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Discount property scheme, buy out clause

Piper007 Posts: 3 Newbie

1 November 2021 at 2:50PM in House buying, renting & selling

Hello all,

My mother has recently passed away, the house she owned was 17% owned by the council.
The paperwork we have says that the council will set the valuation and we have give them 1 month to offer the property to local people.
It does say that we can buy out this clause and then we can use our own valuation and put it on the market straight away.

I'm just wondering if anybody has come across this before and if there is any benefit to buying the clause out?
Or if anybody has any further advice?

My mum lived there for about 10 years, so I'm not sure if there's slidding scale to the buy out amount?

I will obviously be in touch with the council just wanted to get some advice before I do that.

Thanks in advance

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Discount property scheme, buy out clause

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