Offered AH in Belmayne issue with valuation

S

sfninja

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Hi all looking for some advice/tips.
We have signed on the dotted line to purchase a 3 bed house in Belmayne. However the valuation by the council that we signed initially was 370,000 (MP)but after getting our own valuation the property is now worth 340,000. to cut a long story short, if all goes to plan we need the DCC to drop prices by about 5000. Has anybody`successfully negotiated with the DCC on AH prices?
Thanks
 
Hi,
I had the same problem with DCC with an apt in Richmond Hall. I coudn't secure the mortgage based on the difference in valuations so they dropped the price for me but it still wasn't low enough. In the end I had to come up with the difference myself. I know there are some threads on here where people have been successful so you never know.

On another note, are you aware none of the proposed retail development i.e the town square is going to be carried out in Belmayne? Just wanted to point that out as I was also offered an apt in Belmayne and at the beginning of this year I backed out as all work had halted on the site. I was up there only recently to see how much work had been done on the block I'd intended buyng in and it was exactly as I'd left it in Aug last year.....a ghost town. Maybe the houses are different as there may be a better chance of selling them.

best of luck anyway
FTB1975
 
I was with DLRC and I had my market value reduced by €60,000. It required me paying a valuer for three visits but it was worth it the end as they did reduce it but only have three independent valuations from my end and three from the county coucil valuer.
 
I don't know. I used a surveyor that is on the list of approved valuers for the banks/building societies. Same as you pay your bank for when you apply for a mortgage just independent.
 
really??ye got the price adjusted? because so far from our dealings with the council it seems that they would rather sell the house privately than reduce the affordable price. How did you get the price reduced and how recent was this?
Seonewbie what is DLRC?
have ye any advice on how to approach the council?
 
DLRC - Dun Loaghaire Rathdown County Council

Sorry it wasn't the price I paid that dropped, it was the market value so although paying the same price, the clawback was alot less.

I just got the valuation, sent it in to the person looking after my application in the concil who then organised for a council valuer to go out and view the apt. Because the process took about 4 months and prices were crashing quickly, that's why I had to have so many valuations. I also rang and nagged alot which although very painful for me and them probably helped a little. This all happened between august and december 2008.
 
Seonewbie said:
DLRC - Dun Loaghaire Rathdown County Council

Sorry it wasn't the price I paid that dropped, it was the market value so although paying the same price, the clawback was alot less.

I just got the valuation, sent it in to the person looking after my application in the concil who then organised for a council valuer to go out and view the apt. Because the process took about 4 months and prices were crashing quickly, that's why I had to have so many valuations. I also rang and nagged alot which although very painful for me and them probably helped a little. This all happened between august and december 2008.
Click to expand...

ah ok. the clawback is related to the market value then? apparently now though the clawback is scrapped....
 
Re: Offered AH, issue with valuation

sfninja said:
Hi all looking for some advice/tips.
We have signed on the dotted line to purchase a 3 bed house in Belmayne. However the valuation by the council that we signed initially was 370,000 (MP)but after getting our own valuation the property is now worth 340,000. to cut a long story short, if all goes to plan we need the DCC to drop prices by about 5000. Has anybody`successfully negotiated with the DCC on AH prices?
Thanks
Click to expand...
 
Hi,
When you say the claw-back is scrapped what do you mean exactly? Are you confusing it with the recent change in the event you want to re-mortgage?

I did manage to get DCC to drop the asking price back in Jan, they redueced by 15K but it still wasn't enough and I still had to come up with the difference between what I was being offered and the asking price.

From reading posts here plenty of people have had their price reduced by DCC....I'd go back to them and tell them you know the plans for the Town Square in Belmayne aren't going ahead etc etc. See the link below:

[broken link removed]

This might be enough justification to get DCC to reduce the asking price by the 5k you need...they may just reduce the valuation though.
 
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