Help - One flat in new apartment block 10k more than the other identical ones?

mattcafc

Hi all

I moved in to a newly built flat around 6 months ago, its a shared ownership place (yeah i know!)

Anyway, it costs 165k, but I have found out that 3 of the flats in the same apartment sold for 155k !

I have no idea why this is? The flats are identical, all the same mearsurements etc. Again when we looked round the places we wasnt told they were 155k we were under the impression all of them were the 165k

Anyone know ANY idea why this might be? Again they are shared ownership so its not like the 3 other people put in an offer. Also one of the neighbours said they would of bought my place but it was more expensive so went with his. So there must be a reason surely?

mike5678

They were better at haggling than you? Do you have a better view?

mattcafc

mike5678 wrote: »

They were better at haggling than you? Do you have a better view?

As mentioned in the OP these were shared ownership schemes so there is no haggling.

We all have identical views

Graham1979

Are all the flats on the same floor of the block or are some ground/top floor? Shouldn't really make £10k difference though.

mattcafc

Im ground floor and so is another one that went for 10k less. 2 above me went for 10k less aswell.

mattcafc

Just realised I still havent pointed out the major problem...

As its a shared ownership we all pay rent on the share we dont own. Everyone has a 25% share in my building, however the other people are paying rent on a property valued at 155k whereas we are paying rent on a property valued at 165k so obviously are paying more in rent. Nightmare

Janec2

mattcafc wrote: »

As mentioned in the OP these were shared ownership schemes so there is no haggling.

We all have identical views

Oh yes there is !!! We've just haggled our 50 percent share of S/O new build house. MArket price full value was £179950 and weve had offer accepted for a 50 percent share based on full value of £163000. :T

Doesnt sounjd like haggling was involved with your neighbours though if they already knew yours was more expensive. Its puzzling.

Is there any garden involved or garage , outdoor space ?

Fire_Fox

Why don't you ask the housing association?

mattcafc

Janec2 wrote: »

Oh yes there is !!! We've just haggled our 50 percent share of S/O new build house. MArket price full value was £179950 and weve had offer accepted for a 50 percent share based on full value of £163000. :T

Doesnt sounjd like haggling was involved with your neighbours though if they already knew yours was more expensive. Its puzzling.

As you say, its a little puzzling the fact others knew as was more expensive hence choose the other flats.

mattcafc

Fire_Fox wrote: »

Why don't you ask the housing association?

Genius :beer:

I have emailed them with my concern and am awaiting a reply. Thought I may be able to get some info here as some posters have alot of knowledge

googler

You were the first to buy, and the others were sold cheaper to finish off the sales and move on to the next development....?


There's a small development along the road from me - all 3 bed semis of identical design. When launched, they were selling for £172k - £179k. Some sold, and as the credit crunch hit, the asking prices dropped into the £160k range.

With around half of the 30 or so unsold, the developer sold a dozen or so to a housing association at £134k or so, leaving 2 or 3 to sell himself, now priced at £159,000.

If the first buyers had waited, they could possibly have saved themselves £20k or so.....