Right to Acquire
What is it?
The Right to Acquire is a scheme, which gives eligible tenants the right to purchase their home at a discount price. The government sets the discount and the discount you receive will depend on where you live.
Who has the Right to Acquire?
To qualify under the Right to Acquire scheme your property must have been built or acquire by Mosscare Housing Limited after 1st April 1997 and you must be the current occupier of the property. As well as being the occupier of the property you must also have been a spent two years as a tenant of a public sector landlord.
How is the price of the property agreed?
When we receive a Right to Acquire application and we have verified that you are eligible under the Right to Acquire, we will obtain an independent open market valuation to find out how much the property is worth. We will then deduct the discount amount of the open market valuation to obtain the offer price. We will then send an offer notice with the offer price.
What happens if you sell your property?
If you sell your property within 3 years of purchasing the property under the Right to Acquire scheme you may have to repay your discount. The repayment amount is based on when you sell the property, if you sell within the first year all the discount is repayable, two thirds are repayable if you sell in the second year and if you sell in the third year one third is repayable.
How can you find out more information about Right to Acquire?
If you think you may be eligible under the Right to Acquire scheme and would like some more information please contact the Sales Team at Mosscare on 0161 226 4211.
Right to Acquire Application Form
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