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Buying council house
adelburn
Posts: 34 Forumite
Hi all,
Regarding the "right to buy" your council house, I have read up about it and one sentence is bugging me.
This is taken from the birmingham gov website.
"if you sell your home within the first 10 years you must give the council the right of first refusal."
Does anyone know if I chose to sell before 10 years, would I have to sell to the council at the discounted rate I bought it for?
Regarding the "right to buy" your council house, I have read up about it and one sentence is bugging me.
This is taken from the birmingham gov website.
"if you sell your home within the first 10 years you must give the council the right of first refusal."
Does anyone know if I chose to sell before 10 years, would I have to sell to the council at the discounted rate I bought it for?
0
Comments
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I think you would have to offer it to them first. Whether they wanted to buy it or not is another matter.
I thinkif they did buy it, they would have to pay you market value for it (which may have gone down as well as up).
Whether they would deduct your discount I don't know, sorry.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
There is usually a clause in the deeds regarding how long you need to keep the house beore any discount would be re-payable.
If this time had passed then you woul be entitled to sell it for market value.It's not paranoia if they really are after you.0 -
If its in the first 5 years you would have to pay back some or all of your discount depending on how many years had elapsed. Between 5 and 10 years you have to give the council first refusal BUT if for some reason they did want to buy it back they would have to pay you full market value and you could keep your discount and any increase in house prices (if any!)0
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