Dublin City Council to reduce Affordable Housing Prices

Hi guys,
Yeah I saw it....does anyone know if it'll impact someone at the snagging stage...ie offer made but no contracts signed.
Also, as my valuation has come back 50K less than the one DCC carried out in Nov I'm wondeirng if this latest development could be used as leverage to get my calw-back reduced?
Anyone have any thoughts?
Thanks
FTB1975
 
FTB I am at the same stage as you - my recent valuation has come back nearly 50K less than the one DCC carried out in August

I sent my valuation into Dublin City and they said they would have to have their valuation redone but they should be able to do something for me. So id get that revaluation into them.

They said they wouldnt be able to reudce the actual prices though
 
Hi DublinGirl11,

Yeah they already re-valued mine obviously when they knew people were beginning to kick up a stink about the over-inflated value in todays market and it came in at 340K.

But now to make matters worse I've just discovered the valuation for my mortgage (€290k as of Monday) is less than the required 85% LTV so I can't borrow the amount I need. Im in the same boat as all the posters on the Marrsfield thread!!!:(

Note sure if in this instance DCC would consider lowering the purchase price considering they're thinking of doing it for people who are eligible for the scheme but haven't applied as pointed out at yesterday's council meeting...which is ridiculous!! Some people have been waiting for years and they'd consider giving properties to people just to get rthem off their hands....it's all a mess if ya ask me!

Thank god I didn't go buying my 37 inch panasonic plasma last night:eek:
 
lol i know i have my eye on a couch but luckly didnt buy yet
I just dont see why they would help us out i.e. the people who are alraedy in the process that contracts have been issued and what are willing to buy instead of us dropping out and then they have the houses that we have dropped out of aswell
 
Hi,
I know....I mean we are ready to go....it's just the current market and the valuation coming in a lot lower than needed to secure the mortgage that's holding everything up.

And the solution is to reduce the purchase price...which they're planning on doing anyway so why not do it for those of us who are already buying stuff for our apartments.....I mean it's in everyone's interest to just get the job done!

Ok I'm gonna ring DCC now and plead my case and see what they can do! I'll keep ya posted:)
 
i've put a deposit down for an AH in Quarry Road Cabra. i haven't signed any contracts yet. spoke to a guy in DCC and said they will revalue apartment and reduce the clawback.

i think everyone should contact DCC and tell them we are all pulling out unless the actual purchase price is dropped!! Just reducing the claw back is no help to us now! if everyone sticks together they will have no option but to review the situation.
 
here here but i got told the same will reduce clawback but thats all
but then whats to stop us pulling out and then going to one of their sites and then buying it cheaper and without the clawback
Its all such a mess
 
At least you's can argue it!! I signed and moved into my house 4 weeks ago and i'm sick over it now!!! If i had have held off then i could have got another 50grand off the price with a 25% discount!!! Ah sure i guess thats the risk ya have to take!
 
Is it up to us to fight with Dublin City or do we get our Solicitors to do it
Mine seems reluctant and says its me that needs to do it
 
I would say that you's need to hound the council for it - don't sign your contracts until your satisfied with the reduction...
 
Hi girls,
i've just been onto DCC.....explained my mortgage won't go through cos my valuation is way lower than one DCC carried out in November last. Theyr'e willing to re-value.....and/or reduce the price. Told him to proceed with my sale I need the price reduced as instructed by my mortgage broker.

So he said yeah there's a lot of people in the same situation so I asked "Specific to my situation...what will happen?" and I was told " We'll re-value and see what that comes to and we'll lower the price if we need to for you to secure your mortgage, basically once your bank is happy to go ahead and offer you the mortgage"

Dublingirl11/Claire..... I'd get back onto DCC....if you're in the same boat as me ie need to come up with more of a deposit then a reduced claw-back is no use to you right now really.....but even still you'd want to the price reduced anyway.

It's all over the news....they badly need to get rid of these apartments/houses and I was also told any of us who are near the end of the line will be treated as a priority.

Then again it could all just be a spiel to stop me going off the deep end at him but he seemed pretty genuine unless my BS-meter is way out of whack today:)
 
Hi All,

I have been offered an apartment in cork st which i verbaly accepted in feb last year,
A whole year later i am still not in,
The market value plumeted as did the discount percentage.
The valuations i had caried out never matched the councils so the council reluctantly ad it revalued, this valuation was still too high.
Now the apartment needs to be revalued again because it has been 6 months since the last valuation from the council and the private market value is again below the councils un realistic valuation of the property.

What is the story with just the clawback being reduced?

Does anyone know if it is illegal for the council to offer a property at a certain percentage discount from one valuation and then when they re value it themself not give the same percentage discount off the new valuation?

Is
 
Hi All,

I have been offered an apartment in cork st which i verbaly accepted in feb last year,
A whole year later i am still not in,
The market value plumeted as did the discount percentage.
The valuations i had caried out never matched the councils so the council reluctantly ad it revalued, this valuation was still too high.
Now the apartment needs to be revalued again because it has been 6 months since the last valuation from the council and the private market value is again below the councils un realistic valuation of the property.
Rejuivination of the area has halted and the apartments are full of grafiti.

What is the story with just the clawback being reduced?

Does anyone know if it is illegal for the council to offer a property at a certain percentage discount from one valuation and then when they re value it themself not give the same percentage discount off the new valuation?

Is this not false advertising?
I got snag lists done. ( the plaster walls were lose and falling down )

I am so annoyed that the council have offered me this apartment knowing that it does not suite my needs, as i discussed parking, area and price with them.
All the above delayed me securing a mortgage so in my opinion the council have created their own mess by not offering me something more suitable from their EXCESS STOCK!

I have now spoken to my solicitor about the price decrease and instructed him to contact the council about a discount as the council would not respond to me.

If the council do not make the affordable home affordable they will only have themselves to blame for loosing 12 months of service charges (1800 euro) for this unit and 12 months bridging loans ( apparently 12k ), I will drop the offer and then they will loose another 12 months doing it all again with the next poor sod.

Am i just being ungreatful?
 
Hey Kurby,
That sounds like a right mess!! I'd imagine your solicitor will have no joy with the price reduction....you really need to talk to them yourself. Are you fully mortgage approved or are you facing coming up with more of a deposit due to the differing valuations?
DCC are reducing their prices..it's in all the papers, on the news etc. I told them straight unless you drop the price I can't complete.....they said we'll re-value (again, this will be the 2nd re-val DCC have carried out in 2 months) and if my bank are still not in agreement re. the mortgage offer then they'll drop the price. I think it really depends on who's looking after your development in there.

If I were you I'd get on to your local councillor as they might've been present at the council meeting that was held on Tuesday of this week and may be able to give you a better idea.

Best of luck
 
Hey kurby,
I know it's been a lot of hassle for you but I think you've been sort of lucky.
I jumped at the first offer i got cos I thought i was lucky to get one (didn't know about excess stock). It was not in an area I wanted but I decided I'd make do.
I've only been in it about 2 months and now prices are being reduced by 25%.
I think if i was moving in now my clawback would be zero.
So there may at least be some bright side to your problems.
As for myself - I just curse my bad timing!
 
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