Home purchase by local council and negotiation
Discussion
I have a house which I've owned for approx 7 years which the council wish to purchase due the area being redeveloped.
The tenants are also moving out soon - I've received an offer to purchase which (I assume) is an initial low ball offer. It's an ex-council property in the west mids, so not exactly the most desirable in the world - still their offer is approx 20-30% less than I would expect.
It's a leasehold maisonette (3 bed).
The cheapest house in that postcode is approx 60% more than they've offered.
Does anyone have any advice on how to move it forward so I get a decent price and a (Relatively) quick resolution?
The tenants are also moving out soon - I've received an offer to purchase which (I assume) is an initial low ball offer. It's an ex-council property in the west mids, so not exactly the most desirable in the world - still their offer is approx 20-30% less than I would expect.
It's a leasehold maisonette (3 bed).
The cheapest house in that postcode is approx 60% more than they've offered.
Does anyone have any advice on how to move it forward so I get a decent price and a (Relatively) quick resolution?
digger_R said:
I have a house which I've owned for approx 7 years which the council wish to purchase due the area being redeveloped.
The tenants are also moving out soon - I've received an offer to purchase which (I assume) is an initial low ball offer. It's an ex-council property in the west mids, so not exactly the most desirable in the world - still their offer is approx 20-30% less than I would expect.
It's a leasehold maisonette (3 bed).
The cheapest house in that postcode is approx 60% more than they've offered.
Does anyone have any advice on how to move it forward so I get a decent price and a (Relatively) quick resolution?
Yes. Get your own professional valuation (desktop/drive-by will do), and tell them THAT'S what they'll be paying you if they want it.The tenants are also moving out soon - I've received an offer to purchase which (I assume) is an initial low ball offer. It's an ex-council property in the west mids, so not exactly the most desirable in the world - still their offer is approx 20-30% less than I would expect.
It's a leasehold maisonette (3 bed).
The cheapest house in that postcode is approx 60% more than they've offered.
Does anyone have any advice on how to move it forward so I get a decent price and a (Relatively) quick resolution?
Edited by Groat on Tuesday 3rd May 13:16
Groat said:
Yes. Get your own professional valuation (desktop/drive-by will do), and tell them THAT'S what they'll be paying you if they want it.
Do I need to get a surveyor to do it? and then pass that valuation on to the Council? New to all of this so I appreciate any guidanceEdited by Groat on Tuesday 3rd May 13:16
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