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Are you ready to move on and sell your Shared Ownership home? We hope your next step is going to be an exciting one! Before taking any action, one of the key points you need to consider is the ‘nomination period’ in your lease.
As a Shared Owner, your lease will likely have something called a ‘nomination period’ in it, this is a period of time for which your property can only be marketed for sale by the housing provider who you purchased the home from. You will need to read your own lease carefully to understand any nuances around your nomination period but in most cases, the housing provider has a period of time (usually 4, 8 or 12 weeks) to find a buyer for your share.
Once you inform your housing provider of your intention to resell your Shared Ownership home, they will either market your home for you – or point you in the direction of a preferred supplier, such as Plumlife Move. It’s even possible at this time that the housing provider may offer to buy back your share, but only in exceptional circumstances and if they have the funds available.
Alternatively, if your housing provider does not have the ability to resell your Shared Ownership home, you will be allowed to sell your share via an estate agent.
Here at Plumlife, we’re proud to have a Shared Ownership resale agency that helps lots of people through the resale process, ensuring customers maximise their assets and reduce any hassle. The team are proud to resell on behalf of customers after their nomination period has ended and for those whose housing provider don’t offer a resale service.
If you are looking to sell a Shared Ownership home, why not speak to our Plumlife Move team? Click here to contact them!
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