Selling a Shared Ownership Property Solicitors

If you’re thinking about selling your shared ownership home, it’s important to understand that the process is different from selling a property you own outright. Shared ownership sales often involve additional steps, including notifying your housing association, following the terms of your lease and completing specific resale procedures.

At Macks Solicitors, our experienced conveyancing solicitors are here to make selling your shared ownership property as straightforward as possible. We’ll explain your options, handle the legal process on your behalf and keep you updated throughout your sale.

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For no-obligation advice and information, call our specialist conveyancing solicitors today on 01642 843 669 or use our contact form and we will call you back.

Can I Sell My Shared Ownership Property?

Yes, you can usually sell your shared ownership property. However, the process depends on how much of the property you own and the terms of your shared ownership lease.

If you do not own 100% of the property, you will usually need to follow the resale process set out by your housing association. This often involves notifying the housing association, obtaining an independent valuation and giving them the opportunity to find a buyer for your share.

If a buyer cannot be found within the required timeframe, you may usually be able to market the property yourself, depending on the terms of your lease.

Alternatively, if your lease allows, you may be able to buy the remaining share of your property before selling. This means you could own the property outright before putting it on the market. Our conveyancing solicitors can advise you on whether this is an option available to you.

Our conveyancing solicitors can review your lease, explain your options and guide you through the process.

Do I Need to Tell My Housing Association If I Want to Sell?

Yes, you will usually need to notify your housing association before selling your shared ownership property.

Your housing association will explain the resale process and any requirements you need to follow. This may include arranging a valuation, checking your property details and giving them the opportunity to find an eligible buyer for your share.

Our solicitors can communicate with your housing association throughout the transaction and help ensure the correct procedures are followed.

What Is the Resale Process for a Shared Ownership Property?

The resale process for a shared ownership property is different from a standard house sale. The process will usually involve:

• Informing your housing association that you want to sell.
• Arranging an independent valuation of the property.
• Marketing your share to eligible buyers through the housing association.
• Allowing the housing association a set period to find a buyer.
• Selling your share on the open market if a buyer is not found, where permitted.
• Completing the legal paperwork required for the sale.

The exact process will depend on the terms of your lease and the requirements of your housing association.

Do I Need a Valuation Before Selling My Shared Ownership Property?

Yes. Most shared ownership sales require an independent valuation before the property can be marketed.

The valuation is usually carried out by a qualified surveyor and determines the current market value of the property. This is then used to calculate the value of your share.

Your housing association may have requirements about who can carry out the valuation, so it is important to follow the correct process from the beginning.

What Is a Nomination Period When Selling Shared Ownership?

A nomination period is the timeframe during which your housing association has the opportunity to find a buyer for your share of the property.

During this period, the housing association may market the property to eligible shared ownership buyers. If they are unable to find a buyer within the required timeframe, you may usually be able to sell your share through other methods, depending on the terms of your lease.

The length of the nomination period varies depending on your housing association and lease.

Can I Sell My Shared Ownership Property If I Own 100%?

If you have purchased all the shares in your property through staircasing, you may be able to sell your home in the same way as a standard property sale.

However, it is still important to check your lease and title documents, as there may be restrictions or obligations that continue to apply.

Our conveyancing solicitors can review your documents and advise you on any requirements before you put your property on the market. Call our specialist conveyancing solicitors today on 01642 843 669 or use our contact form and we will call you back.

What Happens During the Shared Ownership Selling Process?

Selling a shared ownership property involves several legal steps. Our conveyancing solicitors can assist with:

• Reviewing your lease and title documents.
• Liaising with your housing association.
• Checking the requirements for your sale.
• Preparing the contract documentation.
• Responding to enquiries from the buyer’s solicitor.
• Working with your mortgage lender.
• Arranging repayment of your mortgage.
• Completing the sale and transferring ownership.

We will guide you through each stage and provide clear updates throughout your transaction.

How Long Does It Take to Sell a Shared Ownership Property?

The time it takes to sell a shared ownership property can vary depending on your circumstances. Factors that may affect the timescale include:

• How quickly your housing association responds.
• Whether they are able to find a buyer during the nomination period.
• Whether the buyer requires a mortgage.
• The length of the conveyancing process.
• Any issues identified during legal checks.

Our team will work proactively to help minimise delays and keep your sale moving forward.

What Costs Are Involved When Selling a Shared Ownership Property?

The costs involved will depend on your individual circumstances, but you may need to consider:

• Conveyancing fees.
• Housing association administration fees.
• Valuation fees.
• Estate agent fees (if applicable).
• Mortgage repayment charges.
• Outstanding service charges or ground rent.

We will provide clear information about our legal fees from the outset and explain any additional costs you may need to budget for.

Why Choose Macks Solicitors for Shared Ownership Conveyancing?

Selling a shared ownership property can involve additional legal requirements, but having an experienced conveyancing solicitor can help make the process much simpler.

At Macks Solicitors, we offer:

• Experienced residential conveyancing solicitors.
• Clear, straightforward legal advice.
• Regular updates throughout your transaction.
• Support with housing association requirements.
• A personal service focused on achieving a smooth completion.

Contact us

For more information about conveyancing, you can call us on 01642 843 669; alternatively, complete our online contact form and one of conveyancing solicitors will be in touch.

Macks Solicitors provide a comprehensive conveyancing service across the country from our offices in Middlesbrough, Darlington and Redcar.