Does anyone know how I can have the price of a house I bought not becoming a public record on sites such as homes.co.nz etc? I have seen some prices of recently sold houses being withheld and not recorded on these sites. I have a personal reason behind why I don't want it recorded, so please do not ask this.

catdog68 - 2021-10-15 17:28:00

The member deleted this message.

andrew697 - 2021-10-15 18:10:00

Not legally.

You are legally required to lodge a Sales Notice with the local council within one month of settlement. If a solicitor acted for you, they are responsible for lodging this notice. The sales notice must include the names of the new owners and the sales price.

https://www.legislation.govt.nz/act/public/2002/0006/latest/
DLM132269.html

Councils are permitted to sell this data along with the other council rating data (with the exception of owner's names) to third parties.

https://www.legislation.govt.nz/act/public/1998/0069/latest/
whole.html#DLM427711

sparkychap - 2021-10-15 18:18:00

Where Homes display a sale as not disclosed, that's because its sold, but not settled. When the Council sale comes through, they display the sales price.

As above, you can ask QV, but they generally don't suppress a sale except for really good reasons.

sparkychap - 2021-10-15 18:23:00

sparkychap wrote:

Not legally.

You are legally required to lodge a Sales Notice with the local council within one month of settlement. If a solicitor acted for you, they are responsible for lodging this notice. The sales notice must include the names of the new owners and the sales price.

https://www.legislation.govt.nz/act/public/2002/0006/latest/
DLM132269.html

Councils are permitted to sell this data along with the other council rating data (with the exception of owner's names) to third parties.

https://www.legislation.govt.nz/act/public/1998/0069/latest/
whole.html#DLM427711

Depending the change of ownership is filed with the council you can instruct them to keep it confidential - a bit like having your phone number ex-directory. It’s certainly an option when you use Sales Direct.

sarahb5 - 2021-10-15 19:31:00

The details of my last house do not appear on homes.co.nz any more.
They vanished about a year ago. What a pity, because I am proud of my restoration.
I bought it for $29,500 and it was last sold for $2,650,000 and it was last valued at $3,000,000

trade4us2 - 2021-10-15 19:35:00

sparkychap wrote:

Where Homes display a sale as not disclosed, that's because its sold, but not settled. When the Council sale comes through, they display the sales price.

As above, you can ask QV, but they generally don't suppress a sale except for really good reasons.

When a house is sold it states the date of sale and "TBC" and that usually takes 2-3 months before price is published, but there are some that state "Price Withheld" and they have the date of sale. I will check with my lawyer as we have only gone unconditional and do not settle for another 3 weeks. Thanks for your input.

catdog68 - 2021-10-15 21:01:00

sarahb5 wrote:

Depending the change of ownership is filed with the council you can instruct them to keep it confidential - a bit like having your phone number ex-directory. It’s certainly an option when you use Sales Direct.

Thanks Sarahb5, I'll talk to my lawyer.

catdog68 - 2021-10-15 21:02:00

catdog68 wrote:

When a house is sold it states the date of sale and "TBC" and that usually takes 2-3 months before price is published, but there are some that state "Price Withheld" and they have the date of sale. I will check with my lawyer as we have only gone unconditional and do not settle for another 3 weeks. Thanks for your input.

That's interesting - do you have an example address of a withheld one please?

PS hope you get a good result.

sparkychap - 2021-10-15 21:51:00

sarahb5 wrote:

Depending the change of ownership is filed with the council you can instruct them to keep it confidential - a bit like having your phone number ex-directory. It’s certainly an option when you use Sales Direct.

That's interesting as the Council has an obligation to make this data available and withholding could also impede the likes of IRD with tax compliance.

sparkychap - 2021-10-15 21:52:00

If you buy at Auction, you have zero chance of keeping it private now. Interest.co.nz lists the results within hours:

https://www.interest.co.nz/property/residential-auction-resu
lts

ian1990 - 2021-10-15 23:41:00

sparkychap wrote:

That's interesting as the Council has an obligation to make this data available and withholding could also impede the likes of IRD with tax compliance.

The data doesn’t have to be public record though

sarahb5 - 2021-10-16 00:18:00

sparkychap wrote:

That's interesting as the Council has an obligation to make this data available and withholding could also impede the likes of IRD with tax compliance.

Hopefully all the agencies with a need such as IRD, Child support people, Justice, Police, DSW have an ability to see behind any restriction put on to stop Joe Blow public seeing it.

I would think that Family Court might if there are queries about assets being hidden from former spouses. Official Assignee re bankrupts etc.

if for Non -molestation orders perhaps the address etc can be withheld from public records.

Edited by shanreagh at 9:53 am, Sat 16 Oct

shanreagh - 2021-10-16 09:52:00

sarahb5 wrote:

The data doesn’t have to be public record though

I disagree - with property the largest asset and debt for New Zealanders, it's a key piece of information in the property economy. Do we really want only real estate agents to know sales prices?

sparkychap - 2021-10-16 09:59:00

shanreagh wrote:

Hopefully all the agencies with a need such as IRD, Child support people, Justice, Police, DSW have an ability to see behind any restriction put on to stop Joe Blow public seeing it.

I would think that Family Court might if there are queries about assets being hidden from former spouses. Official Assignee re bankrupts etc.

if for Non -molestation orders perhaps the address etc can be withheld from public records.

Ownership can be withheld from the Title if the reason meets LINZ's guideline, domestic violence being the most common reason. You also need to suppress it from the Council rates database separately.

But there's a difference between ownership details and the price a property sold for.

sparkychap - 2021-10-16 10:16:00

sparkychap wrote:

........
But there's a difference between ownership details and the price a property sold for.

Yes that is true. Suppressing price details strikes me as slightly odd. Ho hum, as you were.

shanreagh - 2021-10-16 13:57:00

It all begs the question..why should the selling price of a property be made public.
Why should the city council be told that 47 Main street sold for $1,000,000... I can see the reason for them to be told it was sold and who to, but why the price... what use is it to them..
Other than being nosey why do my neighbours need to know how much I paid for a property ??

onl_148 - 2021-10-21 12:20:00

onl_148 wrote:

It all begs the question..why should the selling price of a property be made public.
Why should the city council be told that 47 Main street sold for $1,000,000... I can see the reason for them to be told it was sold and who to, but why the price... what use is it to them..
Other than being nosey why do my neighbours need to know how much I paid for a property ??

But I was wanting to buy 45 Main Street and don’t want to pay to much

toyboy3 - 2021-10-21 13:36:00

toyboy3 wrote:

But I was wanting to buy 45 Main Street and don’t want to pay to much

just pay what the agent tells you. or maybe CV..

Edited by sparkychap at 2:11 pm, Thu 21 Oct

sparkychap - 2021-10-21 14:10:00

sparkychap wrote:

Where Homes display a sale as not disclosed, that's because its sold, but not settled. When the Council sale comes through, they display the sales price.

As above, you can ask QV, but they generally don't suppress a sale except for really good reasons.

Sometimes a sale price isn't put in if it is part of a business set-up which is being sold or if the transaction isn't at an 'arms length'.

brouser3 - 2021-10-21 14:12:00

shanreagh wrote:

Yes that is true. Suppressing price details strikes me as slightly odd. Ho hum, as you were.

Bit like suppressing wage/salary detail information.

brouser3 - 2021-10-21 14:16:00

sparkychap wrote:

just pay what the agent tells you. or maybe CV..

But Olly Newland said make your money when buying and paying too much does not make money early

toyboy3 - 2021-10-21 14:44:00

onl_148 wrote:

It all begs the question..why should the selling price of a property be made public.
Why should the city council be told that 47 Main street sold for $1,000,000... I can see the reason for them to be told it was sold and who to, but why the price... what use is it to them..
Other than being nosey why do my neighbours need to know how much I paid for a property ??

This info is used as an input when rates are set.

shanreagh - 2021-10-21 14:58:00

brouser3 wrote:

Sometimes a sale price isn't put in if it is part of a business set-up which is being sold or if the transaction isn't at an 'arms length'.

There are plenty of reasons why ownership changes without any mobe6 changing hands too

sarahb5 - 2021-10-21 16:28:00

brouser3 wrote:

Sometimes a sale price isn't put in if it is part of a business set-up which is being sold or if the transaction isn't at an 'arms length'.

Yes quite correct. If its a non market sale (for whatever reason) Homes will have the sale shown, but the price is N/A and the code next is S13.

And obviously if its a company purchase there's no transfer because the company still owns the house.

sparkychap - 2021-10-21 16:39:00

onl_148 wrote:

Other than being nosey why do my neighbours need to know how much I paid for a property ??

Why? Are you embarrassed because you paid too much?

sparkychap - 2021-10-21 16:40:00

trade4us2 wrote:

The details of my last house do not appear on homes.co.nz any more.
They vanished about a year ago. What a pity, because I am proud of my restoration.
I bought it for $29,500 and it was last sold for $2,650,000 and it was last valued at $3,000,000

And here's me thinking that this BB was for 'ordinary' people and not the rich prix of society!

tegretol - 2021-10-24 10:28:00

tegretol wrote:

And here's me thinking that this BB was for 'ordinary' people and not the rich prix of society!

$29,500 was a very ordinary price in 1978. About the same as a house in Mt Roskill that I sold.

trade4us2 - 2021-10-24 11:53:00

tegretol wrote:

And here's me thinking that this BB was for 'ordinary' people and not the rich prix of society!

Maybe you should study hard, work hard, go without and save hard and then you'd own your own house like trade4us2.

sparkychap - 2021-10-24 13:29:00

tegretol wrote:

And here's me thinking that this BB was for 'ordinary' people and not the rich prix of society!

Your eyes are so green no doubt they look like Kryptonite.

houseofdad - 2021-10-24 13:39:00

tegretol wrote:

And here's me thinking that this BB was for 'ordinary' people and not the rich prix of society!

And you thought it was the workers voting for Labour? Property Investors never would I'm sure.

pcle - 2021-10-24 14:14:00

Our initial $100 purchase is now worth close to $300,000

joanie04 - 2021-10-24 14:34:00

In the 1970s, people on a lowish income ($2400 pa) could get a State Advances loan at 3.5% instead of the usual 6.5% that developers had to pay.
If we still had that system, house prices would not have gone up so rapidly, because the evil developers couldn't beat the young couple with families.

I worked out that if I rented a house, after 30 years I would have paid $600,000 in rent and have no house. But if I bought a house, after 30 years I would have paid $300,000 towards the mortgage and then own a house which is now worth $1.2 million. Except that the first house was a bit small, so I bought a larger old house which I renovated and is now worth $3 million.

trade4us2 - 2021-10-24 16:00:00