Value stated on land registry.

jp1233

Hi all,

I need the advice of more seasoned sellers!

I’m looking at a house, we like it and have had first viewing. Initially ignored it as it was advertised much higher than we would have valued. Now it’s a vaguely unusual house, with having 1 acre of land, a previously rented wooden hut 2 bedrooms plus kitchen and lounge, for 4 people and also a barn on the land, along with the Victorian 3 bed house of 1100square feet. So hard to compare to a similar property.


originally listed 670k in June 2024, reduced to 650k in August.
last sold in mid 1990’s for 130k, nationwide index says that is now 525k
zoopla (which I don’t really trust) says 647k
The biggest confusing thing for me, I’ve downloaded the title deeds and ‘value stated’ was £366,000 in August 2020. Who stated this? What does it mean? That value goes to £447k on nationwide index.

a kind of similar property, but much nicer and bigger is listed less than half a mile away. 3 acres, grade 2 listed, really nice inside and 3,400square feet, for 750k, in may 2024 and still not sold also.

sellers are ‘motivated as they already have somewhere to move to’

I originally felt it was £525-535k. Initially, before viewing and doing all the extra research. 

Flugelhorn

I wonder if the 2020 value was a transfer within the family? someone buying someone else out?

pumas

I bought out sibling last year, LR has been updated, still shows 'old' stated value.

FreeBear

Flugelhorn said:

I wonder if the 2020 value was a transfer within the family? someone buying someone else out?

Probate valuation and someone inherited ?

But historical values don't really have any relevance to the current price. Current value is based on what someone is willing to pay.