Looking for a home

Selling your home

If you decide you would like to sell your home you must let us know, or ask your solicitor to do so on your behalf. The rules for selling your home are set out in your lease. When a property is sold, the lease is assigned to the purchaser.

When you are planning to sell your home, you need to instruct a solicitor who will deal with the conveyancing. You should get quotes from several solicitors to make sure you choose one who will offer you a reasonable price for their service.

Your solicitor will need a copy of your lease before they start work. They will be responsible for drawing up the contract for sale and liaising with your buyer’s solicitor to ensure that the exchange of contracts happens as quickly as possible. When your property is sold, the lease will be assigned to the purchaser and your solicitor will arrange for a copy of the transfer to be sent to us.

When completion is agreed the outgoing leaseholder must inform the company of the date of completion.

Your costs

When you sell your home you have to pay a number of costs.

In addition to any estate agent’s commission, you will also have to pay:

  • any mortgage payment due to your bank or building society;
  • your solicitor’s fee;
  • our solicitor’s fee (for transferring your lease to the new owners).

For details of our current fees, please download our Selling Your Home Legal Fees document.

We do not apportion service charges or ground rent following assignment of a lease, so any outstanding balances on completion of the sale will be transferred to the account of the new leaseholder. It is expected that arrangements will be made regarding any outstanding balances between the solicitors acting for both parties.

Right of first refusal

If you purchased your home under the Right to Buy scheme on or after 18 January 2005, and you wish to sell your home within 10 years, you will be required to offer it to either your former landlord or to another social landlord in your area at full market value.

If you are a shared owner you will be required to inform us in writing of your intentions to sell, once we have received this we usually have approximately 12 weeks to find somebody to buy your share from you, this is called the nomination period (please read through your lease carefully as it sets out the terms & conditions of the nomination period). We will examine our own waiting list for prospective buyers that are interested in properties in your area or request nominations from a Zone Agent or the local authority. We can also advertise the vacancy through the local press.

If we are unable to find a buyer, you can use an estate agent to sell your home once the nomination period has passed. You will be responsible for any estate agent fees.

An independent valuer’s valuation will decide the selling price and you will be responsible for the valuation fee.

You will need a solicitor and you will be responsible for their fees and other costs as referred to above in this section.

For more information please contact our Sales and Leasehold Adviser (details below).

Repayment of Right to Buy discount

If you bought your home under the Right to Buy you can sell your home. However, if you sell within the repayment period you will need to repay all or a percentage of the discount according to the length of time that has passed since the purchase. The amount you repay will depend on when you made your application:

If you applied after the 18 January 2005 and sell within 5 years of purchase:

If you sell within the first year of purchase, all the discount will need to be repaid. Four fifths must be repaid if you sell in the second year, three fifths in the third year, two fifths in the second year and one fifth in the fifth year. After 5 years, you can sell without repaying any discount. In addition, the amount of discount to be repaid if you sell within 5 years of purchase will be a percentage of the resale value of the property, disregarding the value of any improvements.

You will also be required to repay some or all of the discount you received when you purchased your home if you enter into an agreement to transfer your property to a third party in the future. The discount repayment is triggered from the date you enter into the agreement.

For more information please contact our Sales and Leasehold Adviser (details below).

Home Information Packs (HIP)

If you sell your home after 1 June 2007 you may be required to produce a home information pack (HIP) for prospective buyers, initially this will only apply to those that have a four bedroom property to sell.

A HIP contains:

  • an energy performance certificate which tells you how energy efficient the property is;
  • other compulsory documents, such as an index of contents, a sale statement, searches and evidence of title;
  • optional documents, such as the home condition report, legal summary and other documents (e.g warranties, guarantees or other searches).

As the seller you will be responsible for the cost of a HIP.

How will I pay for the pack?

This depends on the agreement between the seller and the compiler of the pack. Some examples of the ways that packs might be paid for are as follows:

  • seller pays for the pack upfront from estate agent, solicitor or pack provider;
  • seller compiles the pack and pays each organisation for the relevant component (e.g. the Land Registry for the title document);
  • estate agent offers the pack to the seller on a ‘no sale, no fee’ basis, where the cost of the pack could be included in the estate agent’s commission;
  • estate agent offers the pack to the seller on a ‘buy now, pay on completion’ basis, which is usually a credit agreement for 3 or 6 months between the seller and the organisation compiling the pack.

For more information please visit the Home Information Pack website.

Useful tips for moving on

  • change your address details with your bank, the Revenue and Benefits Department, your employer, and any other contacts;
  • you may wish to arrange for your mail to be re-directed;
  • let us know your forwarding address;
  • tell the Local Authority your new address and moving in date if you are receiving council tax or housing benefit;
  • contact the gas, electricity and water supplier to come and read the meters and register accounts in your name. You may also find it useful to take your own reading and check them when you get your first bill;
  • arrange contents insurance for your property.
Sales and leasehold team Department
Telephone: 01903 703 130 Hours of service: 9:00AM to 5:00PM