Homeowners selling within 10 years are expected to pay a clawback fee to the co-op related to the discount on the purchase price.
The three-bedroom house now on the market would be the first to be sold on privately since the estate was built. In the case of this house, it is understood the clawback would be in the region of €44,000, which Ó Cualann would use to repayThe council sold the land to the co-op for €1,000 per house plot. On the open market the same plots would have cost up to €30,000. The council also waived the development levies of €86.40 per square metre.
“It is one of the drawbacks of the scheme. Our preferred method would have been for houses to be sold directly back to the co-op, then we could sell them on to other eligible affordable housing purchasers.”The seller of the house was not available for comment.
DCCouncil should buy
This property has now hit is guide price after its first viewing this evening and a deadline for offers of 25th August is now in place - monitor the bidding here:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: IrishTimes - 🏆 3. / 98 Read more »