Selling your shared ownership property
Your shared ownership leasehold property comes with some rules about selling, which help us to ensure that it is sold to somebody in a similar position to you when you first purchased with us.
If you are looking to sell your LiveWest shared ownership home, contact our team by calling 01392 814 637 or email us at firstname.lastname@example.org
- Contact LiveWest to get relevant forms that you need to fill out before the process starts.
- You will also need to supply a valid EPC certificate and a copy of your signed shared ownership lease. You can get this from your purchasing solicitor or you can download a copy from Land Registry by clicking here: https://www.gov.uk/guidance/land-registry-portal-how-to-request-official-copies
- Please then return to us your completed property information form and Lease summary along with the copy of your lease and EPC certificate. Once we have all the documents we need and the payment for the valuation, LiveWest will instruct your surveyor of choice.
- The surveyor that you have chosen will provide the full valuation report of your property to LiveWest. This will then be checked by us prior to sending out confirmation to proceed. (This will contain finer details regarding your valuation and lease)
- If you are happy with the valuation, you will need to choose and instruct an estate agent. Please use the provided form from LiveWest to let our team know who this will be, and contact your estate agent direct to arrange this.
- Once your property is live on your estate agent website, LiveWest will also list your property on Help to Buy South/South West free of charge.
- LiveWest will contact potential buyers (sent from your agents) and send them an application form to complete and apply for the property. Once we receive a completed application, we will let you know. Your estate agent is still free to conduct any viewings during this time until a buyer has been assessed and offered. We will always try and give you formal decision as soon as we can however this can take up to 10 working days.
- Once an application has been fully assessed, they will be formally offered the property.
- You will need to provide us with your solicitor’s details on your offer acceptance. Your buyer will also need to complete this process and pay a £500 reservation fee. A memorandum of sale will then be issued to both yourself and your solicitor. It will contain details that may be helpful to you during the conveyancing process
- At this time, your solicitors will ask for you to pay search fees and management pack fees. Please contact your solicitor directly to get a breakdown of what these might be. You will need to provide your solicitor with formal instructions and payment for any fees to avoid any delays. During the legal process, your solicitor and your buyer’s solicitor will be in touch with each other regularly. Please ensure that your solicitor keeps you up to date and that updates are passed on to LiveWest.
- A completion date will be agreed between your solicitor and the buyer’s solicitor. Please let your solicitor know if you have any specific dates in mind.
We would love to hear about how your experience was through the process of selling your shared ownership home. Please email us at email@example.com to share your experience.