Will the Council buy back Affordable house?

[dalkener]

Hey,

Just curious, does anybody know if the South Dublin CC will buy an affordable house back?

Have lived in 2 bed apartment for the last 3 years and now looking to buy a house. I'm well aware of the conditions regarding clawback etc.. as the market value of the property has now dropped from 365k to 240k I know I will only receive back the mortgage amount I paid, 140k.

Therefore, I don't really care what price the apartment gets sold for(once it's not below 140k). Would be handier if the council just bought me out rather than going through the hassle of putting the property on the open market.

Any ideas, thanks.

 

[samanthajane]

I dont know about DCC but i would think they have similar rules to fingal CC. And they dont buy back houses you have to sell them on the open market. From what i was told when i rang regarding a friends house, "the house has nothing to do with us anymore once the purchase has gone through"

You never know it might happen one day it would make more sense then there is another property for someone else to buy at an affordable house. To me it makes sense that once an affordable house it would be good to keep it an affordable house, but it's not the way they work.

The house price may have dropped but i would still try and get as much as you can for the appartment, You only have to repay a % in the claw back, you could end up with a few thousand in your pocket.