Negotiate Clawback % ?

I'm sorry I think this may of been covered before but I'm looking for advice from anyone who has been in the situation lately ...

I'm buying a 2 bed house from Fingal for 186,500 . They stated the market value is 255k , therefore the clawback is 26.86%.

The bank have valued it at 235k, can i get the clawback reduced ? ( it would then be 20.64% ) Do I get onto my solicitor to negotiate this ? Ive signed no contracts at this stage , just received final loan approval.

If anybody has been in similiar position i'd be grateful to hear , cheers

Hi...

The Clawback will be reduced or put at higher stage....it depends when u r selling it....and what the market price at that moment is.....You havent to do anythng right now with the clawback....If i am not wrong...

I'm not willing to sign contracts saying I owe them 26.86% , 68,500 euros when according to the bank valuation It should only be 20.64% , 48,500 euros . I'm hoping my solicitor sees my point !!

I know its only an issue if i sell within the time period but still i'd like the best value possible .

Oh....Ya....now i understand what u mean......Fingal county council so have to revalue them. They must have old values....and your sollicitor will understand u for sure...

I negiotated with dlrcc and got my clawback reduced. I did it by getting an independent valuation done and sending that it. I then rang and rang til they lowered it. Good luck.

EDIT: I got mind revalued 3 times before I settled and could have kept going...could still be going now a year later and prices still dropping!!!

Thanks seonewbie , did you just get a local estate agent to do the valuation ? Can i ask how much it cost ? PM me if you prefer - cheers !!

hey, you could use the valuation from the bank...I just looked up yellow pages and picked one out. The reason I got an independent valuer was because I didn't use the banks valuer as it was cheaper to get somone else. As you have it, you could just use the banks. In my case once the I sent in the valuation, then a council valuer had to go out and value it. They didn't just take my word on it. Good luck.

Great seonewbie thanks. I'll give them a ring in january.
Have a good christmas