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Afforable Housing Clawback

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  • 13-01-2015 11:25am
    #1
    kitten_k
    Registered Users Posts: 6,046 ✭✭✭


    Hi does anybody know how this is calculated?


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    #2
    manonboard
    Registered Users Posts: 1,102 ✭✭✭manonboard


    kitten_k wrote: »
    Hi does anybody know how this is calculated?

    Hi kitty. I do. I own a ah too.

    Suppose you paid 100k for it. Its market value was 150k but you got your discount.
    If you sell during the first 10 years. You owe them anything you get over 100k.
    if you sell in year 11. You owe the 90% of anything over 100k.
    80% in year 12 etc.

    If you sell below what you paid.. you owe the nothing n the claw back is cancelled.

    my multi unit was AH and all the residents got the same info back.

    Hope that helps


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    #3
    kitten_k
    Registered Users Posts: 6,046 ✭✭✭kitten_k


    I spoke to them this morning, the way it works is (using your figures above):

    If you sell for under €100k - no clawback

    If you sell for between €100k and €150k they get whatever you get over the €100k eg if you sell for €125k they get the €25k.

    If you sell for over €150k they get the the difference between the €100k and €150k and then 15% of the remainder eg if you sell for €160k then they get the €50k (€150k-€100K) and then 15% of the remaining €10k (€1,500) so they get a total of €51,500.

    He never metioned anything about it reducing but that was probably because I was asking about if I sold now.


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    #4
    Clio2009
    Registered Users Posts: 23 ✭Clio2009


    kitten_k wrote: »
    I spoke to them this morning, the way it works is (using your figures above):

    If you sell for under 100k - no clawback

    If you sell for between 100k and 150k they get whatever you get over the 100k eg if you sell for 125k they get the 25k.

    If you sell for over 150k they get the the difference between the 100k and 150k and then 15% of the remainder eg if you sell for 160k then they get the 50k ( 150k- 100K) and then 15% of the remaining 10k ( 1,500) so they get a total of 51,500.

    He never metioned anything about it reducing but that was probably because I was asking about if I sold now.
    wrong
    now they send a valuer to asses the value of the property
    so if you sale at 99 000 and the value say your flat now is at 110 000 you owe them 99 000 - 110 000

    just discovered that now with sale of my flat and not impressed
    and you pay 100 euro for the valuer they send one of their choice


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    #5
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Clio2009 wrote: »
    wrong
    now they send a valuer to asses the value of the property
    so if you sale at 99 000 and the value say your flat now is at 110 000 you owe them 99 000 - 110 000

    just discovered that now with sale of my flat and not impressed
    and you pay 100 euro for the valuer they send one of their choice

    That sounds logical, it would be in place to discourage you from selling below the current market value.


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    #6
    Clio2009
    Registered Users Posts: 23 ✭Clio2009


    Graham wrote: »
    Clio2009 wrote: »
    wrong
    now they send a valuer to asses the value of the property
    so if you sale at 99 000 and the value say your flat now is at 110 000 you owe them 99 000 - 110 000

    just discovered that now with sale of my flat and not impressed
    and you pay 100 euro for the valuer they send one of their choice

    That sounds logical, it would be in place to discourage you from selling below the current market value.
    it is logical yes but then it also then sale with profit then if their value is higher than what you paid for
    so do you need to then also pay the 33 percent when you make profit on the sale to the state ???


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    #7
    Clio2009
    Registered Users Posts: 23 ✭Clio2009


    Clio2009 wrote: »
    Graham wrote: »
    Clio2009 wrote: »
    wrong
    now they send a valuer to asses the value of the property
    so if you sale at 99 000 and the value say your flat now is at 110 000 you owe them 99 000 - 110 000

    just discovered that now with sale of my flat and not impressed
    and you pay 100 euro for the valuer they send one of their choice

    That sounds logical, it would be in place to discourage you from selling below the current market value.
    it is logical yes but then it also then sale with profit then if their value is higher than what you paid for
    so do you need to then also pay the 33 percent when you make profit on the sale to the state ???
    that actually means you are better off selling higher so money from sale is going to them and not your money.


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    #8
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Clio2009 wrote: »
    that actually means you are better off selling higher

    correct.


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    #9
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    Mod note

    Clio2009 please stop bumping old threads for no apparent reason. Thanks


This discussion has been closed.
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