Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Selling Affordable Apartment - Experiences

Options
  • 27-06-2014 12:16pm
    #1
    dshakey
    Registered Users Posts: 312 ✭✭


    I am about to start the process of selling my affordable apartment and would like to hear from people that have gone thought process.

    I am lucky that the market value is in around what i paid for it and any profit will go to the council, as the ownership is less then 10 years.

    Did anyone just sell it and give the coucil its share? or did you have to get it valued by the council before you could sell it.

    My fear is that they will value it higher then the market value and find it difficult to sell it, as its in their interest to get the most out it. where i want to cut and run.


Comments

  • Options
    #2
    Kelly06
    Closed Accounts Posts: 509 ✭✭✭Kelly06


    dshakey wrote: »
    I am about to start the process of selling my affordable apartment and would like to hear from people that have gone thought process.

    I am lucky that the market value is in around what i paid for it and any profit will go to the council, as the ownership is less then 10 years.

    Did anyone just sell it and give the coucil its share? or did you have to get it valued by the council before you could sell it.

    My fear is that they will value it higher then the market value and find it difficult to sell it, as its in their interest to get the most out it. where i want to cut and run.

    I think you may be a bit confused....The Council don't value your apartment at all! The amount of money payable to the Council is determined on the amount of profit made i.e the difference between what you bought it for originally and what you sell it for. The claw back is a certain percentage of this amount. This percentage reduces after year 10 eventually down to 0% at year 20. If you make a profit you will still see some of the money depending on your clawback percentage!


Advertisement