A Shared Ownership Valuation is required if you bought a home using a shared ownership scheme and now wish to EITHER sell your share in the property OR purchase more shares in it (called ‘staircasing’).
When equity in a house is split, ownership is usually shared with a housing association. Different housing associations have slightly different rules when it comes to selling or buying a bigger share (‘staircasing’). However, most housing associations will require an independent valuation from a RICS Registered Valuer to ascertain the market value of the property. The market value is then used to set the sale price for the property (and the value of the respective shares) or, in the case of staircasing, the market valuation establishes the cost of purchasing more shares in the property.
Depending on the housing association and the reason for the valuation, home improvements that you have made during your period of ownership may or may not be taken into account when assessing the current value of your home.
Stephen Michael Surveying provides Shared Ownership Valuations across Norfolk and Norwich. For a fast, free, no-obligation quotation, please Contact Us.
As a RICS Registered Valuer, I am able to provide Shared Ownership valuations in the form required by your housing association.
An expert on the Norfolk property market, I am able to provide timely and accurate valuations. Housing associations set very strict criteria for Shared Ownership valuation reports and will reject non-compliant reports. I have a 100% acceptance rate.
The valuation inspection typically takes around 1 hour and valuation reports are issued no later than 3 working days after the inspection.
The cost of a Shared Ownership valuation depends on the type and size of property but is typically between £299 and £349 (no VAT to pay).
For a fast, free, no-obligation quotation, please Contact Us.
