If you want to sell your shared ownership home, you’ll usually need to let us know first. In this section you can find more information on selling your shared ownership home.
Some of our leases give us nomination rights for your property. This means that for a period of time (usually eight weeks) we can advertise your home to people on our waiting lists. If we find a buyer for you, there’s a fee for this sale.
If we don’t find a buyer during this period, you can sell your home through another estate agent. If you bought your home under an affordable home ownership scheme, the new buyer will have to meet the requirements for this.
A step-by-step guide to selling your home
When you sell your shared ownership home, you usually have to give us the chance to nominate a buyer. We hold a database of people who have applied to us and we will do our best to find a buyer quickly.
If we can’t, you’re free to sell your home on the open market depending on what your lease says– usually two months after we have received your request to sell.
When you sell your home, you must get it valued. The price of your share will be a percentage of the full market value. Your valuation must be done by a Valuer that meets our requirements. These firms are not part of Guinness, but understand shared ownership valuations.
For example, if you own a 50% share and the full value of your home is £200,000, the sale price will be 50% x £200,000 = £100,000.
If you’ve made improvements that affect the value of your home, they’ll be valued separately.
Before you instruct us to sell your property, there are a few things that you will need to do.
Please read this guide and the Shared Ownership Resales FAQs carefully to understand how all of this works.
Step 1 – Get the valuation and take photos.
Step 3 – Choose and instruct a solicitor.