties. What they (might have) paid 5 years doesn't have much to do with it.

canaldumidi

You're wasting your time.

Focus on today's property values not those of 5 years ago. It's worth today whatever similar local properties are selling for irrespective of what was paid for it 5 years ago.

However to answer your question, read:

https://www.gov.uk/government/publications/price-paid-or-value-information-registration-procedures/practice-guide-7-entry-of-price-paid-or-value-stated-data-in-the-register

diystarter7

It was a gift most likely, hence no money exchanged therefore no price.