Price reduction AH?

Southfacing

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I am going into my Local Council tomorrow to try and re-negeotiate downward the asking price they have for affordable houses they are offering.

Has anybody any examples or knowledge of this happening around the country which would support my case.

Thanks for any help. :confused:
 
hey, I got an independent valuation and then sent this into the council who then gor their surveyors to review it. The market value was then reduced to what their surveyors agreed and the clawback changed.

Edit - Mine was in Dublin if that helps!
 
I have raised this issue with Joan Burton and Pat Rabbite of the Labour Party. They are contacting the relevant councils in Dublin and will revert back to me.
I would advise any potential purchaser through the scheme to hold fire for the time being.
 
Unfortunately can't - I have to close within 2.5 weeks! But keep us updated as if they get a reply soon maybe it could come into force before that but i doubt it with the speed they move at!
 
Hi,

I would also like to know if I can get the Council to reduce the clawback. When I put my deposit on the apartment in August I was told that it was worth €365,000 but that the apartments were all going to be revalued. Just got the letter today, the price is now €340,000 which I know is a good reduction but my valuation came in at €320,000 so thats a difference of €20,000. Should I send in my valuation and see if they are willing to reduce it further do you think?
 
Delphi,
absolutely you should send in your valuation, it constantly surprises me how trusting people are with complete strangers when it comes to their finances. The person on the other end of the phone in the Council is a clerical worker and whilst they are only doing their job, they are not the person to take advice from when it comes to sorting out your financial commitments. Get the contact details of the manager and make sure all dealings are with him or her. You need to be persistant and be prepared to walk away if need be, personally I wouldn't touch affordable housing at the minute because of its valuation problems, this needs to be sorted out, the affordable housing applicant shouldn't be burdened with the council's debts, ie with apartments that have fallen in value.
As an alternative would you consider going directly to the developer and offering a percentage below the asking price? that way you would be free from the clawback etc. hth
 
Hi guys,

My original post was not refering to a reduction in the claw back due to the decreases in market value. My local authority are very good in relation to this. The house I have been offered was just valued and I am delighted with the valuation, which is 50,000 grand cheaper than they were originally looking for last November and if anything it seems to undervalue the house relative to what other houses albeit a few are selling for nearby.

What I was refering to was whether anyone had been able to negotiate down the affordable housing price that the council were asking for. I was offered an affordable house last November but due to problems with the builders it is only recently ready. Since the market values had dropped so dramatically since last November I was hoping that I could negeotiate some reduction in the affordable housing price as well as the clawback.

I tried to do this last week without success as I was informed that this was the price they had paid the builder and that they had no other funds available to them to reduce the asking price, which i believe as they are a small town council.

I was informed though that some of the bigger councils are open to negotiation of the affordable price (not the market value/clawback) as they have monies available in their budgets form previous clawbacks where they have made money, which I am sure should be of interest to thoses looking to buy in the bigger urban areas.
 
Wouldn't say the council would reduce actual price you would pay. I got a property from Dundalk Town Council (about to close sale). Purchase price 182k. Original market value 240k (Dec 07, time of original offer) reduced to 200k by council. Clawback, was 24%, now 9%.
 
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