Resales
Selling your Shared Ownership home
If you decide to sell your Shared Ownership home, you must follow the resale process set out in your lease. This is different from selling a home on the open market.
Key things to know about Shared Ownership resales
- Nomination period. Your lease will usually give us a nomination period, during which we, or our appointed resale agent, will try to find an eligible buyer. We’ll explain the full resale and marketing process to you at the start.
- RICS valuation. The sale price must be based on an independent RICS valuation, which you instruct. This sets the full market value of your home, and so the value of your share. Our resale agent has a recommended panel of surveyors you can use if you wish. Once the valuation is done, both you and we need to approve it.
- Marketing your home. Once the agency terms and all compliance documents are complete, your home will be marketed across a range of channels. The resale agent manages the whole process: arranging buyers’ financial assessments, handling enquiries, organising viewings and progressing the sale once a buyer is found.
- After the nomination period. If a buyer isn’t found during the nomination period, you may be able to sell your share on the open market, depending on the terms of your lease.
- Lease restrictions. In some cases, restrictions such as Designated Protected Area status, rural repurchase or Section 106 conditions may affect how a resale works.
Resales
Thinking of selling?
If you’re looking to sell your Shared Ownership home or have any questions about the process, get in touch. Email us at resales@archiehomes.co.uk.
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