Selling your home

Shared owners can sell their home at any time. If you own 100% of the home, you can usually sell it on the open market, for example, through an estate agent. However, if you do not own 100% of your home, you must inform us of your intention to sell before proceeding with selling the property.

You should always consult your lease agreement first. If you have any questions about selling your home, you can email them to homeownership@dover.gov.uk.

Resales process

We have put together a brief guide explaining the resale process.

1. Check your lease agreement

• You should check your lease agreement to see whether there are any restrictions or requirements during the resales process. If you are unsure about your lease agreement or have any questions, please contact us on homeownership@dover.gov.uk.

2. Get a property valuation

• You must have an independent RICS-qualified surveyor to value your property. The cost of the new share will be dependent on this valuation. You are responsible for arranging and paying for this. The valuation lasts for 3 months – if the sale does not complete within that time you may be required to have the property revalued.
• You can find a local RICS-qualified surveyor by using the RICS website: RICS Find a Surveyor (ricsfirms.com).

3. Check the valuation

• It is important that you check through your valuation report. If you have any questions or concerns about the valuation, you should speak to the surveyor directly to resolve them before proceeding with selling the property.

4. Submit your intention to sell form

• Once you are happy with the valuation, you must complete an Intention to Sell form. You must submit this, along with your valuation report to homeownership@dover.gov.uk. Once received, we will assess your application and the valuation. We will confirm to you in writing whether we have accepted your valuation.

5. Selling your home

• We will market your property for a set period, depending on your lease agreement. This is known as the 'nominations period' where we can nominate an eligible buyer to purchase your property. If unsuccessful, you will be allowed to sell your property on the open market but at the amount specified on your valuation.

6. A buyer is found

• Once an eligible buyer is found their mortgage broker will apply for their mortgage. A copy of their mortgage offer must be sent to us.

7. Conveyancing

• Once your buyer’s mortgage has offered their solicitor will complete their legal undertakings. You and your solicitor should be prepared to answer any questions or queries. We will issue the Licence to Assign to you and your buyer’s solicitors who must complete the form as instructed.

8. Exchange of contracts and completion

• Your sale will only proceed to exchange and completion once your solicitor and your buyer’s solicitor have completed all their searches and reported back to you. When the contracts have exchanged your buyer will pay their deposit and both solicitors will draw down funding from mortgage lenders. On completion you must hand all sets of keys to us; we will hand these over to the new owner. 

Considerations

When is the best time to start property searching?

Generally, having a buyer for your property puts you in a stronger negotiating position when placing offers on new properties, however you can start searching for your future home when you want to.  

If my sale doesn’t complete within 3 months, will I need a new valuation?

If your sale doesn’t complete within the valuation’s 3 months validity, you may need to obtain a new valuation. Some valuers may be able to extend a valuation report, however there may be an additional fee charged. We suggest that prior to instructing a surveyor you clairfy with them if they can extend a valuations expiry date and if there will be a cost and what that is.

 

Contact us

If you have any questions about selling your home, please contact us by emailing homeownership@dover.gov.uk.