If you are already a WHT resident and have decided it’s time to move on and looking to sell your home we would like to offer the following guidance:-
Selling your Shared Equity or Shared Ownership home is a similar process to selling a privately owned, open market property. It is important you find a buyer for your home before commiting to your next purchase.
We are always sad to see our current property owners move on but happy to see those residents fulfil their desire to own 100% of their own home. It always gives us great delight to welcome the next person on our waiting list onto the property ladder.
Once you have definitely decided to sell your home, please see our selling process below.
Winchester Housing Trust Selling Process
- Instructions will be given to a Quantity Surveyor to professionally value the property. This is NOT an estate agent valuation and is a non negotiable price for anyone looking to purchase your home. The cost of the valuation is approximately £300. You will need to pay for the valuation before it can be carried out.
- Once the valuation has been completed a copy will be issued to you and WHT. If you agree with the valuation offered, WHT will need to confirm their acceptance and the marketing price will be agreed.
- The house would then be advertised for sale. We do not use Estate Agents as they are costly and in our experience, unnecessary. The house will be marketted through our own internal waiting list and through the Help to Buy Website http://www.helptobuysouth.co.uk. We have an excellent success rate using these channels and it saves unnecessary fees. If you wish to appoint an estate agent you will have to bear the cost of any such instruction.
- At this point we will ask you to confirm that you formally wish to surrender the lease on your property. We will provide you with a template letter and once received we will confirm acceptance of your lease surrender and provide you with details of our solicitor.
- You will be expected to show prospective buyers around your property and they will liaise directly with you for appointments.
- Once we have found a buyer we will instruct our solicitors to process the sale. All parties will need to appoint a solicitor and WHT request you refrain from using Blake Morgan as they are appointed to WHT sales. There is a cost of £600 applicable to processing your sale which covers the cost of the Trust’s legal expenses.
- The sale process takes a minimum of 8 weeks and can sometimes be a frustrating time. Please remember we are here to help and will use our best endeavours to ensure the process is as smooth as possible.