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Selling your home
The processes you need to follow if you want to sell your home.
How you go about selling your Peabody home will depend on whether you bought through the shared ownership or home equity scheme, right-to-buy, right-to acquire or voluntary purchase grant.Peabody sales website - About Shared Ownership
Shared ownership and home equity leaseholders
Please write initially to our Residential Sales team, as there may be a clause in your lease which allows us to find a buyer who meets the shared ownership conditions. Most leases give us eight or 12 weeks to find a buyer. If we cannot find someone within that time, you can seek a buyer yourself.
You must sell your home at the open market value. Your share of the sale price is the same as your percentage share of your home – so if you own 50% you collect 50% from the sale – less costs. We keep our share of the lease, until it is bought by the leaseholder.
Right-to-buy, right-to-acquire and voluntary purchase grant leaseholders
When you buy under one of these schemes you receive a discount on the purchase price.
If you sell within three years of the date you bought your home, you are obliged by law to pay back all or part of the discount – all of it if you sell in the first year, one third in the second year, and one third if you sell within three years.
If you sell after three years you do not have to pay back any discount. If you experience a delay in selling your home, tell us as soon as possible and we will recalculate the time since you bought and adjust the amount you need to repay accordingly. The "For sale" or "To let" signs can only be displayed with our permission.
We will not unreasonably withhold permission, but the sign must not be attached to the building and it must be removed after the sale has been completed. Your solicitor will need information from us before the sale. It will take some time to collect this, so you should ask your solicitor to write as early as possible.
Management information pack
We provide a management information pack to assist with your sale (there is a charge for this service).
The pack will include the following:
- statements of your accounts
- major works planned to your block/estate
- details of any invoices due to be billed
- asbestos/fire risk reports
- any other information relevant to your estate