Revaluation of Clawback for Wyckham Point.

[dshakey]

Hey,
Has anyone got a revaluations from the council for their AH apartment?

Council are valuing the property at 420,000
I am paying 260,000
So the claw back is 38.1%


I don’t believe the value ir 420,000 more closer to 400,000 or less.

My apartment is 66m2 but there is apartments from 70-80m2 selling for the same price.

 

[FTB1975]

Hi,
I'm having similar issues with DCC....my 2 bed ground floor in Fairview was valued at 375.....3 beds are on the open market for this at the moment. As soon as I mentioned getting an independent valuation they rang me the next day to say all developments being re-valued.

Maybe talk to SDCC and see are they doing the same given the current climate....find out when their valuation was done if it was 6 months ago then they'd have to re-do it really.

Im not expecting the re-valuaiton to come near to the actual current MV for my apt which is on Myhome.ie and Sherry Fitz for 350K but if it doesn't I'll definitely be getting an independent valuation done.

it might be worth a try.

 

[dshakey]

just got back my reply from the council and do say it is correct. due to the size, space etc.
it will be interesting to see what the bank valuation will be!!

 

[FTB1975]

Don't hold your breath on the bank valuation.....they'll only value for purpose of covering the mortgage so don't really give a hoot cos your mortgage is based on the actual purchase price not the market value on the open market.
My advice is if you really want a reduction on your claw-back in line with recent developments in the property sector then go for an independent valuation....it might be worth every penny in the long run.