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Help buying a council property
F.T.B_2
Posts: 69 Forumite
My partner currently lives in a council flat and has done for the past 4 years. We have spent a fortune on the property with decoration etc and now the time has come for us to move into a larger home of our own.
The problem is that we can make a massive saving on the property if we buy it off the council and we want to buy it and keep it for 3 years and then sell it on to make a bit of profit. I would like some advice if anybody has been here before.
We would buy it as soon as possible and live here whilst we looked for a suitable home for ourselves. Once we have found our home we would move out and hopefully rent the flat out, this would pay the mortgage on the flat and hopefully give us a little profit. Im not sure whether this would be allowed and dont want to ask the council incase this means they wont sell to us?
Also to give us a bit of an idea how much the flat will cost us i wanted to get it valued by an Estate Agent. Are we able to do this? Do they just come out and give a no strings attached valuation? Does it cost an awful lot? Thanks
The problem is that we can make a massive saving on the property if we buy it off the council and we want to buy it and keep it for 3 years and then sell it on to make a bit of profit. I would like some advice if anybody has been here before.
We would buy it as soon as possible and live here whilst we looked for a suitable home for ourselves. Once we have found our home we would move out and hopefully rent the flat out, this would pay the mortgage on the flat and hopefully give us a little profit. Im not sure whether this would be allowed and dont want to ask the council incase this means they wont sell to us?
Also to give us a bit of an idea how much the flat will cost us i wanted to get it valued by an Estate Agent. Are we able to do this? Do they just come out and give a no strings attached valuation? Does it cost an awful lot? Thanks
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