Selling Shared Ownership

JHodkin20

Currently have a 50% shared ownership house which is on the market. Aspire Housing (Cerris Homes) own the other 50% and told me from the outset that no RICS valuation was required for me to sell my share. My estate agent came up with a valuation and we have used this to market the property.

I had someone view today who used to be an estate agent and she was adamant that me getting a RICS was mandatory.

Can anyone clear up whether I need to have a RICS valuation or not? 

I have it in writing on several occasions from Cerris Homes that one is not required so if I find out that one is, can I take any action action them for providing false information and stalling my sale process?

TIA.

gwynlas

According to gov.uk selling shared ownership either yourself or landlord pay for RICS valuation which it says you must have.

JHodkin20

gwynlas said:

According to gov.uk selling shared ownership either yourself or landlord pay for RICS valuation which it says you must have.

That's the same as I'm finding online. To quote my housing association,
 "under the terms of the capital funding guide, resale valuations are no longer required to be assessed by an independent surveyor who is a member of RICS"

But ecen after I've looked through the capital funding guide on the gov.uk site, I still can't find anything that says the above is the case!

MarLonIc

A RICS valuation is a requirement for the buyer to get a mortgage (and the lender to give one). Unlikely, for the affordability requirements/constraints typical of this scheme, the share will be sold to cash buyers.