Has anyone sold a shared equity property?

[Treadlightly]

We're trying to sort out selling out flat which we bought under the key workers scheme with 25% shared equity.

Has anyone done this?

We have requested one of their approved surveyors to value the flat.
I was wondering what would happen if they valued it at a very different price to the estate agent?

I've read all the blurb & it's not very clear. I'll phone them on Monday & we will get a solicitor ASAP but I was just wondering if anyone had done it recently & had any advice ( or tales of woe!!)

Yes, I sold mine last year.

The valuer asked me what I'd paid, how much work I'd done and cost of that work, and then have a valuation range rather than a specific figure.

I had a range of estate agents over and they were all within the same range (other than Foxtons).

The process was all fine. The only frustrating bit was being ready to exchange but the housing association not having done their bit of the paperwork by the deadline they had set .

Thanks eeyore, yep I remember from when we were buying they were very slow!

I guess we'd only have a problem if they said it was worth more what we manage to sell it for.

Yes, I was worried about that but because I was given a range it worked out fine. I had the bottom of the range as my minimum price, and rejected all offers below that. I was lucky in that I was selling a flat in London so the prices were quite buoyant.

If I remember correctly, if you sell below then you'd have to pay them the difference. This matters less is the price of the property has still gone up, as it means you take less of a profit, but don't make an actual loss.