the bloke over the road bought a simalar property 2bedroom semi for £45000 2years ago under the same scheme.i just think they are trying to swindle me.they told me that i could bring in my own surveyor-and if the estimate is lower,then that would be the new asking price,but if estimated higher then that would be the new asking price..ive been a tennant for 4years here,but would like to purchase it.but think this is such an unreasonable price.
2007-08-07 02:32:23 · 12 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
You're being greedy!
My mother-in-law can not afford to buy the council house she lives in. It a tiny roomed 2-bed endof terrace with room for a large extension which could effectively double the size of the house and she would still have a large garden.
When her husband was still alive he refused to buy. The price has gone up over time and now he is no longer around. When he died they wanted £83000. She couldn't afford it then. Now they want £125000 for it. She has lived there for 41 flipping years!! Yes, FORTY-ONE. And you're whinging cause they want £95.000 off you? Compare it and it sounds a very reasonable price.
Consider yourself lucky you got a secure Assured Tennancy instead. I can't get a council place to live in unless i am on means-tested benefits for starters.
2007-08-07 02:55:52 · answer #1 · answered by Part Time Cynic 7 · 1⤊ 0⤋
You don't say where this property is - the link is to a "buy-to invest" site and gives some good clues on current values. Nothing in English cities under £95k and some SCottish at £80k. You say the neighbour bought two years ago at 50% but in some areas prices have soared. London is very higher but only Northern Ireland had rates at high as you suggest.
Use the secoind link to check property prices in your area - it is very accurate but of course different houses sell for different prices for different reasons - value is what a seller is prepared to buy for!
2007-08-07 02:51:35 · answer #2 · answered by morwood_leyland 5 · 0⤊ 0⤋
Depends on what type of survey the council assessed the property on.because there are several types of value sought by a real estate appraisal.approaches to value your house could include cost approach IE estimation by summing the land value and the depreciated value of any improvements.another approach would be a sales comparison approach it looks at the price at similar properties in the area etc .i do think house prices are becoming a little ambitious,i do think we might be heading for a recession.but goodluck anyway
2007-08-07 08:45:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
the bloke across the road probably had a larger discount than you you have only been a council tenant four years after all.
if he had had the full discount allowed £24800 and you add it to the price he paid it comes to £698000 not much difference.
however if he bought at top discount just before the £24800 was imposed the value then would have been £90000 so assume I am correct the valuation is not far away from the same taking into account inflation.
2007-08-07 03:12:12 · answer #4 · answered by Anonymous · 0⤊ 0⤋
councils are fairly well open about how they work out valuations.
its quite possible that the price has doubled in 2 years.
Thier statement on surveyors seems really fair, we can't have it both ways. If you really are convinced its worth less then you will not need to hesitate, get the surveyor in.
I agree with Saffron. The council sell-off has distorted all the first-time buyer market because its taken all the good housing stock out of the tennent market.
2007-08-07 03:27:44 · answer #5 · answered by Michael H 7 · 2⤊ 0⤋
How can you possibly say anyone is trying to swindle you?You get subsidised rent, and you're still being offered a subsidised sale price.
If I wanted to buy a place similar to the one I now rent in London, I have to come up with the full market value- meanwhile my full private market rent payments are not helping me get there. It seems quite clear that those of us on the private market are the ones being swindled.
2007-08-07 05:24:54 · answer #6 · answered by - 5 · 0⤊ 0⤋
It all depends. Do some research on nethouseprices.com / rightmove.co.uk etc. Enter your postcode and see the prices for which the houses have sold. then work out how much yours might cost etc. also you havent mentioned your area. You can check up the HPI or halifax index for your area. Eg : assuming it has gone up by 10% over each year, it might be worth around 55K now.
2007-08-07 02:49:33 · answer #7 · answered by SM 2 · 0⤊ 0⤋
The price seems reasonable, why do council house tennants think they should get property for free? I disagree with right to buy.
2007-08-07 02:37:24 · answer #8 · answered by Anonymous · 4⤊ 0⤋
Get it appraised privately. If it's lower, hand it over to the Council. If it's higher, keep it under your hat. Easy Peasy!
2007-08-07 03:03:13 · answer #9 · answered by Bostonian In MO 7 · 1⤊ 0⤋
It seems fair - you've only been a tenant for 4 years, if this was longer than you'd probably get more discount
2007-08-07 02:39:53 · answer #10 · answered by julie g 3 · 1⤊ 0⤋