Questions about selling your shared ownership home?

99home is one of the UK's fastest growing Online Hybrid Estate Agents.

Their expertise, reliable resources, and strategic partnerships contribute to delivering incredible results to their customers. They offer professional photography, floor plan and advanced software for marketing and ensure smooth and efficient selling.

With 99home you will receive your own dedicated account manager to handle your listings every step of the way and your home will be listed on all major online property portals.

You will be in control of the sale from start to finish thanks to the company’s transparent, easy-to-use online system.

Once your home is listed for sale viewings will be arranged directly between you and any interested buyer who completes an enquiry form.

When a buyer submits an enquiry the email will go directly to you to arrange a viewing.

If you receive an offer, then you need to notify your estate agent and they will ensure your buyer completes the full affordability assessment.

If your buyer meets the affordability requirements, you will then complete the Agreed Sale form online (step 3).

Once we have fully approved your buyer we will supply a memorandum of sale.

Both your solicitor and the buyer’s solicitor will agree on an exchange and completion date and update Bromford so we can prepare a completion statement with all outstanding charges and fees payable to Bromford. This will include any additional shares, service charges and rent apportionments which will require at least 5 working days to arrange. Bromford would not usually be involved in agreeing exchange and completion dates, so these are negotiated between the buyer and yourself.

We would encourage you to keep in regular contact with your solicitor to make sure that the sale progresses as smoothly as possible. Remember that you are selling direct to your buyer and will need to meet them again on the day of completion.

You must ensure your valuation report is valid for three months.

After this, you can get an updated report if you need to, but the valuer can charge you a fee for this.

You might want to ask them about these fees when you initially instruct them as sometimes sales can take longer than three months.

Most Shared Ownership leases give us a period in which to find a buyer for the property. Our standard nomination period is eight weeks.

As Bromford do not currently hold a waiting list of eligible buyers, 99home will use this nomination period to help find you a suitable buyer.

The nomination period starts when we receive a fully completed instruction to sell your home. Bromford is happy for you to sell your home as a 100% share if the terms of your lease allows you to do this.

If there is a nomination period stated in your lease, you can usually sell your home on the open market straight away.

You can advertise your property independently if we are unable to nominate a buyer within the nomination period via 99home.

You would, however, need to market your home for the full market value and sell at the 100% price and not at the share price.

With some Shared Ownership homes, you may not have the option to purchase further shares up to 100% because restricted staircasing has been applied to the lease. This will only apply to a small number of homes where the local authority wants to ensure that the properties in the village remain affordable to local people both now and in the future. Your solicitor should have told you about this at the time you bought your home.

Your solicitor would have sent you a copy when you purchased your property. Alternatively, you can request a copy from your mortgage lender or from the UK Land Registry website. Your Neighbourhood Coach could also offer you support to see if we hold a copy on file.

If you're not happy with the valuation you receive, you will need to discuss it with your valuer. We can only accept the valuer’s decision.

In most cases, we would refuse to approve the buyer. This would result in your sale falling through and everyone losing any fees they have already paid. You are responsible for understanding the terms of your lease, so it is vital that you follow these terms.

In rare circumstances, if you have sold 100% we may permit the sale to proceed. However, due to the fact you have breached your lease, you will be required to pay a charge of £3,000 or 1.5%, whichever is the higher, of the sale price for 100% of the equity.