If you are still a shared owner you will have to pay for the property to be valued. The valuation gives the maximum amount you can sell your percentage share for. For example, if the property is valued at £200,000 and you own 50%, the maximum you could sell your share for would be £100,000.
You will also have to commission a Home Information Pack (HIP) before we are able to offer your share for sale, and we will need to know the details of your HIP provider as soon as you have done this. You can find out more about Home Information Packs here.
We will try to nominate a new buyer from the Local Authority or from one of our waiting lists. Your lease specifies the maximum period of time the nominations period lasts.
If we nominate a buyer we will charge you a fee of 1% of the value of your share.
If we cannot nominate you a buyer within a set time period of time you can:
Sell your share for no more than the valuation fee, on the open market;
OR
Sell all of the property on the open market and at the same time pay us for our share of the property. This is known as simultaneous staircase and completion.
If you own 1OO% of your property you do not need to have a valuation carried out in order to sell it but you must ensure that we are aware that you have sold your home. Please ask your solicitor to do this for you.
If you would like a pack giving you more information about selling your property, please contact the Home Ownership Department on 0845 35 12345.