You are reading a single comment by @Howard and its replies.
Click here to read the full conversation.
-
rom what I gather the HA had a clause that the property had to be initially offered to the HA at market value for them to sell.
Yes, that's right, and usually they value by asking a surveyor to make a figure up I mean do a desk evaluation.
They did run into problems though in that the lease didn't allow sub-letting
Hah, shit lease. I assume they knew that, when they bought the place. I don't understand why solicitors seem to be bad at telling their clients about the things in the lease they really should think about before pulling the trigger.
Howard
From what I gather the HA had a clause that the property had to be initially offered to the HA at market value for them to sell.
The lad I know put it on the market, got some offers and presented those to the HA as market value which got rid of the haggling about what market value is. The HA decided they didn't want to pay that price so allowed them to carry on selling privately.
They did run into problems though in that the lease didn't allow sub-letting which ruled out purchase for anyone looking for buy-to-let.