Auction Property Sold Price Less than Auction Price?

RHemmings

This property was discussed in another thread when it was auctioned off. According to the auction house, and my memory, it sold for £180k. But, on Zoopla it has appeared as having sold for £155k. However, on Zoopla, it's listed as selling for £155k. But, on Zoopla it is listed for a guide price after the sold price. All of the dates for these things are March, 2024. 

Auction listing: https://www.bondwolfe.com/auctions/properties/237801-property-auction-leicester/
Zoopla house prices: https://www.zoopla.co.uk/property/uprn/2465044134/

What is the most likely reason for this situation? I'm wildly guessing that it might have been bought and flipped within the same month. If so, quick, and a reasonable profit appears to have been made. Because the other options I can see would be that somehow the price decreased after auction, which I thought wasn't meant to happen for a traditional auction. 

propertyrental

Given that both Zoopla and bondwolf listed at 59K there would seem to be only one sale.

Zoopla is notorious for inaccurate listings, and I must admit I'm surprised they could get the sold price from HMLR so fast. It takes time to the LR to update/register sales, and zoopla (I believe) get month;y updates (not real-time) from LR.

If you are genuinely interested, why not purchase the LR Title for £3 which will show the last sale rice and date?

RHemmings

propertyrental said:

Given that both Zoopla and bondwolf listed at 59K there would seem to be only one sale.

Zoopla is notorious for inaccurate listings, and I must admit I'm surprised they could get the sold price from HMLR so fast. It takes time to the LR to update/register sales, and zoopla (I believe) get month;y updates (not real-time) from LR.

If you are genuinely interested, why not purchase the LR Title for £3 which will show the last sale rice and date?

I have the title register ... somewhere. I'll look for it tomorrow. It's unlikely to be updated on LR yet. 

There are a lot of sale prices on Zoopla from March that haven't hit the LR yet. I don't know where the price comes from. I checked my own title register today, and it still hasn't been updated. But, it's listed on Zoopla as a sold price, and it's correct. 

It does seem rather strange. There are a number of houses that I'm tracking long term out of interest, and I'll add it to this one. 

I was thinking that it had been flipped remarkably quickly. But, as you say, perhaps only one sale. Odd. 

propertyrental

I have no idea how zoopla can get its sold prices other than via the LR.

eddddy

The transaction has been recorded by LR. Here it is on the LR website:

RHemmings

eddddy said:

The transaction has been recorded by LR. Here it is on the LR website:

Oh wow. I didn't know (may well have been told and forgotten) about the searchable LR open data. It's very useful that it has the actual date. So, this transaction was on the 3rd of March, and I think it was on the 27th of March that it sold at auction for about £180,000. So, that now looks like a very quick flip, for a few tens of thousands profits (minus unknown expenses). Thanks for pointing me in the direction of this search engine. I'm off to be very nosey about a whole lot of properties.