Overcoming Corporation Consent to sell house

Black Bloc

A while ago, I inherited a small terraced townhouse in a country town from an elderly relative who left it in very bad, I mean very bad, repair. It has been on the market for almost a year but has proved almost impossible to sell because of house was originally bought from the local Corporation in 1962 and any sale is subject to the consent of the Corporation. In practice this means that the house can only be sold to a first time buyer - must not own any property - but the auctioneer, who to be fair has worked hard, has been unable to find anyone eligible who can both buy the house and cover the restoration costs. Anyone with the money to buy and restore is generally middle-aged or more with property of their own. I asked the Corporation to repeal the Consent, but got the usual Soviet Union style response. Does anyone know of a means of removing the Consent so as to open the house up to purchasers who have money?

Seth Brundle

Does consent to sell remain in place even following death & inheritance?

Ray Palmer

It should have changed ownership hands to you at this point thus negating the sales clause. It sounds like you haven't moved the ownsership into your name. Check with your lawyer.

Black Bloc

Ray Palmer wrote: »

It should have changed ownership hands to you at this point thus negating the sales clause. It sounds like you haven't moved the ownsership into your name. Check with your lawyer.

As I understand it the first sale renders null the Consent clause. But since I did not buy the house but inherited it, the Consent clause applies. Effectively, whatever notional market value the house has is not fully available to me but can be fully realized by whomsoever is eligible to buy the house should they resell it. My problem is that no one eligible has so far been able to come up with both the money to buy the house and restore it.

Slydice

I'd say you'd find a first time buyer if the price was low enough

Black Bloc

It is already pitched at the price a family saloon car, and that is before probate and legal fees are extracted.

Bogger77

can you sell it to a family member whose a first time buyer, who can then sell on open market?

Would someone whose built a home, on own site, still be a first time buyer for this scenario?

El Weirdo

Bogger77 wrote: »

can you sell it to a family member whose a first time buyer, who can then sell on open market?

I was going to suggest this but then I thought that if they actually want to buy in the future, they may lose out on any benefits of being a FTB such as not having to pay stamp duty.

Jo King

Black Bloc wrote: »

Does anyone know of a means of removing the Consent so as to open the house up to purchasers who have money?

I have heard of a way of doing it. My brother used it buying an ex council house.
I am not going to type it in publicly.

Victor

Bogger77 wrote: »

Would someone whose built a home, on own site, still be a first time buyer for this scenario?

No.