current market value

lollops

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has anyone had their AH valued themselves before buying?

I'm just concerned that I'm definitly getting it at the current market value. I'm sure the apt's have dropped in value since last year when the newsletter came out?
 
hey i had my house valued. the bank you apply to will value it for you and you can get an independant valuer for €127 - if you have already signed there will be an issue changing the valuation
 
the bank you apply to will value it for you and you can get an independant valuer for €127

Are you sure it's the bank that do this and that they don't dole it out to a local auctioneer/estate agent ?
 
well I haven't signed anything yet, but I'm expecting to on thursday (when I go to view) So what should I do between now and then to ensure?
 
Are you sure it's the bank that do this and that they don't dole it out to a local auctioneer/estate agent ?

the bank organise a valuer who works for them to carry out the valuation before they give you a mortgage.

They want to make sure the house is worth the value you are borrowing. So if you can no longer pay your mortgage and they have to repocess the property it is worth something.
 
well I haven't signed anything yet, but I'm expecting to on thursday (when I go to view) So what should I do between now and then to ensure?

On thursady they will most likely ask you for a booking deposit.

When you pay this u are still able to pull out and get this money back.

Check with your solicitor - and get back on to the AHP and tell them you want to get the house valued.
 
Can anyone recommend a company to perform an independent valuation? I assume this would be a chartered surveyor, right?
 
IAVI do independent valuations as far as I know. Bank is a good option though. In the current climate they are not going to value a property above what it's worth.

Has anyone asked the councils for the exact procedure to be followed when selling in the future? If the market falls further and we are selling in the future below market values how will the council determine what we can sell at?

I asked the question and got a very inadequate answer - 'you just sell yourself and pay us the clawback'. I can't believe it's as simple as that. We might find ourselves trapped in the future if the councils inflate the valuation again when we are trying to sell? What do people think?
 
I got Empire Consulting to do a valuation on my affordable home. They are based on Morehampton Road, Donnybrook. They seem to be property market analysts and their valuation report was very effective, clear and concise. I forwarded their valuation to DL RD Co Co and I believe their valuation report helped push the council into putting a realistic valuation on the property.

Banks valuers are under an obligation inflate valuations to allow the bank lend money and are seldom objective and their valuations rarely correct. I have been told by auctioneers than they generally ask what the last property in the development sold for and put that price down as the valuation.

I have no connection with Empire Consulting.
 
Thanks for that.

How exactly did empire arrive at their final valuation, in your opinion, if not on the basis of actual recent sales in the area?
 
The valuer goes out to visit the property, has a look and basis the valuation on the condition of the property and the location
 
My affordable house is valued at 320000, my mortgage company have valued it at 270000. The process is underway, about to start all the solictor stuff. should i ask the council about this 50000 gap in value. do they even care?
anyone advise?
 
Yes, do talk to them about the gap in the market value. Many affordable properties were initially valued 6 or more months ago. You could tell them that you're interested but will pull out if they do not get a revalutation done. All of the Dublin Councils have revalued properties at different times.

If you post the name of the development in a new thread and ask for others buying there to talk to the council about valuations you will have more bargaining power. It has been done lots of times. You are paying clawback over the odds if you settle for inflated MV. Best of luck.
 
Just on this topic,

I signed originally for my house 10months ago, my mortgage lenders valuation was the same as DCCs at that time. Im reaching the closing stages now & mortgage lender will be completing a final evaluation in the next week or so, if there was to be such a major difference in valuation (between DCC & lenders) anyone any idea would I have a hope of DCC re-evaluating there valuation?

Thanks in advance
 
DCC's valuation of my apt is 370,000. I think thats way too high!

anyway...I was onto the bank where I'm getting my mortgage and one of the things I've to send them is a draft for 130 euro, and thats for their valuer to go and value the apt. So it'll be interesting to see the results...and even more interesting to see if it makes a blind bit of difference.
 
Rang the council, no joy. said no chance of it being changed. thats thier valuation and they are sticking with it.
 
hi, we've just paid deposit and awaiting loan approval, anyone knows wha's the next procedure pls? When do I need to get a solicitor and surveyor and valuation?
 
hi, we've just paid deposit and awaiting loan approval, anyone knows wha's the next procedure pls? When do I need to get a solicitor and surveyor and valuation?


The bank will organise a valuer - then you will get your final approval

then you begin the long road to completeing your snag!!!

Best of Luck :)
 
If the council backs down and you get a property re-valued downwards, what happens? Do you get a reduced clawback percentage, or will the actual price you pay go down?

I am buying in Dundalk, and the apt was originally valued at €240,000 last Autumn. The bank valued it at €220,000 at Xmas. Now similarly speced new apts are for sale in the town for below €215,000 on the open market. My solicitor has sent the council requesting a re-valuation pending signing of contracts. I know of others doing the same.
 
If the council backs down and you get a property re-valued downwards, what happens? Do you get a reduced clawback percentage, or will the actual price you pay go down?

I am buying in Dundalk, and the apt was originally valued at €240,000 last Autumn. The bank valued it at €220,000 at Xmas. Now similarly speced new apts are for sale in the town for below €215,000 on the open market. My solicitor has sent the council requesting a re-valuation pending signing of contracts. I know of others doing the same.

they will not reduce the purchase price in my experience however they will reduce the percentage clawback and the valuation

this will mean you pay back less when you sell
 
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