Selling your Shared Equity 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 Shared Equity home.
Please be aware that:
- You can sell your Shared Equity home at any time
- You can purchase United Welsh’s equity share outright or in portions of no less than 10% but this is restricted to the first three years of occupation
Please let us know in writing that you wish to sell your home. To process your request, an administration fee will be payable to United Welsh.
The current value of your property needs to be established and the shared equity percentage purchase price
To find out the value of the property, a valuation survey is required.
You can arrange this with a qualified valuation surveyor, or we can arrange the survey on your behalf with an independent surveyor.
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 will be obtained at the joint expense of you and United Welsh.
We may be able to introduce a buyer to you from the Harmoni Homes/Local Authority waiting lists. People on these lists have expressed an interest in purchasing a Shared Equity property.
If United Welsh introduces a buyer to you, you will be charged an Introduction Fee, just like an estate agent would, which is 1% plus VAT of the equity share being sold and not the full open market value of the property.
If we are unable to introduce a buyer to you after the nomination period has expired (the period stipulated in the Legal Transfer) you are able to put the property on the open market with an estate agent, sell it for 100%, and repay United Welsh its equity share. You will be responsible for paying your own estate agents and legal fees together with United Welsh’s fees.
Please read our breakdown of everything you need to know about selling and remortgaging your home, and transferring or purchasing equity for more information.
