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Original poster

Why so cheap????

30 replies

Smellsliketeen · 13/08/2023 22:48

please help me figure out why this house sold so cheaply in 2022? The average costs around this area are somewhere between 100,000 to 250,000.
I don’t understand how this could come about? Can family sell to family members for a fraction of the market price? That’s the only thing I can think of!!
this is the sold history….https://www.rightmove.co.uk/house-prices/details/england-15778126?s=16e7223d0bebe61d07fdc1725b98b215311feb59a8d92a25b0c72a6a0bc7656a#/

House Price History

View house price history reproduced using Land Registry and Rightmove data.

https://www.rightmove.co.uk/house-prices/details/england-15778126?s=16e7223d0bebe61d07fdc1725b98b215311feb59a8d92a25b0c72a6a0bc7656a#/

OP posts:
OhYouSweetSweetFool · 13/08/2023 22:52

The upstairs window above the door is bricked up, not in a window tax kind of way, presumably it needs some sort of work doing.

Why so cheap????
SamAndEIIa · 13/08/2023 22:56

It’s only a one bedroom house.

It might have issues such as damp, or structural issues meaning it’s not mortgageable.

It might have a live in tenant.

It may have been sold to a family member.

Original poster
Smellsliketeen · 13/08/2023 23:01

OhYouSweetSweetFool · 13/08/2023 22:52

The upstairs window above the door is bricked up, not in a window tax kind of way, presumably it needs some sort of work doing.

Good point, I’d not spotted that. But still feel it is/ was ridiculously underpriced, it’s an area I like and these houses back onto a beautiful park.

OP posts:
Original poster
Smellsliketeen · 13/08/2023 23:02

SamAndEIIa · 13/08/2023 22:56

It’s only a one bedroom house.

It might have issues such as damp, or structural issues meaning it’s not mortgageable.

It might have a live in tenant.

It may have been sold to a family member.

One bed is a good point, although would still expect to achieve around 100,000 at the time they bought. Unless it was a repo and a complete steal!!!

OP posts:
Fizzadora · 13/08/2023 23:04

Subsidence?

Original poster
Smellsliketeen · 13/08/2023 23:05

OhYouSweetSweetFool · 13/08/2023 22:52

The upstairs window above the door is bricked up, not in a window tax kind of way, presumably it needs some sort of work doing.

The windows are intriguing me now, why would only the top ones he bricked up!?
From the outside it looks like a nice home

OP posts:
mondaytosunday · 13/08/2023 23:06

Or it's a mistake. I've sold and bought at least 20 houses and a couple times the sale/purchase hasn't been on Rightmove or the details are incorrect.

Typz · 13/08/2023 23:12

Yes of course family members can sell to each other for £1 if they want.

Property is often used for money laundering / tax evasion so there are many possibilities.

Disco123456 · 13/08/2023 23:15

The last house we sold has an incorrect price on the land registry data, it is £80k wrong!

Wambamcam · 13/08/2023 23:18

I think it's actually a tiny house and that's why it's so cheap, if you look the house up on Google Street view and go around the corner you see the house beside it takes up most of the space, I think the bricked up window is part of the next house so that one is just a sliver of a house.

80sMum · 13/08/2023 23:20

As there are no photos, it probably was a private sale and didn't go through estate agents. So yes, it could very likely have been sold to a family member or a friend.

OhYouSweetSweetFool · 13/08/2023 23:21

see the house beside it takes up most of the space

I was just thinking that re looking a the picture. The pointing/wall colours are different.

The house isnt very wide.

OhYouSweetSweetFool · 13/08/2023 23:22

As in that downstairs window to the left of the door belongs to the house round the corner.

Wambamcam · 13/08/2023 23:23

OhYouSweetSweetFool · 13/08/2023 23:22

As in that downstairs window to the left of the door belongs to the house round the corner.

Yep, the house OP is referring to is just the width of the bit with the door and the weird smallest bricked window above it 😮

Original poster
Smellsliketeen · 13/08/2023 23:30

mondaytosunday · 13/08/2023 23:06

Or it's a mistake. I've sold and bought at least 20 houses and a couple times the sale/purchase hasn't been on Rightmove or the details are incorrect.

Good point, one of my previous purchases shows up as 100,000 more on land registry and as a result zoopla and the like always estimate its predicted value ridiculously high!!!

OP posts:
Original poster
Smellsliketeen · 13/08/2023 23:34

OhYouSweetSweetFool · 13/08/2023 23:21

see the house beside it takes up most of the space

I was just thinking that re looking a the picture. The pointing/wall colours are different.

The house isnt very wide.

Good points that you guys have raised, I have no access to flood plans and which part belongs to which house, so maybe it really just absolutely worth so little 🤷‍♀️

OP posts:
LittleAlexHornn · 14/08/2023 07:06

The house I'm in now shows on Land Registry that it sold in 2012 for £28,500.

It didn't sell in 2012 though, and I bought it for £800,000. It must have been mixed up with a paddock/land sale.

Weird mistakes can happen, though with that property is could well only be worth that much.

RubyWedding · 14/08/2023 07:13

A house in my street recently sold for just over half of what it "should" be worth as it has someone living there who has a protected tenancy and the right to stay living there til they die. Could be 2 years, could be 20 years; it's an uncertain investment for someone.

TerfTalking · 14/08/2023 07:26

It’s tiny, next door to the left is on another street, so probably a one up and one down and needs work doing for sure, Low Moor is hardly a sought after area.

it’s estimated price on Zoopla is 61k to 91k, I’d put it nearer the lower price given the area/size/condition. Maybe it went to auction and that’s the best it raised.

next door is two beds and sold for a £100k in 2020 and is well maintained with a garden.

BarbaraofSeville · 14/08/2023 07:35

If you widen the sold price data to all of BD12 and filter for the last 2 years and terrace only, there's a few others sold for £50k or less so it's not totally out of line if its very small and was in poor condition.

https://www.rightmove.co.uk/house-prices/bd12.html?propertyType=TERRACED&soldIn=2&page=1

I live not too far away and there's some tiny and oddly shaped terraces around here, even with triangle shaped rooms, so maybe it's one of those?

House Prices in BD12

The average price for a property in BD12 is £142,626 over the last year. Use Rightmove online house price checker tool to find out exactly how much properties sold for in BD12 since 1995 (based on official Land Registry data).

https://www.rightmove.co.uk/house-prices/bd12.html?page=1&propertyType=TERRACED&soldIn=2

Original poster
Smellsliketeen · 14/08/2023 13:06

BarbaraofSeville · 14/08/2023 07:35

If you widen the sold price data to all of BD12 and filter for the last 2 years and terrace only, there's a few others sold for £50k or less so it's not totally out of line if its very small and was in poor condition.

https://www.rightmove.co.uk/house-prices/bd12.html?propertyType=TERRACED&soldIn=2&page=1

I live not too far away and there's some tiny and oddly shaped terraces around here, even with triangle shaped rooms, so maybe it's one of those?

Yea good point, it’s actually one of the things I like about the area…. Not that house specifically obvs, just how intertwined they all are!!

OP posts:
Original poster
Smellsliketeen · 14/08/2023 13:07

80sMum · 13/08/2023 23:20

As there are no photos, it probably was a private sale and didn't go through estate agents. So yes, it could very likely have been sold to a family member or a friend.

I thought that, as there is nothing at all online so likely a family member!

OP posts:
Original poster
Smellsliketeen · 14/08/2023 13:09

Wambamcam · 13/08/2023 23:23

Yep, the house OP is referring to is just the width of the bit with the door and the weird smallest bricked window above it 😮

Show quote history

if that’s the width then it makes more sense! It’s barely a house!!! 😳🤷‍♀️

OP posts:
BrieAndChilli · 14/08/2023 13:46

it could be a divorce and one person bought out the other - as its a transfer of deeds etc and still goes through land registry I think it does show up as a 'sale' but obviously the mooney changing hands would be the amount of equity one partner needed to pay to buy out the other.

Wambamcam · 14/08/2023 18:50

I think I may have misjudged, I think the downstairs & upstairs window on the right as you look at it may also belong to it, I'm not used to drainpipe going down the middle of the property, but it's still a small house, the ones nearby selling for £100k ish are much bigger and nicer. That one has pretty much no front garden, if you look on Google maps it has virtually no back garden, just a tiny yard and it's the smallest of that row because of the way they taper down. Plus as PP say you don't know the condition.

Number 132 that sold for 110k shortly before that one is in a different league, tonnes more house space, half decent condition if dated, gigantic gardens compared to the other one so that explains the price difference to me.

Can I be nosy and ask why you're interested?