Selling your shared ownership property
Step 1. Tell us you want to sell
Tell us in writing by letter or email that you want to sell your home.
Please include your full name, address and contact number(s).
Step 2. Send us photos
If your lease says that we’re responsible for finding a buyer, please send us some photos of your home. Try to capture the property at its best (clean and in good light), and include plenty of photos of the inside and outside. We’ll use these to advertise the property.
These can be emailed to us directly. Again, please include your name and address in the email.
Step 3. Valuation
In most leases it’ll say that you pay for a market valuation of the property. This cost is £180. You can pay by direct bank transfer (from your mobile banking app or at a bank) or by cheque. Please make sure you include the reference ‘KP’ and then your address eg KP10ParklandRoad.
Once we’ve received your payment we’ll appoint a surveyor registered with the Royal Chartered Institute of Surveyors (RCIS) to inspect and value the property.
In some of leases it will allow you to arrange the valuation yourself. Either way, it must be carried out by a registered RCIS surveyor.
Step 4. Finding a buyer
We’ll advertise the property on the Help to Buy website and any buyer must meet the criteria for shared ownership.
We’ll give you details of any potential buyers, for you to arrange viewings with them.
In most leases, it says that we have 8 weeks to find a buyer. If we don’t manage, you can sell it on the open market (for example through an estate agent); however, the buyer will still need to meet the criteria for shared ownership.
Step 5. Legal process, completion and selling costs
Once you’ve decided on a buyer, we’ll contact both your and their solicitors’ and confirm that the sale can go ahead.
They will then start the legal checks, and agree a date for the sale to take place.
Depending on the conditions in your lease, you may have to pay a selling fee, which can be about 1-1.5% of your share of the property.