Selling a home you share with a Housing Association
The resale process is one that requires a Chartered Surveyor who is an RICS Registered Valuer to provide a Red Book Market Valuation on.
Where homeowners were initially assisted in buying a shared ownership or shared equity property by a Housing Association, the Association will maintain an interest in the amount it sells for and also who it is sold to. They’ll want to ensure that a fair price is obtained and that whoever buys it can afford any rent payable to them.
For the price, one of our Chartered Surveyors can provide a Market Valuation report.
If the property is sold by an Estate Agent, the Housing Association will typically expect their share to be based on the higher of the Market Valuation figure and the amount the property sells for. However, before selling with an Estate Agent, there will normally be a nomination period within which the Housing Association can try and sell the property themselves. If they do, the homeowner pays them for it. If they don’t, the homeowner typically pays an Estate Agent to do the same.
Our Chartered Surveyors have provided numerous Market Valuation reports for Housing Associations over the years. They’re RICS Registered Valuers and always comply with any Minimum reporting standards that Housing Associations require. We pride our reports as amongst the most user friendly and most detailed in the Industry.
Once instructed to carry out a Valuation, we are normally able to provide our report within a week and can often, if necessary meet tighter deadlines where required. Larger portfolios may of course take longer but we will discuss implications with you at an early stage.
At Websters, we are Chartered Surveyors, regulated by the Royal Institution of Chartered Surveyors. Our services span most of London and some surrounding areas including Hertfordshire, Buckinghamshire, Essex and parts of Surrey and Sussex.
Please contact us if you would like to discuss your requirements on 020 8017 1943.