Ex council flat

Cheffy123

Hi everyone,

I have recently put my 2 bed flat on market. It's an ex council flat in east London.
My agent rang me to tell me I have a viewing next week and the person is someone from the council. Apparently councils are buying ex council properties back

Is it worth selling to them?
Do they pay close to asking price?
Any other information you have, please let me kno@

Thanks :j

boo_star

If houses are selling for £x in your area and the council are offering less, consider turning them down.

If they're offering £x, consider accepting.

If they're offering more than £x, bite their hand off if the market isn't on fire.

Without sounding rude, it doesn't matter who the buyer is really, does it? It's what they're offering.

HampshireH

In my experience they will have an amount of funding to do this. They would only be considering properties which fit that budget & usually have a number to buy within the financial year.

Example I have historically worked on a similar project and no seller got shafted. Probably some of the most reassuring sales from a sellers perspective because its almost a done deal as long as no major irregularities crop up.

In my experience if your price is fair (I.e. not overvalued) then that will be appreciated. That's not to say they will offer full price but more that they won't offer silly money. Its not in their interest to as they don't have time to waste on silly offers and delays.

[Deleted User]

Hi,


also, you wont get stuck in a chain or somebody struggling to get a mortgage.

shinytop

I sold my BTL to the local council last year. They paid, IMO, a fair price and stuck to it, and it all went very smoothly. They did offer slightly below asking price, but since I had no other offers I was happy enough.

Cheffy123

Thanks everyone. I mean if they have seen it on rightmove and booked s viewing. That's already a good sign, right? Hopefully they wont offer too much below asking price. It's on for 240k so 235k will be good.

diggingdude

Does the council still own the freehold? Makes it even easier if so

Owain_Moneysaver

The viewing may be done by a housing officer but might be done by a surveyor. They won't worry much about cosmetic decor as council tenants are expected to decorate, but they will be looking at how much work they have to do to get the property to a lettable standard. The big things will be kitchen, bathroom, rewiring and heating.

Cheffy123

Yes they do. The council is my freeholder. I pay my service charge and ground rent to them

Cheffy123

The viewing is done by housing officer and then a suvoyer says my estate agent. Estate agent says once they get a suvoyer round to value it, it's more likely they are committed to put offer in as no point bringing them round if they wont put offer in. I just hope they wont offer alot below asking price and it will be a smooth process (not like other buyers which are likely to pull out)
Here's my flat BTW
http://www.rightmove.co.uk/s6p/74004943

GDB2222

Cheffy123 wrote: »

The viewing is done by housing officer and then a suvoyer says my estate agent. Estate agent says once they get a suvoyer round to value it, it's more likely they are committed to put offer in as no point bringing them round if they wont put offer in. I just hope they wont offer alot below asking price and it will be a smooth process (not like other buyers which are likely to pull out)
Here's my flat BTW
http://www.rightmove.co.uk/s6p/74004943

SERVICE CHARGE: £64.00 PA (To be confirmed)

That sounds extraordinarily reasonable.