Selling your affordable home

Thinking of selling?

You may sell your affordable home at anytime if you own it, but you must first notify the Council in writing of your intention to sell and the Council are responsible for setting the sale price, should there be a price restriction.

Shared Ownership homes are usually provided by housing associations, so if you want to sell, you should go directly to the housing association who you pay your rent to. They will arrange to market your home through the Help To Buy agency.

For all other kinds of affordable housing for sale, you should follow this guidance.

Many affordable homes are subject to a s106 Planning obligation. This is a legal agreement which usually specifies who would qualify to buy your home, and at what price. Before doing anything else, you should check these requirements in your s106 agreement. For more about this, please see the bitesize guide: Understanding your s106 Agreement (including updating your s106).

In most cases, your Section 106 agreement will require you to agree an advertising scheme with the Council.  Your home will need to be advertised through the Help to Buy agency, online using Rightmove/Zoopla, and we would encourage optional forms of advertising including social media, local advertising (i.e. shop windows, local newsletters etc.).  Any potential purchasers identified through yourselves/estate agents will be assessed by Help to Buy South West to ensure they meet the requirements of your Section 106 agreement.

This is a Government-appointed agency responsible for marketing affordable homes, and for keeping a register of potential buyers. Help To Buy offers an estate agency type service, the cost of this is covered by the Council and so there is no charge for you.

We require your affordable home to be advertised online using Rightmove/Zoopla.  This can either be through an estate agent who will provide additional services such as in store advertising, advertising in the local papers and directly to people on their mailing list as well as providing an advert online, or you can choose to use an online only agent/advertising company.

Please provide 1 chartered surveyor valuation (must be RICS registered) OR 3 x valuations from local estate agents (should the 3 local agent valuations be used we will take the average, if they differ.  Where a range is given we will use the mid-point).  We also carry out our own in-house checks to ensure the valuations are in line with comparable sales in your area and we may request additional valuations should we feel that any are outside of the expected range.  We cannot accept valuations which refer to anything other than a clear ‘open market value’ so please ensure your agent is aware of this requirement as any valuations that refer to ‘asking price’ ‘marketing price’ etc will be returned to you.

You will have to pay a Surveyor for an open market valuation. You will need to find a solicitor and pay legal fees. You may have to pay for advertising fees through an agent or online advertising.

  • Obtain your s106 agreement
  • Obtain a red book open market valuation from a RICS (or equivalent) chartered surveyor OR 3 x local agents valuations
  • Take some photographs
  • Complete a Sales Notice/Request To Advertise Form
  • Send all of this to the Council
  • Calculate and agree the sale price
  • Instruct the Help To Buy Agency
  • Market you property on their website/social media
  • Inform your local Parish/Town Council that the property is on the market
  • Send a mailshot to registered buyers
  • Check that an interested buyer qualifies, can afford it, and can go ahead

Your s106 agreement is usually kept with the Deeds of your home. For more information, see our other Bitesize Guide Understanding your s106 Agreement.  If you cannot find a copy you can request one by emailing planning@cornwall.gov.uk -there will be a charge for this service.

Fill in the Sales Notice/Request To Advertise form and send this along with your RICS valuation, photographs, Section 106 agreement and evidence of your resale percentage to:

By email: affordablehomeownership@cornwall.gov.uk

By post:

The Affordable Home Ownership Team,
Cornwall Council,
New County Hall
Truro
TR1 3AY

All of the information on this page can be downloaded in the bite-size guide to selling your affordable home.