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Our step by step guide to selling your home

We hope that this step by step process will give you an idea of what to expect if you decide to sell your SO Resi home. When you get in touch our experienced Resale team will be on hand to guide you along the process and give you details at each step.

  • Step 1: Get your home valued - You need a written valuation report from an independent RICS surveyor. RICS is the Royal Institution of Chartered Surveyors. You pay your appointed surveyor directly and they send the report to you and us

  • Step 2: Find your Energy Performance Certificate (EPC) - You will an Energy Performance Certificate (EPC) before you can sell your home. They are valid for 10 years so if you received one when you bought your home, it could still be valid. You can search for it on the EPC register here

  • Step 3: Tell us you want to go ahead - To do this you will need to sign the ‘instruction to sell’ form that we will give you. We also need proof of identity for all legal owners before we can sell your home. If we don’t sell your home in 8 weeks, you can choose to sell it on the open market. If you do this, there’s no sales fee to pay to us but there will probably be estate agent fees to pay instead

  • Step 4: We find you a buyer - We’ll start by appointing a SO Resi resales consultant to look after your sale and answer your questions along the way. We will take care of marketing your home and financially assess applicants before they view your property. If a potential buyer wants to go ahead we will check through their application to make sure they are eligible.
    Read our guide to preparing your property for viewing.

  • Step 5: Your home is sold! - Once there’s an approved buyer for your home, solicitors are appointed and work towards completing the sale

 

How much does selling my home cost?

Here is a breakdown of typical costs:

Sales fee

1% plus VAT of the full market value of the property

RICS valuation report

From £175 including VAT

Your solicitor’s costs

Around £1000 plus disbursements plus VAT

MTVH lease enquiries fee

£150 plus VAT. The Leasehold Management pack provides answers to all the standard leasehold enquiries raised during a sale. The cost is included within the sales fee. Any additional enquiries are charged at £50 +VAT

Managing agent enquiries fee

There is also a fee if your solicitor needs a managing agent to respond to enquiries. Ask the managing agent to confirm the costs for responding to enquiries

Notice of assignment and charge

 £50 plus VAT

*If the SO Resi team cannot sell your home and an agent sells your share, a £250+ vat processing fee is payable to SO Resi on completion.

How long does it usually take?

We have eight weeks or the nomination period detailed in your lease to sell your home, from the day we start marketing. Most homes sell in this time. If not, you can:

  • Ask us to keep marketing your property until we find you a buyer

  • Find your own estate agent to sell your share or 100% of the property. If an agent sells your share, a £250+ vat processing fee is payable to SO Resi on completion.

Read our Time To Sell pdf guide

Got a question?

Your lease says that we have 8 weeks to find a buyer for your home. If we can’t do this, you can sell your home on the open market, through an estate agent.

It’s a good idea to wait until your own home is under offer before looking for a new one – we don’t want you to be disappointed.

Can I sell my property for more than the RICS valuation amount? + -

Your lease says that you can only sell your share for the value set by a RICS surveyor. If you want to sell it for more, you will need a valuation report from a RICS surveyor to confirm the higher amount. If we don’t find a buyer in 8 weeks you can sell on the open market for any amount, as long as you pay Metropolitan Thames Valley Housing the RICS valuation of our share.

What if the time left on my So Resi lease is under 80 years? + -

If your lease is below 80 years it may affect your chances of selling. To find out whether you can extend it, call your property manager on 0300 456 2929

Why do I need an Energy Performance Certificate (EPC)? + -

It gives buyers an easy way to see how energy efficient your home is, how it can be improved and how much money this could save. It is a legal requirement to have a valid EPC before selling your home. They are valid for 10 years so if you received one when you bought your home, it could still be valid.

What if I have made improvements to my home? + -

We do not consider improvements made to the property in the sale price. The property is sold as seen - so the property value includes all the work done.


Ready to take the next step?

By email: resales@soresi.co.uk

By phone: 020 8607 0550

By our contact form

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