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Advice on valuation/renegotiating price
Comments
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If you pay the full asking price for this flat then you risk starting your life as a homeowner with years of negative equity, essentially trapped.
Proceed with extreme caution and do not pay the full asking price!0 -
PresentTense wrote: »In what circumstance would it get redeveloped and how would I lose the flat?
Just to be clear, it's not a tower block with lifts or anything - the flat is on the first floor with the ground floor flats below it and a shared walkway connecting to the second floor which is opposite though not directly above the flat I'm buying (if that makes sense).
The council could just decide to redevelop the site into more modern flats. The council tenants would be rehoused and the owners would be offered compensation but how much compensation is up to the council because once they have decided to redevelop you wouldn't be able to sell the flat so the council could just decide how much compensation they felt like paying.0 -
PresentTense wrote: »Ultimately I can't pay the full asking price whilst there are essentially the same flats in the same estate being sold for £50K less at this very moment. Perhaps I could make that clear to the EA and see what the vendor wants to do about it...
Why don`t you buy one of the other flats?0 -
Crashy_Time wrote: »Why don`t you buy one of the other flats?
If you read the thread you'll see.0 -
Your offer of 12.5K above the survey valuation is completely reasonable.
Leave it on the table and start looking at other properties with the same agent (and others). Since your previous offer, they know you could spend more, but that doesn't mean you should, particularly in light of the new info from the survey.
Don't give in to the vendors greed.0 -
martinsurrey wrote: »If its CLEARLY not worth what you offered, why did you offer it?
VERY good question.0
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