E
emilbronte
Guest
I'm a bit confused about what happens if the market value drops. If for example I buy an apartment valued at €400k for €200k I get a 50% discount. If subsequent to buying from the council the market value drops to €300k, the way i understand it I then owe the council €50k in clawback if i have to sell in the first 10 years. But how does this work out, do you have to give them a cheque for €50k? Because as I understand it you wouldn't have built up enough equity in your house to get that amount of cash from a sale. i'm really not good with figures and am obviously a first time buyer, could somebody explain this to me please? Also what happens if the apartment market value actually drops below the original discount price of €200? I'm so confused and the people I call in the council are consistently vague.