A tenant's guide - The Right to Buy
Right of first refusal
If you purchase your home under the Right to Buy scheme on or after 18 January 2005, and you wish to resell or dispose of it within 10 years, you will be required to offer it to the council at full market value. The market value must be agreed between the parties or, if they are unable to agree, will be determined by the District Valuer (the Department for Communities and Local Government pays the costs of employing a District Valuer). If your offer has not been accepted by the council within 8 weeks, you will be free to sell the property on the open market.