Hi Brendan,
I am hoping to put my affordable house on the market next year. I understand that I am not to make a profit on the property, but I have invested about 20k in the house, I suppose I never thought I would be selling it and have redone 3 bathrooms (tiles were lifting off floor), changed all internal doors, topped up attic insulation (missing from part of attic) installed a stove, by-passed a sitting room (had to walk through the sitting room to get to kitchen)and landscaped the back & front garden over the last 9 years since I bought it. I suppose I don't want the council profiting out of what I have invested in it which has brought the value up beyond what it would be had I not done all the work?
There is a part in the deed of transfer stating that "in calculating the amount payable, due allowance shall be made for any material improvements made by the purchaser, and any such allowance shall be deducted from the proceeds of sale before the amount so,payable is calculated"
In this paragraph "material improvements" means improvements made to the house (whether for the purpose of extending, enlarging, repairing or converting the house) but does not include decoration or improvements carried out on the land including the construction of a house.
Do you think I am entitled to stake a claim against the clawback for these works carried out?
Your advice or anyone's in a similar position would be greatly appreciated