Selling your
Shared
Ownership
property

Before looking for a new property your current home should be under offer to avoid disappointment. Curo will make every attempt to sell your share as soon as possible. However, we cannot confirm the time it will take to nominate a buyer.

We understand that some customers may find an onward purchase during the initial marketing process and may hope to accelerate certain steps as a result. However, we’re unable to expedite the valuation or marketing stages on an individual basis. We operate within fixed service agreements with our external valuers, and our internal processes have already been streamlined to the most efficient timeline achievable. Each resale is managed in order, and to ensure fairness, we apply the same timeframes to all customers, many of whom also have time sensitive situations.

It’s important to be aware that the resale process is structured with the expectation that a buyer will be secured before you commit to an onward purchase. Entering into a purchase before being in a proceedable position can create pressure to meet timescales that fall outside of what we are able to deliver. While we understand the urgency this may create, we are unable to adjust the process to accommodate these situations. We appreciate your understanding as we work to support all customers fairly and consistently.

When you decide you would like to sell the shares you own in your property, or staircase and purchase additional shares in your property, a valuation will need to be carried out on the property. The valuation will determine the price at which you can sell the shares you own or purchase additional shares.

As Curo Places Ltd is a non-profit organisation, we have a vigorous procurement process to enable suppliers to work with us. We only have one RICS qualified surveying firm that has passed all these checks to date and so it will be them, who would carry out your valuation. The cost of which will be reflected to you (please check with the sales team what the current cost is).

A RICS qualification is a requirement of the valuer who values your Shared Ownership property as per the terms of your lease. RICS valuers are unbiased and will provide an accurate current market valuation. We cannot take estate agent valuations into account as they can, sometimes, inflate the valuation figure in order to secure your business and therefore they cannot be considered as an accurate valuation.

Sadly, we are unable to carry out viewings on your behalf due to our wide geographical operating area. This means that you will be responsible for carrying out all viewings, once prospective buyers have been qualified.

When selling a Shared Ownership property and a buyer is found (buyer purchasing less than 100%) they must meet the eligibility criteria to purchase a home through the Shared Ownership scheme. They will have a detailed financial assessment with a mortgage broker to assess affordability. Assuming they do and they want to proceed, the next step is for both you and the buyer to begin the conveyancing process.

You will need to appoint a solicitor to handle the legal transaction on your behalf. Charges can vary, so it’s a good idea to do some research. If you’d like assistance in finding a solicitor, we’ll be happy to connect you with solicitors who have experience in Shared Ownership.

Once all legal work is complete and both parties are satisfied, you’ll need to set a completion date. On completion day, arrange a time to meet your buyer to hand over the keys (Curo do not hold keys for your home so we are unable to carry out completions). Your solicitor will notify you once the official completion has taken place. Please do not hand over the keys until you have received this confirmation.