Any advice on Council buy back scheme (not right to buy)

jonb75

Hi All,

New member and 1st post. We own our ex-council 2 bedroom flat and are looking to sell. Received marketing from Sutton Council's Housing Arm (London Borough of Sutton). Marketing letter says they are wanting to buy back council flats at full market value.

We bought from private seller 15 years ago so have no obligation to offer to council first. They say 'no chain' 'full market value' and 'no agency fees'.

Does anyone have any experience with the local authority offering to buy their property off them? Any advice from anyone who has had successful buy backs from the council.

Really appreciate any views on this.

AdrianC

Get a valuation from an EA or three.
Get an offer from the LA.

If the EA's offer looks tempting, relatively to the valuations, and bearing the ease of sale in mind, then snap their hand off.

Slithery

If the price is right then go for it, they'll be much easier to deal with than most FTB's.

jonb75

Thanks both of you. Will be interesting to see what LA classes as 'full market value' but if they are close to EA valuation then I think ease of being able to say we have no chain puts us with a big advantage.

Really appreciate your feedback. :T

[Deleted User]

Not quite the same situation as yours but might offer some information even so

https://forums.moneysavingexpert.com/discussion/5989489/buy-back-scheme

I'd suggest googling "buy back council property" and seeing if any useful information comes up.., but also contact the council to see what they do. You wouldn't be committing yourself at this stage, just getting information.

jonb75

Thanks for the advice - really appreciate it.

eddddy

So it sounds like you'd be wanting to buy somewhere else to live.

So you'd be asking the council to be at the bottom of a chain.

I guess you'd need to check the council's 't&cs' to make sure they'll work with that.

For example, how long would their offer be valid? If it's only valid for, say, 3 months - what if your chain isn't ready to go in that time.

If so, might the council walk away and collapse the chain after 3 months? Might they insist on a revaluation after 3 months (which might be lower)? etc.

Weesue13

Hi my mum has owned her council flat for 20 years but its is now unsuitable due to her mental and physical health . Will the council buy it back and re home her , she lives in Edinburgh Scotland

AdrianC

Buy it back? Possibly.
Re-home her? Unlikely.

Why can't she just sell it and buy somewhere more suitable?

Comms69

AdrianC said:

Buy it back? Possibly.
Re-home her? Unlikely.

Why can't she just sell it and buy somewhere more suitable?

It might be that a care home is needed - which the council may organise, but obviously paid for by the sale.

davidmcn

Weesue13 said:

Hi my mum has owned her council flat for 20 years but its is now unsuitable due to her mental and physical health . Will the council buy it back and re home her , she lives in Edinburgh Scotland

They ought to provide some assistance with finding new housing if she can't afford any private alternatives, but I doubt the council will buy from her.

The only Scottish buyback scheme I've heard of in recent years (and I don't know whether it's still going) is to rescue those at risk of mortgage repossession - and that would mean "rehousing" the owner in the same house but as a council tenant, so wouldn't help.