Shared Ownership - Making an Offer

Mac_Sami

May seem a silly question, but for shared ownership properties, is it possible to make an offer on the 50% share that you're looking to purchase? i.e. it has a market value of £80k for the 50% share, but I want to offer slightly less.

If this is possible, what are the chances of the offer being accepted? I notice that they seem keen to point out that all values are at market value etc etc, so am unsure of whether I'd have any success in making an offer.

Thanks.

Swift1_3

If you are buying the share 2nd hand then definately make an offer (I did). If its brand new I believe they stick out for the full market value and usually have no problem getting it(no harm in asking tho).

Mac_Sami

Swift1 wrote: »

If you are buying the share 2nd hand then definately make an offer (I did). If its brand new I believe they stick out for the full market value and usually have no problem getting it(no harm in asking tho).

Thanks - the share would be for a new property, and whilst the value is at market value i.e. it's 50% of the whole property value, which is "in line" with other property prices in the same development and area, I just feel that it's still slightly overvalued. Of course, I fear they will try to stick out for the full market value, or offer a smaller share as an alternative.

Guess I'll just have to ask and see what the reaction is!