Purchasing a Pensioners Property Cheaply

A

AlanVarley

Registered User
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20
Recently learned of a couple that bought a pensioners house in a premier location.
By distributing leaflets looking for anyone interested in selling their home.
With no competing bidders driving up the price, and no agent to give an accurate valuation this couple bagged a bargain.
Not sure if both parties had their own solicitor's as this predates the 2013 law change ,
Doesn't appear to be any close family on neighbors to advise them.
Is this practise legal ?
I did contact age action, who didn't seem that interested.
 
It's a very good idea if you want to buy a house in a particular area to distribute leaflets.

And most people try to pay as little as possible, and as such bid low and hope for the best.

Not sure that there is anything wrong here unless they used some coercion.

Brendan
 
Why would revenue have an interest, they dont check house prices on sales to make sure they are fair, 2 houses on same road could sell for much different prices due to number of reasons.

Stamp duty is paid on purchase price, so if calculated correctly then nothing for revenue to be concerned about.
 

So if house is under valued the revenue would receive less stamp duty .so perhaps it might be of concern if they are not receiving the correct amount
 
house was sold per the post, so whether the seller sold at the best price that could have achieved is not really or interest to Revenue, more one for the seller as to why he sold at the price he got, but maybe other things at play, condition of the house, issues with title, maybe just wanted to sell quickly etc.

A house is only worth what someone will pay for it, so if someone got a bargain then doesn't mean anything untoward in the transaction.
 
what sort of bargain did they get it for, what wasthemarket price v's what they paid ?
 
In theory a house selling for well below market when the buyer and seller have no family connection could suggest that cash changed hands off the books. That would be of interest to Revenue... and CAB.
 
 
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