[scooba0010]

Can anyone help ??? Right a house when its sold goes through the land registry and you can find sold prices on rightmove so why cant i find the one i am looking for can anyone help


Barcombe house . Barcombe Mills Lewes Sussex .I belive it was last sold in 2006/2007

The house was built and owned by the guy that run the old button mills at barcombe.

Really curious as to what it was sold for

[willhollin]

Doesn't come up on land registry for houses sold.

[scooba0010]

Originally Posted by willhollin

Doesn't come up on land registry for houses sold.

No ,I had a look a while ago ,Has /Is there a way round land registry putting it offshore or something ,

I think BB will know how this works ,House is proper big and took 18 months to refurbish in 06/07 .I am just curious as to what it cost

[m@rk]

The LR figure is not always correct.

I am in a position where I did a part exchange when I bought my current house. As a result the amount I actually paid for the house as shown on the LR database is the cost of my house less the value of the old house.

This did not bother me until I realised that lazy surveyors working for the banks use this figure to value your house when asked to do so by the bank when you want to change the mortgage or remortgage. This led to a position where on paper, the I owed the bank a lot more than the house was worth.

So if you check out the LR database now, the price paid for my house is simply no longer listed. Apparently they can't change the figure as technically it is correct however they can remove it.

[beemerbird]

Originally Posted by scooba0010

No ,I had a look a while ago ,Has /Is there a way round land registry putting it offshore or something ,

I think BB will know how this works ,House is proper big and took 18 months to refurbish in 06/07 .I am just curious as to what it cost

No, that doesn't happen.

If the property changed hands either for full market value, a share, gift, breakdown of a marriage, assent or re-mortgaged or a first charge taken on the property, then it requires registration. There is very little nowadays that does not 'trigger' registration. If any of the above took place around the time you stated then it should be registered. A search of the index map which can be done on-line should provide the information as long as you can supply a postal address, if not you would need to supply a plan and lodge a postal application at the relevant Land Registry office dealing with the registration of that particular area.

The price paid will only be shown on the title if it was sold for full market value (remember though that full market value depends greatly on the condition of the property and does not represent any future market value for obvious reasons), sometimes a 'value stated' will be noted on the title. This occurs when the solicitor supplies the information vide the fees paid on the transaction as the Transfer may well not be for full market value and only represent a share of the legal estate, so value stated could be between say £100,001 and £200,000.

Originally Posted by m@rk

The LR figure is not always correct.

I am in a position where I did a part exchange when I bought my current house. As a result the amount I actually paid for the house as shown on the LR database is the cost of my house less the value of the old house.

So if you check out the LR database now, the price paid for my house is simply no longer listed. Apparently they can't change the figure as technically it is correct however they can remove it.

Yes, the figure is technically correct as that was the price paid reflecting the value of the part exchange. It would be clear however that was not the full market value shall I say. I don't know when you bought your house but those price paid figures would not be noted on a title now put it that way. There are options when completing this aspect of registration and very strict guidelines of how to state a 'price paid' for a piece of land or property for various legal reasons. A price paid entry should only be noted on the title if you are certain the value stated is a full market value or falls within a banding of prices, the wording of the entry will reflect the situation accordingly.

Amending a price paid entry is very rare as much depends on how the Transfer was completed at the time and the validity of the information stated. In situations like you've described a good solicitor should provide a 'statement of value' when a part exchange is involved to ensure a correct price paid entry will be made and for us to check the correct fees and stamp duty land tax have been paid. That said, it is also upto the person involved in the registration of a property/piece of land to ensure the information noted on the title is correct, shall we say. There are in place, and have been for some time now, various system checks and internal auditing of this particular aspect of land registration.

I have noticed that part exchanges now are generally dealt with differently by the solicitors in as far as how the Transfers are completed, this has been brought on by a change in the LR Rules and a revision of our application forms and the Transfer documents themselves.

[m@rk]

Originally Posted by beemerbird

In situations like you've described a good solicitor .

That was half the problem (I think).

The LR people were really helpful when I found out but it was 3 years after the even and to be fair, the solicitor who did the sale for me was useless.

It was explained to me by the LR person that changing the figure was never going to happen but that there are 2 numbers on the LR record.

1. The price paid. Apparently it is this number that all the internet sites etc use and all LR can do in my case is just remove it from the public DB
2. The fee paid. This again is based on value but is on the main LR deeds (or something like that). This puts the house in a band but to be fair those bands seemed quite wide (I think our band was £250k to £500k)

This is how it was explained to me.

My concern of course is that when I come off my fixed rate mortgage next year, the valuation of my house will be based on the LR public number rather than what I actually paid for the house (this happened to my neighbor last year) and in the current market this causes big problems

[beemerbird]

Mark, the price paid is literally that and NOT a valuation or reflection on an actual value of a property, as values fluctuate depending on market forces etc, etc. Any lender/surveyor worth their salt WILL know this.

Yesterday I registered a property which within three years had increased in value by more than £50k. Nothing in the application indicated that the purchasers had queried such an increase in value from the original price paid three years ago. The property had been renovated and improved considerably. The current 'price paid' now reflects a more accurate value of the property, but as I said, it is not to be taken as a valuation figure.

[m@rk]

Originally Posted by beemerbird

but as I said, it is not to be taken as a valuation figure.

Point taken. I just wish there were not people out there who were taking it as a valuation (or at least using it as the basis for a valuation).

Indeed if you go to websites like Net Mouse Prices, they actually advertise the ability to give you a value of your house TODAY but all they do is take the LR number then apply the known house price fluctuations for the period between when you bought it and now.

You are right. People should not be using this information for valuations but unfortunately, they are and for some pretty important decisions.

Thanks

[beemerbird]

Unfortunately there are too many websites claiming to supply valuation figures of properties. I need to read them carefully sometime and see whether they contain any actual disclaimers as to the accuracy of their figures. They must have spies everywhere to know the exact state of repair and condition of each individual property lol......that's how ridiculous it is when you think about it.

Our official figures, based on ACTUAL transfers clearly shows that as of end of February 2010, there was a 7 percent increase in house prices overall, that can then be broken down to a specific area of England and Wales.

And to prove there is still money about..........how do fancy paying £745k and no mortgage!!.........did that one on Monday.

[JLR1969]

Originally Posted by beemerbird

Unfortunately there are too many websites claiming to supply valuation figures of properties. I need to read them carefully sometime and see whether they contain any actual disclaimers as to the accuracy of their figures. They must have spies everywhere to know the exact state of repair and condition of each individual property lol......that's how ridiculous it is when you think about it.

Our official figures, based on ACTUAL transfers clearly shows that as of end of February 2010, there was a 7 percent increase in house prices overall, that can then be broken down to a specific area of England and Wales.

And to prove there is still money about..........how do fancy paying £745k and no mortgage!!.........did that one on Monday.

You could buy all of Preston Road in Hull for that amount

[scooba0010]

BN8 5BT.

I cant work out when and how much if anyone can tell thanks

[beemerbird]

Originally Posted by JLR1969

You could buy all of Preston Road in Hull for that amount

Lol........I'd spend it on explosives.

Originally Posted by scooba0010

BN8 5BT.

I cant work out when and how much if anyone can tell thanks

Leave it with me ok.

[beemerbird]

Fu*k me that is an expensive property.

You have PM scooba