Selling your home

If you wish to sell your share in the property, you will need to write to Stroud District Council to inform it that you wish to sell your share and request an assignment of your lease.

Under the terms of your lease Stroud District Council have 8 weeks to find a buyer for your home.  If, after the 8 weeks, it is unable to find a buyer, you can sell your share in your home through an estate agent in the normal way and you will be responsible for paying the estate agents fees. If your property is sold through an estate agent, it is important that they put the following information on the sales particulars:

• All potential purchasers are required to meet the following criteria:
  
  • Their household earns £80,000 a year or less
  • They are a first-time buyer or an existing shared owner or
  • If they are an existing home owner, they may need to demonstrate that they are in housing need and have the support of their local authority
  • Have access to savings of approximately £2,500 to cover their fees as well as savings towards the mortgage deposit

The price you sell your share for will be based on the market value at the time.  Like any home, the value can rise and fall along with the housing market.