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Selling property back to the council
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tdsmithj
Posts: 65 Forumite
Hi,
I have an apartment which is under the afforable housing scheme. Meaning people who want to buy this property can buy it at 80 percent of the market value.
I am now selling my apartment but after 5 months I have had no luck. Under the lease I can sell it to people who are after affordable housing. My problem is where do I go about doing this? I have contacted numerous people such as Orbit but no luck.
I heard theres a problem with of not being enough affordable housing but there are property out there such as mine that are open to new buyers instead of buying a new build property from house builders at an overpriced cost.
Could anyone offer any advice, maybe selling my property back to the council or even to people looking for an affordable housing property?
My property is not shared ownership.
Thanks...
I have an apartment which is under the afforable housing scheme. Meaning people who want to buy this property can buy it at 80 percent of the market value.
I am now selling my apartment but after 5 months I have had no luck. Under the lease I can sell it to people who are after affordable housing. My problem is where do I go about doing this? I have contacted numerous people such as Orbit but no luck.
I heard theres a problem with of not being enough affordable housing but there are property out there such as mine that are open to new buyers instead of buying a new build property from house builders at an overpriced cost.
Could anyone offer any advice, maybe selling my property back to the council or even to people looking for an affordable housing property?
My property is not shared ownership.
Thanks...
0
Comments
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Which affordable housing scheme did you buy it from?poppy100
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Are you looking for profit.?It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
Which affordable housing scheme did you buy it from?
the scheme is just called affordable housing. Its not homebuy or any of the ones I have searched for. You don't pay rent and does not have the same rules as shared ownership. Only buy at 80 sell at 80. I think its a scheme which does not run anymore. In the deeds it says I need to contact Birmingham city council but they are just as clueless as me.0 -
you may have just scored a free 20%*
When did you enter the scheme?
I moved into my property back in March 2009. So I applied for it back in February that year. The lease says I have to contact but does not state which department, who to contact or anything. All I know that it as to go to someone on the affording housing register. I managed to get hold of someone from an unknown department and he was supprised because no one has ever come to him to sell their home. Even he had to do his research.0
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