simpcity Selling a shared ownership property can feel a little more complicated than selling a traditional home, especially if it’s your first experience navigating the process. Many homeowners aren’t quite sure where to begin, what their housing association expects, or how valuation and marketing work in practice. If you’re preparing to move on from your shared ownership home and want a clear, straightforward breakdown of your options, this guide walks you through everything you need to know from start to finish. Whether you choose to sell your current share or staircase to 100% before selling, the aim is to help you make confident and informed decisions. If you need local support, Biggleswade estate agents can also offer guidance tailored to your area.
What Does It Mean to Sell a Shared Ownership Property?
Shared ownership gives buyers the chance to purchase a portion of a property—usually between 25% and 75%—while paying rent on the part owned by a housing association. When it’s time to sell, the process isn’t the same as a fully owned property because the housing association remains involved. They hold certain rights that dictate how the sale must proceed, especially during the first stages.
The key point to remember is this: you can only sell the share you currently own unless you decide to staircase to full ownership before listing the property. Most sellers don’t fully staircase when moving, so understanding your housing association’s rules is essential.
Step 1: Check the Terms of Your Lease
Your lease is your rulebook. It outlines what you can and cannot do when selling, including:
- Whether the housing association has the right to find a buyer first
- How long their nomination period lasts
- What fees you may be responsible for
- Requirements for valuations, marketing, and legal steps
Most associations have a nomination period of 4–12 weeks. During this time, they have the exclusive right to market the property and find a suitable buyer. You’ll also need to notify them in writing of your intention to sell before anything else can move forward.
Step 2: Get an Independent RICS Valuation
Shared ownership homes must be valued by a RICS-certified surveyor. This valuation determines the sale price of your share and ensures fairness for both the seller and the housing association. Estate agents cannot carry out this valuation.
Your sale price will be calculated based on:
- The full market value determined by the surveyor
- The percentage share you currently own
If the valuation seems inaccurate, you are entitled to request a second opinion, though additional costs may apply.
Step 3: Allow the Housing Association to Market the Property
Once the valuation is in place, the housing association will usually take responsibility for finding a buyer. They may:
- Advertise the property on their website
- Promote it through local channels
- Contact their list of approved buyers
This stage can actually be beneficial for sellers, as the association already has access to people actively looking specifically for shared ownership homes.
If they find a buyer, the process moves smoothly to conveyancing. If they don’t secure a buyer within the nomination period, you gain the right to choose how to market the property yourself.
Step 4: Selling on the Open Market
If the association’s nomination period expires without success, you can list your home with a high-street or online estate agent. At this point, you can market the property like any other—though the buyer still needs to meet shared ownership eligibility requirements.
When selling on the open market:
- You can compare agents, services, and fees
- You may be able to reach a larger pool of potential buyers
- Professional photography and marketing can help speed up the sale
The housing association will still need to assess and approve your chosen buyer before the sale can progress.
Step 5: Legal Requirements and Conveyancing
Both you and your buyer will need solicitors experienced in shared ownership transactions. This ensures:
- The lease terms are followed
- All staircasing and share-related rules are handled correctly
- The housing association’s interest is formally acknowledged
A good solicitor can prevent delays and keep communication clear between all parties: you, the buyer, and the housing association.
What If You Want to Staircase Before Selling?
Some homeowners choose to staircase to 100% before selling, which turns the property into a standard freehold or leasehold sale. This may be beneficial if:
- You want access to a wider pool of buyers
- The full value of the property is significantly higher now
- You prefer a traditional sale process
However, staircasing requires purchasing additional shares, so the cost will depend on the current valuation.
Costs Involved in Selling a Shared Ownership Property
While costs vary, sellers typically need to budget for:
- RICS valuation
- Repairs required before sale
- Housing association selling fees
- Estate agent fees (if selling on the open market)
- Solicitor and conveyancing costs
- Potential mortgage redemption fees
Understanding these expenses early prevents surprises and helps you estimate your final profit.
Final Thoughts
Selling a shared ownership property might involve a few more stages than a standard sale, but once you understand the process, it becomes far less daunting. The key is to work closely with your housing association, follow the lease terms carefully, and choose professionals who understand the shared ownership system. With the right support and a clear plan, you can move on smoothly to your next home with confidence.
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