Selling a Shared Ownership Home

As a shared owner, you may decide that you wish to sell the share in your home. The lease that you have with Tamar explains how this is done. This page aims to summarise the relevant information for you.

How do you start?

The first step if you are interested in selling your home is to inform Tamar of your plans in writing. You can do this by clicking on the quick link on the right of this page.

The valuation

We will need to have an independent valuation undertaken by a surveyor. The surveyor must be qualified and a member of the Royal Institute of Chartered Surveyors.

Tamar can arrange this or you can appoint a surveyor yourself. If you would like details of some valuers, please contact the office. You will have to pay for the valuation which must be addressed to Tamar. This cost will have to be paid even if you later decide not to sell.

The valuation sets the fixed price at which your home can be sold for and ensures a fair price for the property for the buyer and seller.

Confirmation to proceed with the sale

If we have arranged the valuation, we will send you a copy of the valuation report as soon as it is available. If you wish to proceed with the sale, you must write to us authorising us to proceed.

Once we have received confirmation that you wish to sell we will prepare a sales sheet to market your property. You should supply us with details of your property in order for your marketing information to be prepared. These should include;

  • Photographs (both internal and external) ideally in an electronic format
  • Information regarding local amenities
  • Details of the council tax banding

On receipt of these details Tamar will advertise the property on their website and on the local HomeBuy Agent’s website.

Marketing your home

Once Tamar has received a copy of the valuation report, from the valuer we have a period of time (six to eight weeks depending on your individual lease) to find a buyer for your share. There is often a waiting list for shared ownership homes so normally there are buyers out there who will be interested.  You will be responsible for showing people round your home. Please refer to your lease for more information.

During this period, Tamar has sole agency rights (you can not use another estate agent). If we do not find a purchaser within six weeks you are entitled to find a buyer yourself. However, Tamar reserves the right to approve your purchaser and must give formal written approval even if you are selling 100 percent of your home. You must have ensured this approval is in place before agreeing to sell.

Negative Equity

If the value of your home is now less then it was when you bought your shares, you may be in negative equity. In these circumstances, if you wish to sell your home you would have to pay your lender the difference between the outstanding mortgage and the proceeds of the sale.


Tamar will charge you a fee of one percent of the value of your home for administering the sale. If you use an estate agent after six weeks, you will also have to pay their fee.

A condition of you selling your property is that you do not owe Tamar any money. Therefore, you must ensure that your rent account is up to date and that any outstanding charges are paid.

Mortgage Arrears

If you are in arrears with your mortgage, it would be advisable to inform Tamar and to check with your lender whether they will allow you to sell your share.

How long will it take?

As a guide it usually takes about three months to sell a property. However, this will depend on a number of issues including whether there is a chain and how long it takes to obtain a mortgage offer.