Getting My Shared Ownership Property Valued

Getting My Shared Ownership Property Valued

I have officially made the first step in selling my shared ownership flat after just over 6 years and I am both excited for the future but nervous about the whole process. A lot of other people within my building have sold their flats over the past year or two and I know the process can be quite long and not the easiest to do.

I want to document my whole journey as I can’t find too much info out there about shared ownership and if I can help anyone in the future going through the same thing I will be happy. The reason it’s a bit trickier is you have three parties to please as opposed to just you and the buyer. The housing association own a proportion of my property – 55% in my case – so they essentially outweigh me as I have less than half of the ownership of the property.

When I first made the call last week to start the process of selling I was told that I needed to get a flat valuation to confirm the current price of the property. This is the first expense that I’ve had to pay out for and the mounting costs are something I’m a little worried about but we’ll see how it goes. I contacted a few of their recommended surveyors as soon as my initial call was over as I wanted to get the process moving asap.

The surveyors I went with ended up costing about £220 for the survey which I think is pretty crazy but this is only my first experience at selling so I don’t know if this is normal. It was booked in for the following week with a pretty open 9-11am timing so I spent the whole weekend tidying, decluttering and sorting out the flat so it looked the best it could. I did some research online and it said surveyors look at the condition of the property and whether it’s in good nick so I made sure to look at all the little details and I have to admit the flat looked pretty immaculate.

On Monday morning the surveyor arrived in the allocated time but the whole process didn’t go as I had expected. He was only in the property for about 10-15 minutes and most of the time was either with a tape measure getting the floor plan, or sat down filling in paperwork. I don’t know if this is normal or whether it’s just because they know a lot about the building I’m in but he didn’t ask any questions about the property and he didn’t even know it came with a secure underground car parking space until I mentioned it, something which surely would have added value to the property.

Considering the fact that I had spent so long making it look nice the surveyor didn’t seem to look at the condition of the property, didn’t really take any images and just didn’t ask a lot. For example, the white goods including washing machine are included and I’m not sure if he knew that, he didn’t open the inbuilt wardrobe doors to see how massive the storage was etc.

As I write this post I haven’t had the valuation through so I am pretty nervous as this valuation is then what the housing association will put it on the market for. I know what other flats identical to mine have sold for in the past 6-12 months so I’m hoping it at least matches this.

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Getting My Shared Ownership Property Valued



  1. November 28, 2018 / 4:44 pm

    Good luck! I hadn’t even thought about what happens when you come to sell a shared ownership property so I’ll be following your journey with interest. I hope it goes well.

  2. Sam Jeffery
    November 28, 2018 / 5:28 pm

    This article was really interesting, with lots of information. Thank you for sharing your journey, I hope you get the valuation soon.

  3. November 28, 2018 / 7:57 pm

    This is such an interesting story to read! My husband is in real estate, but I had never heard the in-depth details of a shared-ownership sale. So many complications! Good luck!

  4. Kristine Nicole Alessandra
    November 28, 2018 / 9:49 pm

    Thank you for sharing your thoughts about this issue. I have not gone through this experience, but the information would be great to have on hand to share with others too.

  5. Fatima
    November 28, 2018 / 10:19 pm

    I haven’t bought my own property yet but I’m going to save this for future.

  6. November 29, 2018 / 2:04 am

    Shared ownership flat…hmmn…is it a Brit thing? Hope you get to sell it at your required price and take some money out to travel to your dream destination.

    • Rhian Westbury
      November 29, 2018 / 4:48 pm

      I’m not sure if it’s just a British thing, but it’s where you can own a percentage of your property and you pay rent on the other path. it’s a great way for people to get onto the property ladder x

  7. November 29, 2018 / 11:54 am

    Wow I never knew it was that expensive to have a surveyor! Fingers crossed you have had a good increase though, can’t wait to hear more of your updates.

  8. November 29, 2018 / 12:58 pm

    this is interesting, I hadn’t thought much about shared ownership as we just have a regular mortgage. I had no idea of the costs involved in a surveyor and valuation though

    • Rhian Westbury
      November 29, 2018 / 4:49 pm

      Yeah there are so many costs for it all, but I’ll be getting a regular full mortgage soon, eek x

  9. November 29, 2018 / 1:44 pm

    I know two people who have tried selling their properties that are shared ownership – One was left feeling deflated and just gave up. While the other was left out of pocket after everything. I really hope that it works out for the best for you x

    • Rhian Westbury
      November 29, 2018 / 4:49 pm

      Oh no that sucks for them! I know I won’t be out of pocket as mine has gone up a lot in value, it’s more getting through the whole process x

  10. November 30, 2018 / 8:33 am

    Kim keeping my fingers crossed for you. The whole sale and buying process can be stressful. surveyors fees are crazy money xc

  11. November 30, 2018 / 8:58 am

    I hope it all goes smoothly for you. it seems unfair that you have to pay for the full costs of valuations, surveys etc when the housing association owns more than you

  12. Everything beautiful
    December 2, 2018 / 1:33 am

    I hope the valuation comes out to be what or better than what you Hope it will be. Very useful post, can’t wait to hear it all

  13. December 2, 2018 / 8:47 am

    Congrats! You did something huge and risky but you did a great job!

  14. December 2, 2018 / 12:24 pm

    It may be a long process but I’m sure it will be worth it and I hope it really goes smoothly for you!

    Laura x

  15. December 2, 2018 / 12:40 pm

    I’m sure it’s a very good investment! Well done! Hope it all goes well for you.

  16. Elizabeth O
    December 3, 2018 / 7:47 pm

    I wish you all the best. Selling anything we own that is of value can be nerve wracking . Do keep us posted.

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