Z
zen
Guest
Folks
As you know I'm an active critic of this scam. Being mislead each and ever step along the way and being strangled by terms and conditions that were not made available to us and punished on so many levels through no fault of our own.
I'm in the process of selling my unit in the hope to escape the vampire claws of of DCC after years torment.
To my horror I discovered yet another thing I thought I'd fully understood, but didn't. The CLAWBACK clause....
My understanding (and EVERYONE I know in this situation) was that if you sold your AH unit above what you paid for you'd have to pay the CLAWBACK (28% in my case). This was because people were not to be making money of a government scheme. Totally understandable.
NB:- It turns out there is a CONFISCATION, then there is the CLAWBACK. Allow me to explain using simple figures.
Original value of property is 200k
Bought the property for 150k (50k or 25% discount aka Clawback)
Sale Agreed for 170k (20k above bought price)
My understanding was that the 20k was subjected to the 25% CLAWBACK,,,, but NOOOOOO. THAT ENTIRE 20K IS TOTALLY CONFISCATED!!!!!!!!!!!!!
I've been informed by DCC that anything above the ORIGINAL MARKET PRICE of 200k would be liable for the 25%.
ITS A DOUBLE WHAMMY!!!!!!!! The first amount from what you paid and the original market value is DIRECTLY CONFISCATED and the second amount above the original market value is subjected to the CLAWBACK!!!!!!
If your selling your Affordable Home property THERE IS NO POINT NEGOTIATING ANYTHING ABOVE WHAT YOU PAID FOR AS IT WILL BE CONFISCATED.
I'm using an excellent solicitor and a agent that are both familiar with this scheme. PM me if you are going through this process or thinking about this and I'll see if I can offer some free advice based on my experience.
As you know I'm an active critic of this scam. Being mislead each and ever step along the way and being strangled by terms and conditions that were not made available to us and punished on so many levels through no fault of our own.
I'm in the process of selling my unit in the hope to escape the vampire claws of of DCC after years torment.
To my horror I discovered yet another thing I thought I'd fully understood, but didn't. The CLAWBACK clause....
My understanding (and EVERYONE I know in this situation) was that if you sold your AH unit above what you paid for you'd have to pay the CLAWBACK (28% in my case). This was because people were not to be making money of a government scheme. Totally understandable.
NB:- It turns out there is a CONFISCATION, then there is the CLAWBACK. Allow me to explain using simple figures.
Original value of property is 200k
Bought the property for 150k (50k or 25% discount aka Clawback)
Sale Agreed for 170k (20k above bought price)
My understanding was that the 20k was subjected to the 25% CLAWBACK,,,, but NOOOOOO. THAT ENTIRE 20K IS TOTALLY CONFISCATED!!!!!!!!!!!!!
I've been informed by DCC that anything above the ORIGINAL MARKET PRICE of 200k would be liable for the 25%.
ITS A DOUBLE WHAMMY!!!!!!!! The first amount from what you paid and the original market value is DIRECTLY CONFISCATED and the second amount above the original market value is subjected to the CLAWBACK!!!!!!
If your selling your Affordable Home property THERE IS NO POINT NEGOTIATING ANYTHING ABOVE WHAT YOU PAID FOR AS IT WILL BE CONFISCATED.
I'm using an excellent solicitor and a agent that are both familiar with this scheme. PM me if you are going through this process or thinking about this and I'll see if I can offer some free advice based on my experience.