Selling your RCT Homestep Plus home
If you decide to sell your home, United Welsh need to be involved from the start of the process.
Here, we’ll talk you through the process of selling your RCT Homestep Plus home.
Please be aware that:
- You cannot sell your home without the prior knowledge or consent of United Welsh
Please let us know in writing that you wish to sell or remortgage your home, or if you wish to transfer or purchase United Welsh’s equity.
If you sell your home on the open market at 100%, the purchase price will be no less than the full current open market value of the property – as stipulated in the valuation report.
If you sell your home for above the open market value, you will repay United Welsh 30% of the agreed sale price. Keep in mind that if a sale is agreed below the open market value, you will still need to repay United Welsh 30% of the valuation.
When purchasing equity from United Welsh, the purchase price will be no less than 30% of the open market value at the time you wish to purchase the equity.
To find out the current value of the property, a valuation survey is required.
You can arrange this with an independent, qualified RICS (Royal Institute of Chartered Surveyors) valuation surveyor, or we can arrange the survey on your behalf.
If you arrange the valuation survey, you must provide us with a copy of the valuation report.
If you or United Welsh disagrees with a property value, an independent valuation report will be obtained at the joint expense of you and United Welsh.
The valuation report must be valid at the time of agreeing a sale, purchasing equity, remortgaging, or transferring equity. If the validity period has expired, this may be extended by up to three months if agreed by the valuation surveyor, at no extra cost. Beyond three months, a revaluation is necessary.
Please read this breakdown of everything you need to know about selling, remortgaging, purchasing the equity, or transferring equity of your home for more details
