Shared Ownership Valuations
Shared Ownership Valuations in Cheshire
We carry out RICS shared ownership valuations for clients across Middlewich and surrounding Cheshire towns, including Northwich, Sandbach and Winsford. Our reports are accepted by housing associations and meet the latest staircasing and resale requirements.
What is shared ownership?
Shared ownership homes have become increasingly popular and are a good way of providing affordable housing. If you purchase a shared ownership, you can buy more shares in your home after you become the owner. This is known as ‘staircasing’.
How staircasing works
When you buy more shares, you’ll pay less rent. You can usually buy shares of 10% or more at any time. Some older leases only allow you to buy shares of 25% or more. Some newer leases will allow you to buy shares of 5% or more.
If you are looking to staircase, you’ll need to pay for a valuation by a surveyor who is registered with the Royal Institution of Chartered Surveyors (RICS). Your landlord will let you know whether they’ll arrange the valuation, or you need to arrange it yourself.
If you decide to buy more shares, you must buy them within 3 months of the valuation date, or the home will need to be revalued.
Selling your shared ownership home
You can sell your shared ownership home at any time. You must get a valuation by a surveyor who is registered with the Royal Institution of Chartered Surveyors (RICS). The sale price of your home will be based on this valuation.
If you do not own 100% of your home, you must tell your landlord when you want to sell. This gives the landlord the opportunity to find a buyer for your share. If the landlord does not find a buyer within the nomination period, you can sell your share yourself on the open market.
How we help
Whether you are selling your shared ownership property or buying further shares in it, we can provide your valuation quickly so you can make an informed, confident decision armed with all the facts.
Frequently Asked Questions
Do I need a RICS valuation to staircase or sell my shared ownership home?
Yes, housing associations and landlords require a RICS valuation when you staircase or sell. This ensures the value is fair, impartial and based on current market conditions.
How long is the valuation valid for?
Valuations for staircasing or sales are valid for 3 months. If you do not act within that time, the property must be revalued before proceeding.
Will you send the valuation to my housing association?
Yes, we can send the report directly to you and your housing association, depending on your preference. We’ll make the process smooth and hassle free.
