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If anyone is bored or as sad as me,there is a great little game to be played using net house prices.There is nothing more irritating when looking at recent sold prices,to come across the idiots who pay way over the odds for the same property which sold for a lot less, in some cases, only months previous.So i got to thinking that if it irritated me,then how nice it would be to share this knowledge with the new owners.So you print it off and post it.Obviously,you can only afford to do the most glaring examples,but there are a few out there.For example,£146k in july 05,resold for £174k in jan 06.(modern wimpey semi in Plymouth).Iknow,I need to get out more.

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If anyone is bored or as sad as me,there is a great little game to be played using net house prices.There is nothing more irritating when looking at recent sold prices,to come across the idiots who pay way over the odds for the same property which sold for a lot less, in some cases, only months previous.So i got to thinking that if it irritated me,then how nice it would be to share this knowledge with the new owners.So you print it off and post it.Obviously,you can only afford to do the most glaring examples,but there are a few out there.For example,£146k in july 05,resold for £174k in jan 06.(modern wimpey semi in Plymouth).Iknow,I need to get out more.

Hello, and if the person who bought in July was a developer who spent £40K on it, they got a 'relative' bargain - it's a daft strategy unless you know the area - there is one house that sold in the next road to me in Spe 2004 for £565K, if you looked at nethouseprices it resold a year later for £1.8M - but if you know the area, you would know it's a big brand new 4,500 sq foot house with the same name ........

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Good fun, but remember the prices from the land registry can be misleading.

A family member brought a house last December for £340k but got £30k cashback (in a way I don't yet understand). So the true value was £310 but the land registry (and net prices) thinks it was £340k. This makes it hard to compare prices over time as everybody negotiates a different deal.

By the way, the same house was sold for £110k in 2001.

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A family member brought a house last December for £340k but got £30k cashback (in a way I don't yet understand). So the true value was £310 but the land registry (and net prices) thinks it was £340k. This makes it hard to compare prices over time as everybody negotiates a different deal.

If the transaction was financed then I think that I understand it: mortgage fraud.

The bank was led to believe it was lending a £340k purchase price when in fact the true price was £310k + an unsecured loan of £30k.

It could get ugly if the bank has to repossess and discovers this.

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Sounds like either a Gifted Deposit scheme - or Developer Discount/Cash back.

If the latter, it is often used to con the gullible that the property has sold for a higher price - which, in turn, can mean that the LR figure is overstated. Even worse, if the purchaser has paid (erroneously) SDLT on the higher figure.

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Guest Winners and Losers

My oh my oh my.

You lot are a lot, lot sadder than I had ever dreamed.

No wonder you miss opportunities.

:blink::blink::blink::blink::blink::blink:

Have I missed opportunities? Um, no, I have not. Phew. You had me worried for a minute there.

:blink:

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If the transaction was financed then I think that I understand it: mortgage fraud.

The bank was led to believe it was lending a £340k purchase price when in fact the true price was £310k + an unsecured loan of £30k.

Although I agree it might be mortgage fraud, the 30k loan isn't unsecured; surely it's secured on the house as it's part of a mortgage?

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If anyone is bored or as sad as me,there is a great little game to be played using net house prices.There is nothing more irritating when looking at recent sold prices,to come across the idiots who pay way over the odds for the same property which sold for a lot less, in some cases, only months previous.So i got to thinking that if it irritated me,then how nice it would be to share this knowledge with the new owners.So you print it off and post it.Obviously,you can only afford to do the most glaring examples,but there are a few out there.For example,£146k in july 05,resold for £174k in jan 06.(modern wimpey semi in Plymouth).Iknow,I need to get out more.

Sound very boring & very sad to me! The expression "Sour grapes" did cross my mind.

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Hello, and if the person who bought in July was a developer who spent £40K on it, they got a 'relative' bargain - it's a daft strategy unless you know the area - there is one house that sold in the next road to me in Spe 2004 for £565K, if you looked at nethouseprices it resold a year later for £1.8M - but if you know the area, you would know it's a big brand new 4,500 sq foot house with the same name ........

Also you should remember that Land Registry figures include probate transfers (ie husband dies and wife inherits) which are put in at half the original purchase price (however long ago that may have been).

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Sound very boring & very sad to me! The expression "Sour grapes" did cross my mind.

As boring and sad as you? Probably not... :lol:

Actually Kirsty I think you need to join forces with GalBear and her EA baiting club. This could be the beginning of a Girl Power phase that the Spice Girls didn't even dream of ;)

You go girl!

Never ever mess with a pi$$ed off woman. Ever!

:lol:

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If the transaction was financed then I think that I understand it: mortgage fraud.

The bank was led to believe it was lending a £340k purchase price when in fact the true price was £310k + an unsecured loan of £30k.

It could get ugly if the bank has to repossess and discovers this.

Nope, this has been discussed many times before. Land reg will register at 340K and neglect the 30k cashback. As for the banks, well they've been pretty stupid haven't they, but they are wising up now.

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Why?

You people really do make my day :D

The original post is sad. Sad beyond belief.

Very bitter. Very, very bitter :unsure:

Funny but the person who seems saddest to me is you. You must be a very unhappy person inside.

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Yes, of course I am.

You got me.

:lol:

I've just read through some of your posts. You actually do come across as an unhappy person. All that gloating must be making you very twisted inside. Anyway if I'm wrong and you're happy and well adjusted then please accept my apologies, though I would still question why you feel such an overwhelming need to gloat? Surely you cannot be that insecure that the only way you get to feel good is by winding people up because you have something they don' t have?

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I've just read through some of your posts. You actually do come across as an unhappy person. All that gloating must be making you very twisted inside. Anyway if I'm wrong and you're happy and well adjusted then please accept my apologies, though I would still question why you feel such an overwhelming need to gloat? Surely you cannot be that insecure that the only way you get to feel good is by winding people up because you have something they don' t have?

agreed

Gloating is very bad - you tend to lose your friends very quickly that way

Edited by notanewmember

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I find it absolutely amazing that people do not realise that you can now find out how much houses sold for. It was all over the press when alot of these websites launched. And even if you don't read the news then a simple google for 'house prices' brings it all up.

There are various comments on this thread about how this land registry data could be highly misleading because of probate related transfers and other funnies. Yes these arrangements may affect a minority of sales. But if you know the properties concerned then you can usually figure out which are the odd transactions e.g. if you knew from viewing the property that it was being sold as part of a deceased estate, or due to divorce. We viewed a property which was overpriced in my opinion but when you looked at houseprices.co.uk it appeared to have been bought for a similar price six months ago - a bit more digging on land registry (plus £2 fee) revealed that the person who had bought was already living there, so probably not a 'real' price. (Said house has still not sold.)

What strikes me when I look at house price websites is how prices paid since 2004 often look out of kilter compared to prices paid a year or two before. I would hate to have bought at the top of the market and then look back and realise I had paid stupidly over the odds.

There are also comments on this and other threads which imply that anyone who suggests that house prices are above their long term trend and due for a correction must, by definition, be bitter. So people who sold their shares just before the dotcom crash are bitter, hmmm I don't think so.

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There are also comments on this and other threads which imply that anyone who suggests that house prices are above their long term trend and due for a correction must, by definition, be bitter. So people who sold their shares just before the dotcom crash are bitter, hmmm I don't think so.

Excellent point!

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Land registry prices are definately misleading for where I live as I know many people who make deals on the side and pay cash in hand to avoid stamp duties.

I know of a person who according to land registry bought a house for £106k even though the true value at present is between 120k-130k. He in reality paid 125k for the property and the difference of 19k was given in cash just before exchanging contracts/completing.

So land registry is definately wrong!

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I personally think the original post is execeptionally sad. This person obviously think it's good to actually try to upset people by letting them know they've paid over the odds for something.

How childish, petty, vindictive and plain nasty! These are just people who have probably struggled to buy a place.

Kirsty you don't need to get out more, you need to re-evaluate your life entirely!

Instead of wrapping yourself up into a bitter,twiisted ball of hatred over house prices that leads you into lashing out against innocent people in this fashion, why not put all this negative energy into something such as charity work? You will find your life enriched, and those of others around you.

Oh and in case the OP was a wind up - nice one, u got me..

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  • 337 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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