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Selling your home

Selling your Shared Ownership home

If you want to sell your Shared Ownership home, you need to let us know first. 

Most of our leases give us nomination rights for your property. This means that for eight weeks we advertise your home to people on our waiting lists and on this website. 

If we don’t find a buyer during this period, you can sell your home through an estate agent. If you bought your home under an affordable home ownership scheme, the new buyer would have to meet the requirements for this.

  • Step 1 - Understanding the process

    Understanding the process

    When you sell your Shared Ownership home, you 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 completed by a valuer that meets our requirements.

  • Step 2 - Get an idea how much your home is worth

    Get an idea of your house value by visiting a valuation site like Zoopla. With Zoopla, you can get an indication of the value of your home.

    Follow the link below to discover what your home may be worth on the Zoopla website.

    Check Zoopla

  • Step 3 - Arranging a RICS survey report

    When you've decided you do want to sell your home, the first step is to arrange a formal RICS survey.  This is a requirement of your lease.

    We have a panel of surveyors who understand our requirements for your valuation report.  Alternatively, you can choose your own surveyor near you by searching the RICS website.

    There is a fee for a valuation report which you will need to pay directly to the company you choose.

    If using one of our panel members remember to inform them that you are selling a your home with Guinness so they can confirm any preferential rates that they offer our customers'.

    Company name: 99 Home
    Areas covered: 
    All of England
    Contact details: 
    0203 5000 999
    Cost for RICS survey:
    £225

    Company name: McDowalls
    Areas covered: London, Essex, Kent, Hertfordshire, Milton Keynes and Portsmouth
    Contact details: 020 8472 4422 / valuers@mcdowalls.com
    Cost for RICS survey: £300

    Company name: Bolton Marshall
    Areas covered: Lancashire and Greater Manchester
    Contact details: 01706 638341 / info@boltonmarshall.co.uk
    Cost for RICS survey: TBC

    Company name: Crapper & Haigh
    Areas covered: Yorkshire, Derbyshire, Nottinghamshire and Lincolnshire
    Contact details: 0114 272 9944 / enquiries@crapperhaigh.co.uk
    Cost for RICS survey: £225 

    Company name: Better Prepared
    Areas covered: Milton Keynes, East Midlands, East Anglia, Essex & Northern Home Counties
    Contact details: 08456 443970 / mail@betterprepared.co.uk
    Cost for RICS survey: £180

    Company nameBerry Brothers
    Areas covered: Buckinghamshire, Northamptonshire, Bedfordshire and Warwickshire
    Contact details: 01327 356140 / jonathan.carpenter@berrys.uk.com and Irene.lord@berrys.uk.com
    Cost for RICS survey: £180

    If you prefer you can find other RICS surveyors by using this website.

    Energy performance certificate

    You'll need a valid Energy Performance Certificate for your home - you can check if your home already has a valid certificate by visiting this website.  If your home does not have a valid Energy Performance Certificate then you can ask your RICS surveyor to prepare one for you.

    Important notes

    • The surveyor needs to be independent and cannot be associated with any estate agents.

    • The surveyor must not be related to you.

    • The surveyor must not be employed by any bank/building society.

    • The surveyor must be registered with a recognised qualification of FRICS, MRICS or RICS.

    • We will require a copy of the valuation report; this should be valid for three months. (and should be valid until completion takes place).

    • The report must include at least three comparable properties used to determine the value.

    • The report must also state that we can use the contents of the valuation report.

    • The surveyor will need to be informed of the remaining length of your lease and take this into consideration when valuing the property. The report should be annotated as such, to reflect this.

    • On receipt of your own independent valuation report, please arrange for a copy to be sent to us.

    • The report should be signed by your surveyor.

    Valuations

    Depending on whether you sell your current share or a larger share (up to 100%) the requirements for the valuation will vary:

    • If you are selling your share, your valuation should be valid at the point of sale. You are not required to maintain the valuation report past this point, but you may choose to. The valuation can be carried out by an independent RICS accredited surveyor or by Move With Us.

    • If you are selling a larger share than you own or completing a 100% staircase and onward sale transaction, you will need to have a valid valuation report at the point of sale and ensure that this is maintained through to legal completion. Your valuation report will need to be RICS accredited; you won’t be able to use one carried out by Move With US, an estate agent or a lender. Move With Us also provide a RICS service at an additional charge.

     

  • Step 4 - Understanding the costs

    What Guinness pay for

    We utilise a company called 99 Home Ltd to arrange for photography of your home and to advertise your home on Rightmove and Zoopla.  Guinness will pay the cost of this directly to 99 Home Ltd.

    What you'll need to pay for

    • A valuation survey report written a Royal Institute of Chartered Surveyors member - see step 3

    • Energy Performance Certificate - approx £45
    • Our solicitors fees - £390

    • The resale fee mentioned in your lease. (If there is no mention of a fee in your lease we will charge £1,200 if your home sells within the nomination period or £540 if your home sells after the nomination period.)

    • Your solicitors fees

  • Step 5 - Getting your home on the market

    To sell your Shared Ownership home, you need to get the home formally valued and have an Energy Performance Certificate (EPC) carried out - see Step 3.

    The price of your share will be a percentage of the full market value. For example, if you own a 50% share and the full value of your home is £200,000, the sale price will be £100,000.

    What is involved?

    1. You contact a RICS surveyor to visit your home and write a report on its value - see step 3

    2. When you've received the RICS survey report, you complete the application form below agreeing to pay the costs associated with selling your home
    3. We'll ask 99 Home Ltd to call you to arrange a visit to your home for professional photography to show your home at its best

    4. When we've received the photographs from 99 Home Ltd we'll arrange for the property to be listed on websites such as Rightmove, Zoopla and the Guinness Homes website

    5. Any interested buyers will contact you to arrange a viewing of your home - completing the application form gives agreement that your contact email will be shared with prospective buyers when they enquire

    6. Should a buyer decide to purchase your home we'll ask them to complete an application form to ensure they are eligible for Shared Ownership.

    Ready to sell your home?

    Just check you have the following items saved on your computer or device ready to upload as part of the application form.

    • Copy of your Energy Performance Certificate

    • Copy of your RICS survey report

    • Copy of your passport or driving licence (for both if appropriate)

    • Copy of a proof of address (such as a utility bill, council tax bill)

     

    Ready to sell

     

     

    What happens when I've completed the form?

    We'll get everything ready like checking your lease and asking our photoography company 99 Home Ltd to call you.  They'll arrange an appointment with you to take photographs and draw a floorplan of your home.

    When the property is listed for sale

    Viewings are arranged directly between you and any interested buyers who complete an enquiry form on your property listing.

    When a buyer submits an enquiry form on your property listing, this will come to you by email so that you can arrange a viewing with them directly.

    After your viewings

    Customers will be able to submit an application form following their viewing. Please note we also require certain documents to be able to process their application. We will provide a list of necessary documents to your applicants.

    To ensure that we are offering your property on the priority basis as specified by Homes England, we will not process any applications until your property has been advertised for at least ten working days.

    We’ll then offer your home to the customer with the highest priority. If they no longer wish to buy your home, we will continue to offer it to customers in order of their priority.

    Financial assessment

    To approve a buyer we'll ask for one of our panel of mortgage brokers to carry out a financial assessment to check that the home is affordable for the buyer.

    We’ll then instruct your solicitor, the buyers’ solicitor and our solicitor to begin the process of selling your home.

    The sales process

    Once we’ve instructed solicitors, you and your buyer should liaise with your solicitors to progress the sale. We’ll be on hand to offer advice along the way, but most of the negotiations will be done between your respective solicitors.

    Your solicitor will be able to let you know once all the conveyancing has been completed and you are ready to exchange. Completion of the sale usually takes place five to ten working days after the exchange.

Frequently asked questions

If you need help - check out our frequently asked questions.

Frequently Asked Questions

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