SELLING YOUR SHARED OWNERSHIP PROPERTY
We use our partner bpha sell our shared ownership properties.
If you currently live in a OwnHome shared ownership home and wish to sell your property, just follow the steps below.
How to do it
Before you can agree a sale on your share of the property, you will need to be sure of the following:
- Your account is not in arrears – although if we have assurance from a Solicitor that the arrears will be paid we will consent to the sale.
- The property is valued by an Independent Chartered Surveyor and bpha will require a copy of the valuation report.
- You have an Energy Performance Certificate. There may already be a valid one for your property which can be located on the EPC Register.
- If you are aware that the property is in negative equity you must contact your mortgage lender to arrange how you will pay the shortfall back on the share you own.
Once these points have been dealt with the property can be marketed.
bpha will market your property on your behalf. OwnHome will have a nomination period in which to find a buyer. If we are not successful you can choose to continue with bpha marketing your property on their website and Rightmove – if not, you can instruct an Estate Agent at your own expense.
Please note: that any costs charged by the Estate Agent are your responsibility along with Solicitors fees and any fees mentioned in your lease.
All prospective buyers must be approved by bpha Ltd. This is to ensure that they meet the criteria of the Shared Ownership Scheme – find out more about eligibility criteria here.
If your prospective buyer wishes to buy the whole of the property it is essential that you let us know, because although the process is similar we will have to involve our solicitors to arrange the sale of our share.
For more details on who we are and what we do see below.
GET IN TOUCHIf at any time you want to get in touch with us, please do.Learn More
StaircasingIf you are a shared owner, you can increase the equity that you own in your shared ownership property by purchasing more shares in your property.Learn More
Shared ownersAlready a shared owner? You can increase the equity that you own in your shared ownership home by purchasing more shares in your property. This is referred to as staircasing and can be done at any time after you purchase your home.Learn More