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Market Price Dropped on Apartment

  • 09-07-2008 11:54am
    #1
    City_Guy28
    Closed Accounts Posts: 2 ✭


    Hi All,

    I signed a contract for an off the plans apartment over a year and a half ago and it is nearing completion now (finally). However i have had to renegotiate my mortgage and as a result they will only give me market value of the property which is 40k less than signing price.

    The builders solicitor has said they will drop the price by 15k if i close out as soon as possible.

    Do you think i should go back and see if i can get more off or am i stuck as i have signed a contract?

    Thanks


Comments

  • #2
    astrofool
    Registered Users, Registered Users 2 Posts: 17,164 ✭✭✭✭astrofool


    It doesn't hurt to try and get the price down by more, at worst, you just sign at the price -15k. Better a few k in your pocket than the builders :) (this is all presuming you definitely still want it, and expect to live there long term, apartments will continue to drop in price).


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