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Getting price reductions on shared onwership

2 replies

Southwest · 23/02/2013 14:25

My little sis is potentially interested in a shared ownership property, it is overpriced and been on the market 6 months.

Is there any hope she can get the price down signigicantly ie 10-15 %.

Surely the shared ownership company will need to accept it is not worth as much as they think, yet there is no real incentive for them to do this is there?

they have a major reason to keep prices up and no real need to sell

anyone got any tips, hints or anything useful to add?

thanks

OP posts:
Anifrangapani · 23/02/2013 15:26

If the other party is a registered provider ( housing association) then the house price is set by a surveyor's valuation.

Southwest · 23/02/2013 21:41

Yes HA

that's interesting because its clearly over valued, yet I thought there was a problem with surveyors not valuing proprerties as high as EA and therefore resulting in them falling through and people having trouble getting mortgages for as high as they offered!

SO can the sellers agree to reduce the price or do they just have to refund the HA the money up to their (fantasy) asking price?
do you know?

OP posts:
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