Has anyone ever sold to the local council?

[mynameisntlouise]

I'm currently trying to sell my house, only been up a week, the city council have requested to come view it, I was just wondering if anyone else has sold to or had interest from the council? I'm not sure what to expect, whether they'd make a worth-while offer if they were interested?

It's on a new build estate and they own so many of them already, my house is in clean and sound condition so I'm hoping they'd be interested.

I did.
I owned a flat which was ex-local authority. It had been bought by a council tenant under the right to buy and then 3 years to the day put on the market and sold to me.

When I came to sell 4 years later the EA told me they had an 'organisation' which was buying up properties similar to mine. It was the Housing Assiciation which had taken over the running of council housing in the area.

It was great for me. I was able to put it on a top whack for that kind of property and received an immediate offer if just £3k below. The EA told me that was likely and they just make one offer and don't negotiate. I happily accepted.

All good because they were cash buyers without a chain. It allowed me to be in a strong position offering on my next house. As they are already the Freeholder's and owned other flatsbinnthe building, there were no survey issues etc. It all went through smoothly.

I always thought it was a bit awful that the council sold my flat to someone for about £35kas they had been a long term tenant. 3 years later they sold it to me for £80k (late 1990s when prices were rising v fast) and Insold it back to them 4 years later for £145k. Seemed the tax payer who funded them buying it back wasn't getting a great deal really!

But if you can get them to buy it, it is a safe and simple transaction - go for it.

@WombatChocolate thanks for replying! That sounds positive then, I was wondering if it's worth having the viewing if they're likely to make a really low offer. It's not like it's been sat on the market for ages so fingers crossed they'll not be wasting my time...

I know what you mean about it seeming like a poor deal for them, I'm wondering where my council is finding the money to buy up houses but if they're not able to get hold of land to build and increasing demand, I guess they have to do something.

I work for a HA and we do all sorts of complicated calculations before offering on a property. Offering low to get a bargain isn't one of them, but we do send a Surveryor around to cost up the works needed to bring it to scratch so those costs are deducted off the calculation.

I'm wondering where my council is finding the money to buy up houses

They will likely have to use the money they make from RTB sales.

My aunt did, they offered her the same amount that it was on the market for and she accepted

Years ago councils were not permitted to keep the money from right to buy sales. They were not allowed to build homes either - hence the housing shortage. Housing Associations build social housing now.

However I’m not sure if the rules are now relaxed. Can councils now spend money as they please to meet local need? Also buying up homes can be a good idea where land is in short supply.

I would certainly see them. If your agent has priced accurately, then you should get a fair price. I wouldn’t dismiss any potential buyer.

In terms of value for money, your local council buying houses they can use, especially for temporary accommodation, is much cheaper than them having to pay for nights in b&bs etc for homeless families.

A neighbour sold their place to the Council and it was all very smooth apparently.