Ex council flat

Cheffy123

Meant to be changed to per monthly. Told them. Changes take up to 24 hours

plehelp

The council were also interested in buying our ex-council property (very close to yours actually, although different borough) They booked an appointment and someone from the council came with a surveyor. They were there for about 20 minutes and we received a formal offer within 2 days.

How much they offer depends largely on what they need to do to it to bring it up to regulations- for example, will they need to replace internal doors to be fire doors, will they need to take up laminate flooring and replace flooring etc. As well as their budget to buy/build more social housing that year and the demand for properties like yours.

They offered us £315k on our property listed at £375k at the time (beginning of this year) we didn't accept and sold later to a private buyer for £365k.

The advantage with the council buying (so we were told) is that once they commit, the sale can be completed in 7 days if necessary or to your preferred timeline. We were also told their solicitor can take care of both sides of the paperwork, so no legal fees (although you'd need to pay for an onward purchase)

Cheffy123

Thanks for this. Wow that's alot below asking price. Hopefully they wont offer as low on mine.
I'm not buying anywhere. I will be moving in with parents and save up abit more.

Does this mean I wont have to pay solicitors etc?
7 days. That's crazy. I've been told suvoyer comes after the housing officer but hopefully suvoyer comes too on same day

[Deleted User]

Very nice flat for private sale but they probably won't be keen on it only having a shower. Basically they'd have to re-tile etc so I wouldn't get your hopes up.

sammyjammy

deannatrois wrote: »

Very nice flat for private sale but they probably won't be keen on it only having a shower. Basically they'd have to re-tile etc so I wouldn't get your hopes up.

I disagree, its a ground floor flat and chances are it would be tenanted to someone with disabilities unable to access other floors, a shower is much more suitable generally to these circumstances.

hazyjo

Ah, I remember this - it's the one where my ex-husband used to have a flat in the road next to it!


My only concern would be - yes they are committed now, but there is no emotional attachment. One negative, and they might decide not to go ahead. I would rather sell to someone who's invested emotionally in the purchase and likely to forgive any faults, defects or 'surprises, but I'd not rule it out. Just keep things moving quickly and, personally, I would keep the EA up to date regularly with whatever you have done/applied for/requested or replied to so they know you're on the ball and being proactive.


Good luck!

burtbot1

Hey Cheffy

I am selling my ex-council flat in East London, and had someone from the council view along with private buyers. The council person who viewed it, said they had to go back and speak to the valuer, and potentially get them to come over again. It was all irrelevant in the end, as we sold to private buyer straight after their viewing.

But, one of the flat in our block did try to sell to the council, and they had list of slightly ludicrous requirements, like they had to make the flat three bedrooms (put up a partition wall) before they could accept it. and they were offering them around £20k under asking, so they didn't bother.

If they make a reasonable offer though, then I think it could be a good idea. It would be a smoother sale in many ways, I reckon. And it's nice to have properties go back into social stock.

Cheffy123

Thanks so much.
I've had an reasonable offer from a buyer from the weekend.
I want to see what council will offer.
Are they less likely to pull out?
What you think of selling to council?

hazyjo

Is it a FTB or investor? Do they have less than 10% deposit? I'd prob accept if not and if they've got more than 5-10% to put down. Wouldn't accept their first offer though - try to get them up a bit, they'll be expecting a bit of negotiation. If they say they're sticking, you've nowt to lose. (Sorry if I'm stating the obvious, but not everyone feels the need to negotiate if they're happy with the offer. I always fear it will make them think they've offered too high.)

Owain_Moneysaver

Your flat looks lovely and I would probably hold out for a private buyer making a higher offer than the council.

Round here the councils usually prefer a kitchen without a built-in cooker as the tenant provides the cooker and the council throw the stinking greasy thing out at each change of tenancy.