Right to Buy scheme
What happens if you want to sell your house later down the line
You can sell your home whenever you like, but you may have to repay some or all of the discount within the first five years following completion of the sale.
Any discount to be repaid will be based upon the resale value of your home, minus the value improvements you have carried out following your purchase.
If you choose to sell your home within ten years of buying you will need to first offer the property back to South Tyneside Council who may choose to buy it from you at the full market value.
If, before the purchase or within the discount repayment period, you enter into an agreement to transfer your property to a third party in the future then this will start repayment of your discount from the point you enter into this agreement.