Re: Clawback reduced but still €20,000 of a difference

Hi, the apartment that I am in the process of buying (buying for €240,000) was reduced from €365,000 to €340,000 by the council which was great but my valuation is for €320,000. That's a difference of €20,000. How can there still be such a hugh difference? I have been told that it wont be reduced again.

I was told that a lot of apartments have been overvalued and that the €20,000 of a difference was for the parking. But surely that would have been taken into consideration? I was also told that I am getting the apartment for €100,000 cheaper (am I not allowed to argue my point of view because I'm getting it cheaper?) Do I have to accept this?

Was this recently and where are you buying if you don't mind me asking?

Last week and buying in Herberton, Dublin 8

Hi Delphi,

Did you get your offer on these apartments from the June offers? I was told I had an option on these apartments too but haven't even been in to view an apartment.

Was there a good choice when went to buy yours?

cerebral said:

Hi Delphi,

Did you get your offer on these apartments from the June offers? I was told I had an option on these apartments too but haven't even been in to view an apartment.

Was there a good choice when went to buy yours?

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Hi Cerebral,

I got offered the apartment from the March booklet.

I was told that I would have the choice of 8 apartments to choose from which I thought was fab but it depends on where you are on the list as when we all got there we were told to view the 8 apts and then the people on top of the list got to choose first meaning that by the end of it you only really have about 1 or 2 to choose from unless you were very lucky.

You view the apts and then your name is called from the list and you tell the estate agent which apt you want but by then you may only have 1 or 2 to choose from. So make sure if the same happens to you that you have more than 1 preference and take as long as you like to make up your mind (we were all there from 5-8pm that evening) I was not at the top of the list but I was lucky to get an apt with parking so I was happy but found it very stressful to say the least.

All the appliances are included which is great and the bathrooms and kitchen are tiled.

Hope your not waiting too much longer to view the apartments. You should ring DCC and ask them will you have a choice and ask where you will be on the list.

Best of luck and hope you get what you want.

Delphi

Thanks Delphi, that's helpful. Have been called for a viewing on Wednesday so will have to wait and see I suppose.

Hi Delphi,
If you dont mind me asking, who did you get to do your valuation and how much were they?
I'm in the same boat with DCC for a 2 bed in Fairview....the MV is 375k....for a 2 bed ground floor They've said they're re-valuaing everything at the moment but not holding out much hope for a serious claw-back reduction!
Feel free to PM me with the details.
Thanks a mil,
FTB1975

FTB1975 said:

Hi Delphi,
If you dont mind me asking, who did you get to do your valuation and how much were they?
I'm in the same boat with DCC for a 2 bed in Fairview....the MV is 375k....for a 2 bed ground floor They've said they're re-valuaing everything at the moment but not holding out much hope for a serious claw-back reduction!
Feel free to PM me with the details.
Thanks a mil,
FTB1975

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Hi FTB1975,

When I paid my deposit DCC had the apartment valued at €365,000 but said that all the apartments would be revalued. The Banks valuation came in at €320,000 and DCC's came in at €340,000. I was still concerned about the difference but I was told basically to take it or leave it. Decided to go ahead as its in the location that I want.

Just wait and see what valuation DCC come back with. If there is a difference you should still try and get it reduced (nothing to lose by asking). Just make sure to send in a copy of your valuation.

Best of luck
Delphi

Mikeyg1978 said:

Hi everyone,
just paid my booking deposit for a 2 bed in block A - hopefully moving in March 2009. I have an option of buying the parking space for €20,000 and i was wondering what peoples thoughts are - is it a good move?

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Hi Mikeyg1978,

I think you should buy the parking space IMO. Its a lot of money but if you were to sell the apartment in the future it would sell quicker with a parking space. Even if you dont use it yourself you could always rent the car space out.