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  • FIRST POST
    • bri70123
    • By bri70123 6th Jan 18, 4:38 PM
    • 8Posts
    • 9Thanks
    bri70123
    Selling Right to buy home
    • #1
    • 6th Jan 18, 4:38 PM
    Selling Right to buy home 6th Jan 18 at 4:38 PM
    hi

    4 years and 10 months ago we bought our RTB house, and want to sell it as soon as the 5 years is up (to avoid paying back any of the discount). But, at what point do we contact the council to offer it back to them (if selling within 10 years we have to give them first refusal) as they can take up to 8 weeks to respond...

    So do we do it now or in 2 months?

    Thanks
Page 3
    • Samsung_Note2
    • By Samsung_Note2 9th Jan 18, 3:53 PM
    • 443 Posts
    • 177 Thanks
    Samsung_Note2
    I would have, council housing is the most secure way to live. I don't earn enough that I would have sacrificed that security for short term profit.

    That's another issue with RTB, it encourages people to make bad decisions because they see £££s and don't consider the value of what they already have.
    Originally posted by Red-Squirrel

    What utter clap trap...spending twice what you need to each month is just stupid...maybe you cant afford to buy.


    Those of us who can, we do and mostly make a nice profit.
    If my appalling spelling offends you that much...dont read my posts.
    • Samsung_Note2
    • By Samsung_Note2 9th Jan 18, 3:54 PM
    • 443 Posts
    • 177 Thanks
    Samsung_Note2
    You lie my friend.
    Originally posted by Red-Squirrel

    Call me a liar. And you know this is not true how.?
    If my appalling spelling offends you that much...dont read my posts.
    • chelseablue
    • By chelseablue 10th Jan 18, 11:17 AM
    • 2,419 Posts
    • 2,889 Thanks
    chelseablue
    Where I live there's hardly any difference in price between ex LA houses and non LA houses:

    Ex council: http://www.rightmove.co.uk/property-for-sale/property-51683967.html

    Non council: http://www.rightmove.co.uk/property-for-sale/property-51632628.html
    Mortgage starting balance £231,000
    Mortgage after Year 1 £225,000
    Mortgage after Year 2 £218,000
    • Mrs CP
    • By Mrs CP 10th Jan 18, 11:55 AM
    • 31 Posts
    • 91 Thanks
    Mrs CP
    I lived in my council house for 26 years, the last 5 as the owner after having bought it through Right to Buy. I advised the Council leading up to the 5 year anniversary that it was my intention to sell the property, and they duly advised me that they had no intention to buy it.


    My house sold at the same, or even higher, value as similar houses in our area, and I went on to buy a 3 bed detached in my home village.


    Having come from being a homeless single mother at 19, putting myself through college and university and paying full rent for years and years which, like another poster said, was much more than the actual mortgage, I make no apologies whatsoever for taking advantage of the opportunities available to me. I am now a professional, as is my child, putting far more back into the pot than we have taken.
    • PersianCatLady
    • By PersianCatLady 11th Jan 18, 6:10 AM
    • 456 Posts
    • 412 Thanks
    PersianCatLady
    It depends on the area. The first one below is not an ex council house the second one is.

    http://www.rightmove.co.uk/property-for-sale/property-60179608.html

    http://www.rightmove.co.uk/property-for-sale/property-63185428.html This is

    This is the kind of thing I mean.

    And this ex council house http://www.rightmove.co.uk/property-for-sale/property-67725209.html
    and this non ex council house http://www.rightmove.co.uk/property-for-sale/property-63120418.html

    You can see the difference in price.
    Originally posted by Cakeguts
    I must be stupid but i can't see much of a difference in the prices.
    Last edited by PersianCatLady; 11-01-2018 at 6:12 AM.
    • tori.k
    • By tori.k 11th Jan 18, 7:44 AM
    • 3,186 Posts
    • 8,086 Thanks
    tori.k
    Like anything it's down to overall location rather than individual property that set the price, a council house in St Ives made 1.4 million in an area the average 355k.
    The moorland and some of the coastal village's that nobody really wanted to live in the 60s due to the lack of amenities have jumped in price and if anything the ex council command a better price due to the land attached than the newer builds that sprung up in the area.
    The larger towns keep to the more traditional stigma attached to local authorities housing I privately brought an ex local authorities house around 80% of the housing is owned in the area, the brick built area itself has weathered well compared to the newer build estate built opposite thats render has discoloured but there is a 20k price difference between the two estates due to snob factor
    Debit to Credit (stage 1) 3652.34 completed 15/10/16
    Debit to Credit (stage 2) 6299.09 completed 25/06/17
    Mortgage Free (stage 3) 140000/ 1500
    Save 12k in 2018 #76 3000/6000
    • bri70123
    • By bri70123 16th Jan 18, 10:30 PM
    • 8 Posts
    • 9 Thanks
    bri70123
    I lived in my council house for 26 years, the last 5 as the owner after having bought it through Right to Buy. I advised the Council leading up to the 5 year anniversary that it was my intention to sell the property, and they duly advised me that they had no intention to buy it.


    My house sold at the same, or even higher, value as similar houses in our area, and I went on to buy a 3 bed detached in my home village.


    Having come from being a homeless single mother at 19, putting myself through college and university and paying full rent for years and years which, like another poster said, was much more than the actual mortgage, I make no apologies whatsoever for taking advantage of the opportunities available to me. I am now a professional, as is my child, putting far more back into the pot than we have taken.
    Originally posted by Mrs CP
    good on you... nor should you make any apologies, family first... anyway I read your message and I phoned them straight away and they said they are not buying any RTB houses back at all at this time so i've sent the notice in. Should get a rejection letter through soon....
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