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Step by step guide to buying more shares

This step by step guide will give you an idea of what to expect if you decide to buy more shares. Our experienced team will be on hand to guide you through every step of the process.

Undecided if buying more shares is the right thing? Read: How to decide if it's right for you.

Before you start

Before you tell us you're ready to start, check your lease length, read the latest fire safety requirements for leaseholders and speak to an independent financial adviser to confirm you can afford the extra shares. If you don't do these things, you may encounter problems later on.

Step 1 - Valuation

Ask an independent RICS surveyor to write a valuation report. You pay them directly, and they send the report to you and us.

Getting a property valuation report

Our recommended independent RICS surveyors.

Step 2 - Home Improvements?

If you’ve made major home improvements, make sure you give the RICS surveyor details because this might affect the value of your home and what you pay for your share.

Step 3 - Your offer letter

You’ll receive an offer letter, with the cost of the additional share. Complete and return the Acceptance of Offer Form that comes with it. We’ll also need details of your solicitors and certified identification documents including a proof of name, address, photo and date of birth for each home owner.

Providing certified ID documents

Step 4 - Instruct a solicitor

Instruct a solicitor as soon as possible and provide them with all of the required paperwork, so they can answer questions from our solicitor and keep things running smoothly. We’re here to make sure the transaction goes as smoothly as possible and ensure you complete your purchase by the valuation expiry date.

Our recommended solicitors

The legal steps to buying more shares

Step 5 - Completion

Make sure your mortgage funds or savings are ready on the completion date.

 

Ready to start?

If you’ve read this step by step guide and are happy with the process, let’s get started! You’ll need a SO Resi account to access the Buying more shares section.

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