NSW Really low sales prices in research?

Discussion in 'Property Analysis' started by 1474, 10th Jun, 2017.

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  1. 1474

    1474 Active Member

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    Does anyone know what the really low sold prices on homes represents?

    E.g. sale price recorded as $14000 on a 400k+ house!
     
    1474, 10th Jun, 2017
    #1
  2. Steven Ryan

    Steven Ryan Well-Known Member

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    Usually human error Sometimes partial sale/transfer, subdivision.

    Occasionally an incredible buy :)
     
    Steven Ryan, 10th Jun, 2017
    #2
    Perthguy likes this.
  3. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    Usually a transfer. House was owned by numerous parties and one of them bought the other out. The buyout price is the price that is listed on the sales history.
     
    eletronic_exp0430, 12th Jun, 2017
    #3
  4. Scott No Mates

    Scott No Mates Well-Known Member

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    Related party transfers generally.
     
    Scott No Mates, 12th Jun, 2017
    #4
  5. GSD

    GSD Active Member

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    You guys a right.

    In a past transaction, i bought my wife's half of our property.
     
    GSD, 15th Jun, 2017
    #5
  6. 1474

    1474 Active Member

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    Thanks all!
    So does that actually mean that if there was a 30k mortgage left on property, husband would say buy her out for 15k?
     
    1474, 17th Jun, 2017
    #6
  7. Scott No Mates

    Scott No Mates Well-Known Member

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    Scott No Mates, 17th Jun, 2017
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  8. GSD

    GSD Active Member

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    I believe it must me at fair market value
     
    GSD, 19th Jun, 2017
    #8
  9. aussieB

    aussieB Well-Known Member

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    Did you have to pay stamp duty on this transaction ?
     
    aussieB, 21st Jun, 2017
    #9
  10. GSD

    GSD Active Member

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    Yes.
     
    GSD, 21st Jun, 2017
    #10
  11. Marg4000

    Marg4000 Well-Known Member

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    I believe it can be any price, but stamp duty (if applicable) must be paid on fair market value.
    Marg
     
    Marg4000, 21st Jun, 2017
    #11
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