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£11,000 Wiped Of The Price Of Braggarts House Sp9

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Guest growl

Chap around the corner from me had his house up for sale in the summer for £168,000 and when he sold he did not look happy. That aroused my suspicions. But he was still bragging about the sale and how he had got his asking price. He was that type of person, always talking in a loud voice outside his house to anyone who would listen to him. I found him amusing most of the time. He was always telling us how we should buy property again. We would walk away and smile to ourselves.

Just got the Land Registry report and he really sold for £157,000. Ouch!

By my reckoning thats a 6.54% drop. The thing is the couple who bought the three bedroom, with garage and front garden end terrace, have had the builders in since the summer. They are doing loads of work. I reckon about 20 grands worth so far maybe more. They've turned the garage into a kitchen. Added a porch to the front of the house. Rebuilt the wall and fence. Brought in a new oil boiler(we don't get gas here)in the side garden. They look like they are ripping the inside of the house out. Landscaping the garden. In fact when I think about it...thats a hell of a lot of work. But I'm not sure how much that would cost since its over ten years since I had work done to a property.

This same house was on the market for £83,000 five year ago. So in five years with all the lovely work done and the property losing £11,000 a year I believe if I'm still interested an offer of £102,000 will be about right.

:D

But don't you just love those nice little reports from the Land Registry. I'm keeping my eye on all of the property around here and it will be interesting to see how many others have had to drop their price by so much. ;)

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Makes one wonder how they managed to get planning permission so quickly . I was under the impression that it took months to get it as there is a backlog of applications . If you go to http://www.voa.gov.uk and check the banding it will show whether the house has to be reassessed next time it's sold . Always interesting stuff and something to check when making an offer .

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Chap around the corner from me had his house up for sale in the summer for £168,000 and when he sold he did not look happy. That aroused my suspicions. But he was still bragging about the sale and how he had got his asking price. He was that type of person, always talking in a loud voice outside his house to anyone who would listen to him. I found him amusing most of the time. He was always telling us how we should buy property again. We would walk away and smile to ourselves.

Just got the Land Registry report and he really sold for £157,000. Ouch!

By my reckoning thats a 6.54% drop. The thing is the couple who bought the three bedroom, with garage and front garden end terrace, have had the builders in since the summer. They are doing loads of work. I reckon about 20 grands worth so far maybe more. They've turned the garage into a kitchen. Added a porch to the front of the house. Rebuilt the wall and fence. Brought in a new oil boiler(we don't get gas here)in the side garden. They look like they are ripping the inside of the house out. Landscaping the garden. In fact when I think about it...thats a hell of a lot of work. But I'm not sure how much that would cost since its over ten years since I had work done to a property.

This same house was on the market for £83,000 five year ago. So in five years with all the lovely work done and the property losing £11,000 a year I believe if I'm still interested an offer of £102,000 will be about right.

:D

But don't you just love those nice little reports from the Land Registry. I'm keeping my eye on all of the property around here and it will be interesting to see how many others have had to drop their price by so much. ;)

Similar story, a friends next door neightbour told my friend he got 300K for his house back in 2003, my mate was quite chuffed as he thought his house would be now worth £350 min, had a look on land reg, he actually got 260K for it even though it was on for 299, another house on the street is now on the market for £250K, bummer.

I'm sure we'll be hearing alot more of these stories in the comming months.

Area was Wanstead by the way.

:unsure::unsure::unsure::unsure:

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Guest growl
If you go to http://www.voa.gov.uk and check the banding it will show whether the house has to be reassessed next time it's sold .

I nearly misread you and thought you said 'check the banding it will show whether the house had been repossessed when it was sold'... :lol::lol::lol:

Only because the chap in the story was so depressed when he moved and he accounted for that by saying that they were off to a holday resort for two weeks because they could'nt move into their new house. Also their youngest was in secondary school and they had been saying how well he had done since they had moved here two years previous. There was just so much at the time that didn't add up.

But maybe I'm an overly suspicious nosey old neighbour. :P

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I nearly misread you and thought you said 'check the banding it will show whether the house had been repossessed when it was sold'... :lol::lol::lol:

Only because the chap in the story was so depressed when he moved and he accounted for that by saying that they were off to a holday resort for two weeks because they could'nt move into their new house. Also their youngest was in secondary school and they had been saying how well he had done since they had moved here two years previous. There was just so much at the time that didn't add up.

But maybe I'm an overly suspicious nosey old neighbour. :P

It's a hobby :)

Sorry , the voa website allows you to see your council tax banding . If you have planning permission and do the work the council will re-assess the pads tax the next time the property is sold . This is shown as a mark next to the property banding on the site . I've been interested in a few pads but when I found out about the council tax going up on the property , well , say no more :huh:

I guess they must have had planning permission which would add a premium to the sellers price . So he actually would have got even less for the pad had he not had planning permission .

Edited by Wankan

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Guest growl

It's a hobby :)

Sorry , the voa website allows you to see your council tax banding . If you have planning permission and do the work the council will re-assess your tax the next time the property is sold . This is shown as a mark next to the property banding on the site . I've been interested in a few pads but when I found out about the council tax going up on the property , well , say no more :huh:

I guess they must have had planning permission which would add a premium to the sellers price . So he actually would have got less for the pad .

Well, well, well...I never knew that. never having applied for planning permission. Thanks for that. :)

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  • 301 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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