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Selling shared ownership?
WLITC
Posts: 1,029 Forumite
Hi all, can someone elaborate on the process of selling a shared ownership property. I know if I want to sell I have to give the housing association 8 weeks first dibs on trying to sell my share. However what happens if it does sell? Do I sell my 'share' on the open market or do I automatically get the right to sell 100%? I understand there is a process where you can basically increase your share to 100% on the day the sale goes through allowing you to effectively sell the property outright? I had heard about that but thought that might be the exception and complicated but then I saw a YouTube video the other day and it seems like thats standard?
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I think it might on the housing association or who part owns your house as to what the actual process is. When I sold my shared ownership house my housing association was very relaxed about the whole thing. They did advertise internally and after a week or so I was given the green light to put it on the open market.0
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