The following pages will tell you how you can sell your shared ownership home. As a shared owner, you can sell your home whenever you want to, but because you don’t own the property outright, there is a special process to go through.
Under the terms of your lease, Coastline has a nomination period to find a buyer for your home. This period starts when we receive your notice of intention to sell your home and is usually either a period of 6 or 8 weeks as outlined in your lease.
Some homes may require buyers to have a local connection to the area, as you did when you made your initial purchase.
Some leases may include buyback provisions, if your lease does include buy back provisions and you own more than 80% of the equity in your home, then when you come to sell, Coastline, or another nominated housing association, will buy back the shares you own at the current market value.
During the nomination period you are unable to sell your home privately or through an estate agent, you will be able to do this once the nomination period is over.
Please note for leases dated from September 2008 onwards your lease will state that if Coastline Housing nominate a buyer that completes on your sale, you will pay Coastline a nomination fee. This is because we are acting as an agent to sell for you and we must recover the costs we have spent on our solicitors’ fees as well as the costs of finding and nominating your buyer.