Outstanding payments
- We will tell the buyer’s solicitor about any payments that you still owe.
- Any arrears on the service charge account must be cleared before completion of the sale.
- Your solicitor should ask the buyer’s solicitor to make sure any service charges you have already paid are refunded to you after the property has been sold.
Discount
If you sell your flat within five years of buying it from Solihull Council under the right to buy scheme, you will have to repay some or all of the discount that you received.
- During the fifth year you must repay one fifth of the discount
- During the fourth year you must repay two fifths
- During the third year you must repay three fifths
- During the second year you must repay four fifths
- During the first year you must repay the whole discount
The repayment will be calculated as a percentage of the market value of the property when it is resold within the first five years of purchase.
There are some circumstances when the discount does not have to be repaid, for example if the sale is to your husband, wife or another member of your family who has lived with you for at least 12 months. In such cases, you are strongly advised to seek independent legal advice.
Solihull Council does not usually buy back flats sold under the right to buy scheme. However, if you have purchased your home under the right to buy scheme on or after 18 January 2005, and you wish to sell it within 10 years, you will have to offer it to Solihull Council or to another registered social landlord in the area at full market value. If your offer has not been accepted within eight weeks, you will be free to sell the property on the open market.
