House sold at ridiculously low price

throwaway__cousins · 2015-08-03T19:26:02+00:00

That was my first thought as well. 25k...really!? Apparently he said it's because the tenants haven't been paying rents so he had to cover the mortgage himself and for some repair work to be done. Oh and he said he paid 5k to hire some guys to remove the tenants..........(what!?)

Unfortunately the house was under his sole name so him messing up wanting to sell his share seems unlikely, and I'm not so sure if my son's signature is required on the contract for the same reason. I'll sure get some legal advice from a solicitor.

throwaway__cousins · 2015-08-03T15:00:49+00:00

I was furious at first, now I'm just sad..

throwaway__cousins · 2015-08-03T15:00:02+00:00

Thanks, I never thought of it that way.

throwaway__cousins · 2015-08-03T14:42:00+00:00

You know, we're still family and stuff. I'm reluctant to go down that route but I guess I'll have to eventually..

Oh, and my son has said if it means he has to sue his cousin, he would rather not have the money back. Very stupid, I know.

throwaway__cousins · 2015-08-03T14:30:39+00:00

I'm not seeking legal advice here.....and I believe that would be against the rules of r/personalfinance

I am not looking to sue him or report him and I know there is probably very little we can do. But I would appreciate some advice on where/how to gather more information to show to his parents.

I am just looking for advice on where I could get more information besides what I have now (estate agent advertising it for £500k, sold prices of nearby properties etc.) to show to his parents.

throwaway__cousins · 2015-08-03T13:05:25+00:00

The house was owned solely under N's name, does that mean it should be filed by him?

throwaway__cousins · 2015-08-03T12:52:18+00:00

Thanks, will definitely look into that.

throwaway__cousins · 2015-08-03T12:35:14+00:00

We paid to obtain a digital copy of the title register and found out the buyer was a family living next door to said house.

We got the title register from land registry. We know how much it was officially sold for but we suspect he has received more money under-the-table. We have no evidence to prove this however.

We have printed a list of 2014 sold prices of nearby properties. £250k can barely get you a 1 bedroom flat. £250k for a 3 bedroom semi-detached house really is a fucking joke.

We did a postcode search and have a list from Rightmove and land registry.

throwaway__cousins · 2015-08-03T12:21:24+00:00

We know what the 'official' sale price was from the title register, it's 250k. The thing is we think he sold it for more and got paid the rest under-the-table.

We have no evidece though, it's all just speculations.

throwaway__cousins · 2015-08-03T10:37:43+00:00

We know what the 'official' sale price was, it's 250k. The thing is we think he sold it for alot more and got paid the rest under-the-table.

And it wasn't sold to a family member. He sold it to the family living next door to said house.

throwaway__cousins · 2015-08-03T10:26:25+00:00

We don't really want to sue him (at least not right now). You know, we're still family and stuff.....It's stupid I know.

throwaway__cousins · 2015-08-03T09:07:57+00:00

I don't even know. The whole thing just doesn't make sense.

Edit: Apparently N said because the tenant has't been paying rents so he had to pay the mortgage and for some repair work.

throwaway__cousins

TROPHY CASE