Is it worth selling my home to the council?

Danny1995

I live in an EX-council house and looking for a buyer without a chain. It’s in a desirable area, very very close to schools, on a bus route, etc. should I expect to be offered minimal money ? Or will they offer market value? 

user1977

Have they suggested they're interested in buying? If they are, no reason why they shouldn't offer market value.

Loza2016

A few years ago when working for an estate agent we sold 2 ex council properties back to the council. They both sold for about 12k under asking if I remember correctly. 

Both sales dragged on even though both properties were chain free. Both properties were on for about 85k 

Danny1995

user1977 said:

Have they suggested they're interested in buying? If they are, no reason why they shouldn't offer market value.

Yep, have them coming for a valuation in a few weeks. Heard different stories about some getting market value and others getting offered half etc. will just have to see! 

Gavin83

They’re a potential buyer like any other. They’ll offer what they think it’s worth (or what they can afford) and you can either accept or decline. It’s impossible for us to guess what that offer will be. It’s worth getting them over though.

eddddy

Danny1995 said:

Yep, have them coming for a valuation in a few weeks. Heard different stories about some getting market value and others getting offered half etc. will just have to see! 

Presumably you're going to get valuations / market appraisals from local EAs as well, for comparison.  But obviously, the EAs' valuations might be 'optimistic'.

If you get the EAs' valuations done before the council valuer's visit, you can decide whether you want to tell the council valuer what they are.

And/or you can use any offer from the council to challenge the EAs - for example, "The council have offered me £x. I'll give you 3 weeks to get a better offer."

Danny1995 said:

...looking for a buyer without a chain. 

Be careful about assuming that a buyer without a chain is better. As others say, the council might be very slow, and I know a few cases of BTL investors (cash buyers) who have messed sellers around for months - before walking away.

And do you mean you're prepared to sell for less to somebody without a chain. For example, if the EA finds a buyer with a chain offering £10k more than the council, would you still go with the council?