Jump to content
House Price Crash Forum

Bypassing Housing Association When Selling

Recommended Posts

I was wondering if anyone can help with some advice about selling a shared ownership flat.

I'm about to start the ball rolling with selling the 30% share I have in my shared ownership flat. The basic procedure as outlined by the housing association I bought the share from is that I get a market valuation first, then instruct the housing assoc. to sell at that valuation whereby they take a percentage commission from managing the sale. As many people going through this process have found, the market valuation given by the independent valuer is generally much lower than what they can get on the open market/ through a real estate agent.

The housing association has around 8 weeks to sell the flat and if they can't find a buyer in that time the owner can choose to sell through a real estate agent at any value they can get.

When the valuer viewed my property recently, he briefly mentioned that some leaseholders of shared ownership property have started bypassing the housing associations 8 week period and going directly to a real estate agent to sell their share, finding a buyer and selling their percentage and only afterwards notifying the housing association once they have completed, which is understandable as what they could get through a real estate agent compared to the flat market value is often dramatically different (as it would be in my case)

my question is, if someone was to go down this route, what are the legal implications (if any)? And at what point would you tell the housing association? Once the buyer has already completed the sale of the share or just when he/she has put in an offer for example? Depending on whether I go through the housing association or risking it and bypassing their 8 week period to sell could mean a dramatic difference in what I make from the property. Going by the market valuation I received I think the property will be snapped up very quickly (it's in London btw)

If anyone has any first hand experiences of this I'd be very interested to hear of any pitfalls or issues around doing this. I've not found anything researching it on the internet and of course the housing associations aren't going to tell you anything so any advice would be greatly appreciated!

Share this post

Link to post
Share on other sites

Why don't you ask the estate agent?

Thanks for getting back. I have but I'd like to hear any first hand examples from leaseholders, my main concern is what repercussions there might be re getting sued etc and it would be likely the leaseholder that gets into trouble rather than the estate agent

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   212 members have voted

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.