RTB / District Valuer

beckstas-money

Hello,
Has anyone got any experience hopefully positive stories of receiving a better value from a district valuer?

We’ve received a offer though higher than expected, based on recent sold prices of similar neighbouring properties and Zoopla estimates. We know the catch of appealing with district valuer so trying to weigh up options.
thanks

zakwan

Hi
I have appealed for a RTB valuation as the prices i was offered was higher than expected
Not sure weather i shout carry on or accept the original price as they r might be a catch and the RTB VALUATION IS FINAL AND UNQUESTIONED
Please let me know how you get on

beckstas-money

We decided not to proceed with the RTB on this property. Instead giving up the property for a grant from the council to buy on the open market. It’s a fiddly process but think it will be better for us in the long run

zakwan

How does it work
What do you mean by give up the house for a grant and by how much u may get
Thanks

beckstas-money

The London borough i’m in allows you to give up your tenancy for a grant to buy on the open market. No 5 year catch like RTB. Upto 100k depending on the property you have and affordability checks eg. can you afford a mortgage or will you be knocking on council door again because you’re homeless.

what borough/town are you in?

ts21

Do you know which boroughs offer this, and where you can find out about it? I did some googling and didn't really get anywhere. I'd love to know if my borough (Islington) has this.

MWT

There is some detail on these 'cash incentive schemes' here:

https://huutimoney.com/if-i-give-up-my-council-house-do-i-get-money/

Nnenne1

beckstas-money said:

We decided not to proceed with the RTB on this property. Instead giving up the property for a grant from the council to buy on the open market. It’s a fiddly process but think it will be better for us in the long run

Hi, which borough does that? Was there a waiting list?

beckstas-money

Hi, not so much a waiting list but priority is given to people with 3-4 bedrooms, then it’s first come first serve.

A few of London boroughs offer this... Hackney, Wandsworth, Lewisham etc The only one for certain that doesn’t is Lambeth.