Selling a Shared Ownership home is known as Resale. When selling your share of the home you must advise SBHG of your intention to sell.
To ensure that your home is made available to buyers who qualify for shared ownership, we will, for a short period specified in your lease, have the right to find a buyer for your home. We do this so we can help other first time buyers on to the property ladder and we are able to offer you an expert sales service at a competitive rate.
We charge a fee for this service, to cover our costs, but it will usually be less than the cost of an estate agent. If we can’t find a buyer within the timeframe you are free to make your own arrangements. You can do this by back-to-back staircasing and selling on the open market, or selling your share to someone, approved by us, who meets the Homes & Communities Agency criteria for shared ownership.
Like staircasing, the price you sell your home for will be based on the market value at the time. This will be determined by an independent RICS qualified valuer. Like any home, the value of a Shared Ownership property can rise and fall according to the housing market. When selling your share of the home you must advise SBHG in writing of your intention to sell your property. The Resale Team will assist you through the process of selling your home. You're free to sell your share of your home at any time.