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Could last sale price shown here in fact be remortgage price?

Is it possible that the price shown on this website as the last sale price is in fact the amount it was remortgaged for when the owner transferred ownership to a relative? I am considering buying a house and the latest sale price shown here is low, which would help me get it for a low price now - but owner (and estate agents back him up) tells me it was never sold for that amount, just remortgaged. Can anyone clarify?

Asked on Dec 3 2012, House Prices in Birmingham | Report content

Answers (1)

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  • I believe that if there is a transfer in title then appears on land registry, the assumption is that this transfer is a sale, however in circumstances such as divorce, when one party is removed and the whole title put in the other persons name. If the property is mortgage free and the proceeds split equally sometimes it looks like the property sold for 50% of its true vale. Normally remortgaging doesn't trigger it unless one party is removed from the mortgage and titles deeds.

    Answered on Dec 5 2012, Report content

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