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Offer from owner of a shared ownership property
jangor_2
Posts: 280 Forumite
My EA contacted me to advise I had an interested possible buyer of my house. Although the offer was a little low I am happy to accept it. However the buyer has not yet sold his property and is in some sort of shared ownership scheme. The EA seemed a little foggy about the details but it appears that the property cannot be sold on the open market. Is this likely to be a problem?
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Comments
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Keep looking for someone else, once they have sold the SO property tell them to come back to you.
(would do this for any offer where they ned to sell SO just makes it more likely it will be a problem)0 -
Is this likely to be a problem?
Yes, as shared ownership are a lot harder to sell due to being over priced, extra conditions, extra costs, social housing neighbours etc.
Strongly recomend you keep looking.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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