Deciding to move is the first step toward selling your shared ownership property but the rules and regulations are complex and seem to change all the time! With over a decade of experience working for individuals, housing associations and local authorities, we can guide you through the process from start to finish.
Each Housing Association (HA) will have slightly different rules but in general, you should be able to sell your property at any time.
The value of your property will be determined by a Chartered Surveyor.
The HA will have an initial exclusivity period (usually two months), in which to ‘nominate’ a buyer for your share of the property at the valuation price.
In most cases you’ll need to produce the sales particulars yourself (photos, floor plans, dimensions, description, etc.) as well as deal with the enquiries and from interested applicants and even conduct the viewings.
You may also need to pay a sales fee (usually referred to a nomination or administration fee) to the Housing Association, typically between 1% and 1.5%. (Find out about our unique Shared Ownership Resales Services to help sell your property faster and easier).
In the event that they are unable to find a buyer within their exclusivity period, the property can be sold on the open market; again the value is determined by a RICS Surveyor. In this circumstance you can use an estate agent to sell your share or offer the whole property at (or above) the full market value.
Urban Moves provide a bespoke Shared Ownership Resales Service for current shared ownership leaseholders that has been consistently improved time and time again over many years to offer the best possible levels of experience for buyers and sellers and achieve the highest success rates.
We are a traditional, independent high street agent with considerable experience of shared ownership sales and resales within Greater London. Since our first sale, over a decade ago, we’ve sold and resold hundreds of shared ownership properties worth in excess of half a billion pounds for housing associations and individuals alike. No other agent has the breadth of experience and expertise as Urban Moves.
From your initial enquiry through to completion, we’re helpful and on hand to explain, advise and guide you through the whole process.
For more information about successfully selling your shared ownership property, email: firstname.lastname@example.org or speak to Steve on 020 7378 7892