Thank you for completing this form. The Estate Regeneration Team will be in touch with your shortly. For your information, the stages that we will follow are summarised as follows:
- Expression of interest form completed
- The council agrees to purchase the property
- A valuation is carried out to the property by a surveyor
- Valuation agreed with homeowner – via homeowner’s surveyor if required
- The council makes a formal offer to the homeowner
- Homeowner confirms acceptance of offer in writing
- The council carries out relevant checks to the lease/due diligence
- The council appoints a lawyer to carry out the legal aspects of the purchase
- The homeowner appoints their legal representative to work with the council’s legal representative and both sides develop the contractual conditions.
- Lambeth’s Home Ownership Services determine any outstanding amount (capital works/service charges etc. on the account which forms part of the contract)
- Both parties exchange agreed contracts, including vacant possession date
Both parties agree a completion date for transfer of funds and vacant possession. This process can take from 3 to 6 months to complete, however we can not guarantee any timeframe; it will largely depend on your own circumstances. In addition we would not expect to complete any purchase before the end of December 2015.