Is it possible to negotiate asking price.

S

Southfacing

Registered User
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Hi there,

I have been offered an affordable house by my LA. The AH price is 204,000 while the market price according to the developer was 278,500 (1/10/2007).

I was offered the house last November but after the developer agreed terms with the LA he slowed the completion of the AH's down to the point that ten months later they are still not complete thought nearly so.

The 204,000 is the price that I assume the LA will pay the Developer for each house so I was wondering since the Market Value of these houses is probably more like 240,000 at present whether it would be possible to renegotiate the AH price with the LA.
 
They should drop the market value, very unlikey that they will lower the asking price. Normally if it is now over-valued you can request a revaluation and they will drop the market value. So in the long term you would pay less clawback.

Send the LA a copy of your bank's valuation. It would also be worth your while checking to see if the houses are being sold privately by an estate agent - often these prices are now far below the council's valuation.

Best of luck.
 
im in the process of disputing my market value price! i havent heard back from them yet!!!
 
Hi there,

I have put a deposit on an apartment in harbour view. I was approved by the mortgage advisor and good to go. I phoned my advisor this morning and he told me that because I'm only buying a 1 bed he was not sure how much I would be able to borrow. He also said that the price that I paid for the apartment was overpriced.

Has anyone heard of the council lowering the asking price? Surely if they lower the market value they'll have to lower the asking price
 
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