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I want to sell my shared ownership home

  • I want to sell my shared ownership home

    If you own a shared ownership home and want to sell it, our Resale Guide will tell you how step by step.

    You can download a 'Notification to sell a shared ownership home' here.

    On receipt of your form and valuation documents we will:

    • List your property on a Help to Buy Agent site. The property will state the % you currently own. A buyer may be able to buy a larger % share or all of the property.

    We will let you know:

    • If we must obtain nominations from the Local Authority
    • If there are any restrictions in place on the sale of your property – e.g. the property may only be sold to people living or working in the local area
    • The maximum % share in your property that can be purchased
    • When you can put the property on the market with an Estate Agent.

    Once a buyer is found we will:

    • Carry out checks to ensure any potential viewer is eligible in principle for shared ownership.
    • Provide information to your solicitor as well as the buyer's solicitor once a sale is agreed.
  • The share you own may not be sold for more than the market valuation. This is a condition of the lease.

    We do not benefit from any increase in property value due to any improvements you have made. We do not receive any money from the sale other than an administration fee to cover our costs.

  • Any purchaser buying a share must qualify for shared ownership and register with a Help to Buy Agent. We will also carry out a more detailed assessment to ensure the purchaser meets our eligibility criteria. We are required to approve the mortgage offer for any purchaser and consent to the purchase as this is usually a condition of the lease.
    • You are responsible for your valuation and Energy Performance Certificate cost.
    • We will charge you an extremely competitive administration fee. This covers our costs for listing the property during our nomination period and our administration costs including responding to your, your solicitors and your buyers solicitors questions; assessing the purchaser and approving their mortgage offer. We do not provide the services of an Estate Agent. E.g. We do not produce sales particulars, provide a viewing service, signage or any marketing other than listing your property on a Help to Buy Agent's website.
    • If we confirm you can instruct an Estate Agent you will also be responsible for their fees. An agent will typically charge you 1 – 1.25% of the market value for their marketing services.
    • You have to pay your own solicitors costs.
  • For further information regarding solicitors please visit the Help to Buy agent for your area by using the links below:

    Help to Buy Midlands
    Help to Buy East and South East