Selling my former Shared Ownership Property?

H

HiFiB

Guest
Hi folks,

Just wondering if anyone has had the same experience? I bought a one bed apartment in Dublin city centre in 2002 under shared ownership. I bought the council out in 2004 so own it 100%.

Recently i moved out into a bigger property with my partner and am considering selling to help us on our way to getting wed and paying down some of the new (bigger) mortgage.

To be honest i'd really like this home to go back to shared ownership. It was very good to me and the scheme helped me get on the ladder and i'd like to think it could afford someone else the same hand up.

Any one know if i can sell it back to the council and, very importantly, how much of the profit must i return to the council (if any)? Is there a standard formula?

Thanks in advance.

B.
 
You'll have to contact the relevant Council and inquire if they are interested in acquiring the property. You have already settled the equity issue and paid off the Mortgage when you re-financed the property so don't owe them anything.
 
Thanks Gillarosa. Guess i'll give 'em a call so.

Regards.
b.
 
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