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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10585
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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I am considering buying a house, which was originally part

Resolved Question:

I am considering buying a house, which was originally part owned by a housing association, however, the current occupiers are 100% owners. I believe that there no management fees applicable and I understand that there is no restrictions on letting of the property. The area seems to be good, with low crime rates and good local schools. It appears that the only condition imposed by the association is that they should have first refusal, should I decide to sell on the property.
Are there other things that I should be concerned about, when purchasing a property which was originally part owned by a housing association?
Submitted: 2 years ago.
Category: Law
Expert:  Aston Lawyer replied 2 years ago.

Hello and thanks for using Just Answer.

My name is ***** ***** am happy to assist you with your enquiry.

You have no other real things to worry about, because you are purchasing the 100% share and hence there will be no fees to pay to the Housing Association and they will have no "hold over you" other than offering the property to them at market value as and when you sell

So,other than the following couple of small points, it will be just like purchasing any other property-

1. You will appreciate that some of the neighbouring properties may still be on a shared ownership basis/social housing.

2. Although your Solicitor will advise you, you will need to check if there is any contribution you would have to make to any communal areas on the development.

I hope this assists and answers your question.

Kind Regards

AL

Aston Lawyer and other Law Specialists are ready to help you
Customer: replied 2 years ago.

Many thanks for your very prompt answer, it has set my mind at rest for the time being. If I have any further questions, concerning this issue, I will advise.

Expert:  Aston Lawyer replied 2 years ago.

Hi Michael,

Thanks. Please feel free to come back to me in the future and ask a further question if need be.

In the meantime, if you are happy with my Answer to this question, I would be grateful if you could leave positive feedback.

Kind Regards

AL