Selling your Shared Ownership property

If you are already a WHT resident and have decided it’s time to move on and looking to sell your home we offer the following guidance:-

Selling your Shared Equity home is a similar process to selling a privately owned, open market property. It is helpful if you can find a buyer for your home before committing to your next purchase.

We are always sad to see our current property owners go but understand that circumstances change and it always gives us great pleasure welcoming the next person onto the property ladder.

Once you have definitely decided to sell your home, please see our selling process below.

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Winchester Housing Trust Selling Process

  • The first step to buying your home is to put it in writing to us, of your intention to sell.
  • Once we have acknowledged this, you will then need to obtain a full valuation carried out on your property, which can be arranged using any reliable and reputable estate agent or surveyor (please note you will be responsible for any costs incurred).
  • Once you have received a valuation, you then need to forward this to us so that we are satisfied with how this compares to our own stock valuation sheet.
  • Once both parties have agreed to a sale price, we will then provide you with rental figures for any new buyer and you may begin to market your property, using an estate agent of your choice (please note, the Trust are not responsible for the marketing and/or costs of your property).
  • As this is a shared ownership property, you will need to ensure any marketing or estate agent is fully aware of its criteria:
  • Investors are not permitted to buy this property
    • Any potential buyer must have a local connection to the area,  i.e. they have lived in the area for at least 12 months and/or they work, or have strong family connections within the area. Any buyer will need to evidence this.
    • The potential buyer cannot own a property elsewhere and this must be used as their home and be their only property.
  • Once you have found a potential buyer, you will need to forward their details to WHT, or have them contact WHT directly, so that a financial assessment and criteria check can be carried out.
  • Once a buyer has been approved, you can then instruct a firm of solicitors of your choice and the sale process will commence (please be aware you will be fully responsible for your solicitor fees).
  • Please note, as WHT will need to instruct external solicitors to carry out your sale/purchase, the costs will be split between the buyer and the seller, with each party being charged a £600 administration fee, respectively.
  • Please contact charlotte@winchesterhousingtrust.co.uk for any enquiries regarding the sale process.