Selling a shared ownership property

[Myturnatlast]

Has anyone done this and how easy is it?

I've got a 50% share in my house and am hoping to move in about 18 months for a number of reasons but wondered how easy it would be, how long it would take, what costs are involved & if I'd get market price?

Thanks!

Who owns the other share? A housing association? If so, I would get in touch with them and ask to talk to their sales department. They should be able to have a chat about the process and about typical timelines.

We sold a 40% share recently and it was surprisingly straight forward and speedy, (buyer secured within a week of advertising), but we did live in an expensive and popular area with a lot of demand for housing. Your original contract should include details about the process for selling, and if you’ve ever staircased some of it will be familiar. The house was valued by a rics surveyor, at our cost, and that was the price, full stop. We felt it was fair. For the first eight weeks the housing association had the right to market it to their list of eligible buyers. They behaved more or less like estate agents but charged less. If it hadn’t sold by then we would have been free to engage an estate agent of our choice, at our cost, and attempt to sell the whole house on the open market, which would then have been open to price negotiations like any other property.

If the other share is owned by a employer or a different body they might go about things differently to a HA - perhaps not having an in-house sales team for example - but I’d still start by chatting to them about what to expect, and looking up your original contract.

Thanks so much @SilenzioBruno it is a housing association who own the other half but they're RUBBISH at answering phones or replying to emails so I thought I'd get some real life experiences, which is exactly what you've given me, and very reassuring. Thank you

You’re welcome. Fingers crossed that when they understand you want to sell, the sales and marketing teams will be much better at communicating with you!