Selling My Home
If you tell us that you want to sell your share, your property has to be valued by an independent expert who is an associate or fellow of the Royal Institution of Chartered Surveyors (RICS). We can arrange this for you, although you will have to pay for the cost.
How much can I sell my share for?
The valuer will contact you to arrange a visit to your home
- They will then decide the amount you can sell your home for
- For example, if the property is valued at £200,000.00 and you own 50% of it, you can sell your share for £100,000.00.
You’ll need to pay for a solicitor to act on your behalf and provide an energy performance certificate.
How do I sell?
If you tell us you want to sell your home, we will try to find someone to buy your share. Rosebery have a nomination period. This is usually 8 or 12 weeks where we’re allowed to find a buyer for your share (you cannot sell on the open market during this time).
- Your lease will explain the specific length of time we have for this period
- If we find someone to buy your share, you’ll have to pay us a fee of 1% plus VAT of the value
- You’ll also have to pay for the valuation and our legal costs.
If your lease is subject to a head lease, there may be extra costs by the freeholder. If you’re unsure whether this applies to you, please call our Customer Services Team on 01372 814000
What happens if you do not find me a buyer?
You’re then allowed to sell your share on the open market once the nomination period has ended.
- On the day the sale is completed, you buy the rest of the shares and sell them on at the same time
- The valuation only lasts three months, so if it runs out before you complete the sale, you’ll need to pay for another valuation
Your solicitor will pay us the monies we’re owed and if you sell the property for more than the valuation, the money we get will be based on the sale price.