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juvenal

£400K Down To £156K In Two Years

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http://www.houseprices.co.uk/e.php?q=Hamilton+Road+poole

No 27. Anyone got any ideas why this might be?

Next door fetched the same incredible price in the same year.

Here they are on streeview:

http://maps.google.co.uk/maps?q=BH15+4ER&ie=UTF8&hq=&hnear=Poole,+Dorset+BH15+4ER,+United+Kingdom&gl=uk&ei=vHL0TMKvMMGIhQeY79TSBQ&oi=geocode_result&ved=0CBcQ8gEwAA&ll=50.718209,-2.012263&spn=0.00128,0.00247&z=19&layer=c&cbll=50.718209,-2.012263&panoid=l4C8Xij-6Ka0uZgEN72LjA&cbp=12,217.93,,0,12.13

Neither seems to be worth 400K, Top of the bubble hysteria from the looks of things or maybe some sort of dodgy dealings...

Edited by MonkeyNuts

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The Land Registry figures (on which your linked website is based) sometimes get it wrong and fail to pick up a deposit, therefore underpricing a transaction. If the deposit is a big one the impact is material. This happened to me once and I contacted the LR to have it adjusted to the correct figure so that any future buyer wouldn't be misled.

In this particular case though I suspect a divorce settlement as has been previously suggested.

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Might be a divorce situation where the house gets sold (legally speaking) to one party as part of the settlement but the price paid doesn't actually relate to its open market value?

Yes, that's what happened when I separated, house was worth £180k, mortgage was 40k so I transferred it to my ex and took half of the equity and it shows as having been sold for £110k.

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The Land Registry figures (on which your linked website is based) sometimes get it wrong and fail to pick up a deposit, therefore underpricing a transaction. If the deposit is a big one the impact is material. This happened to me once and I contacted the LR to have it adjusted to the correct figure so that any future buyer wouldn't be misled.

In this particular case though I suspect a divorce settlement as has been previously suggested.

The LR shouldn't be getting that sort of thing wrong. They record the sale price from the TR1 form on which you have to put the full purchase price. The LR wouldn't even know the mechanics of the transaction, as far as I'm aware.

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The LR shouldn't be getting that sort of thing wrong. They record the sale price from the TR1 form on which you have to put the full purchase price. The LR wouldn't even know the mechanics of the transaction, as far as I'm aware.

Shouldn't, but did!

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Looking at street view the street opposite is cordoned off with police cones.. perhaps they just negotiated REALLY well :ph34r:

Edited by libspero

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As the are both CT band C the 400K sales look to be the ones that are wrong here

tim

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Looking at StreetView it almost looks like there's been some new houses put up behind the house...

I wonder if at £400k it had a 300' garden which has now been turned into some new houses?

The house next door also has an EA sign suggesting "New Houses For Sale" which might make sense?

Just an idea?

~S~

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transfer under value.

http://www.fridaysmo...ankruptcy/14247

'Selling your property at a discount or a 'transfer at an undervalue' as it is known in conveyancing terms is something that should be understood fully by a buyer proposing to purchase a property under these circumstances. It is especially important in the current climate since a record number of people have been filing for bankruptcy due to the effects of the recession.

Selling a property at a discount may arise where someone wishes to sell to a family member or a business associate, for example. A property worth £250,000 may be being sold for £200,000 which means the discount or 'gift' is £50,000.

The risk of buying a property at a discount is that if the seller is declared bankrupt after 2 years the sale could be 'set aside' by the trustee in bankruptcy. If the seller is declared bankrupt within 5 years of the transaction at an undervalue the sale may be 'set aside' by the trustee in bankruptcy:'

sometimes used to transfer assets in order to play around with tax liabilities.

In this case it doesn't seem to me that there has been a transfer at undervalue but rather that the £400k sale price was a transfer at overvalue....

Or some other reason - as above - perhaps the building/plot has been split in some way. Apparently (according to MousePrice) there have been two new builds in Hamilton Road 2 years ago which might indicate the reason for the price difference here.

I've never been to Poole so can't offer any accuracy, but at a guess this would fit.

~S~

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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