Gifted deposits

InMyDreams

Tiddler wrote: »

At no stage has anyone been dishonest.

Yes they have. If the property was worth £200,000, say, then by definition that means that someone would pay £200,000 for it. So why would they accept £190,000 for it and effectively give £10,000 away if they could get £200,000? Maybe because they can't actually get £200,000 for it. In which case it is dishonest to value it as such, even if you tell a few people that that is what you are doing. As FraudBuster says, you're telling everyone else (ie anyone who subsequently looks at the land registry) something different.

Tiddler_2

Nobody has actually said what the property was worth, because as far as I know it has not been valued.

The property is actually being marketed at £240k.

Who decides what a property is worth?

If the valuer does not think it is worth £200k then he won't value it at £200k.

How many people do you know that look at the Land Registry prices before deciding what they are prepared to pay for a property? If you are relying on the information on the Land Reg, then you do need some advice because the information on property types is often wrong with semi-detached houses quoted as flats, detached quoted as terraced.

Also when comparing properties do you go round and look at the property that someone bought 3/6 months ago? If you don't how can you compare 2 houses on the same street which are priced within 5% of each other? Do you know by looking at the Land Reg if one has a loft conversion? a conservatory fitted?, had a new kitchen or bathroom fitted.

Yes the prices on the Land Reg should be used as a guide for prices, but nothing more.