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Shared Ownership Question
amaquima
Posts: 13 Forumite
I can see there's a lot of hate towards SO around here, but I have a question.
My husband and I were looking into getting a SO flat, we went to view it last Saturday and I got in touch with the HO on Monday, who didn't seem to know the flat was for sale and told me the valuation was out of date. They still put me in touch with the Financial Advisor whilst they dealt with the valuation so I sent out my documents yesterday when I also booked another viewing. But today I received a call from the Estate Agent telling me that they had received an offer from an elderly couple who wanted to buy the 100% of the property and since they didn't want to fork out the £350(!!!) for the valuation, they were going to go with the offer the couple made them.
Now my question is, can they actually sell it without having an up-to-date valuation? Whether it's sold as a SO or as a normal property, wouldn't they need an up-to-date valuation, after all the HO owns 60% of the property and I'm sure wouldn't want to be out of pocket?
My husband and I were looking into getting a SO flat, we went to view it last Saturday and I got in touch with the HO on Monday, who didn't seem to know the flat was for sale and told me the valuation was out of date. They still put me in touch with the Financial Advisor whilst they dealt with the valuation so I sent out my documents yesterday when I also booked another viewing. But today I received a call from the Estate Agent telling me that they had received an offer from an elderly couple who wanted to buy the 100% of the property and since they didn't want to fork out the £350(!!!) for the valuation, they were going to go with the offer the couple made them.
Now my question is, can they actually sell it without having an up-to-date valuation? Whether it's sold as a SO or as a normal property, wouldn't they need an up-to-date valuation, after all the HO owns 60% of the property and I'm sure wouldn't want to be out of pocket?
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