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Shared Ownership selling question
footballhater
Posts: 15 Forumite
I own 50% of my 3 bedroom house and pay rent on the remainder to a Housing Association.
As both my children have moved out recently I am looking to downsize and buy a smaller property outright, hopefully.
The property was recently valued and has increased by 50k since the last valuation, so my question would be when I sell, do I get 50% of the value of the house now, and do the HA also take a percentage of that profit.
I realise this is a question I should be asking the HA, but just wondered if anyone has sold their SO property recently, and could share their experience?
As both my children have moved out recently I am looking to downsize and buy a smaller property outright, hopefully.
The property was recently valued and has increased by 50k since the last valuation, so my question would be when I sell, do I get 50% of the value of the house now, and do the HA also take a percentage of that profit.
I realise this is a question I should be asking the HA, but just wondered if anyone has sold their SO property recently, and could share their experience?
0
Comments
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You own 50%. You receive 50% of the total value at sale.
So, yes, if it's gone up £50k, that's £25k more for you.0
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