The rules for selling your home are set out in your lease, which outlines the procedure to be followed and Viridian’s policy. It is important you follow these procedures to reduce any delays in processing your sale.
An Energy Performance Certificate (EPC) will be necessary in order to sell your property. Sellers will be required to commission and EPC, but won't need to have received it, before marketing their property. This means that you must have instructed an accredited energy assessor to carry out an energy performance assessment before we can start to market your property. Find an assessor.
If you want to sell your home, we will arrange to have it valued by a Royal Institute of Chartered Surveyors (RICS) qualified valuer. who we will instruct to carry out a valuation report for you. You will be responsible for arranging a convenient time for the valuation to take place and for paying the valuer’s fees.
The valuation is only valid for a certain period of time (usually 12 weeks), after which the valuation will need to be reviewed. This will involve obtaining an updated valuation letter from the original valuer, for which there may be a charge. Alternatively, you may request a new valuation, although this may be a more expensive option.
A copy of the valuation report will be sent to you to be reviewed before we begin the process of marketing your property.
Your lease contains a nomination period, which is normally eight weeks and is similar to a ‘waiting time’. This means that once you tell Viridian that you wish to sell your home, and you have served the correct notice on us, we then have an obligation under the lease to find a buyer for you. Only after this period can you put your property on the market with a local estate agent. If you try to market your property with an estate agent before this period is complete, you may be breaching the terms of your lease and you will be unable to proceed. This may further delay your sale.
If you decide to sell your property, you must complete and return the RS2 form, and later the RS6 form to confirm your acceptance of the sale. The nomination period starts when we have a copy of your valuation, your completed RS6 form and confirmation that you have instructed an EPC.
In the nomination period we pass information about your home to the Homebuy Agent who may suggest a list of potential purchasers according to the criteria we give them – this includes the price and type of property. We advertise your property on the Homebuy Agent’s website. We will also do this on our own website, providing your contact details for potential purchasers to contact you directly to arrange a viewing. We’ll also provide our details in order to answer general queries about the purchase process and shared ownership.
Once someone expresses an interest in buying your property, we will assess them to ensure they meet the eligibility criteria for shared ownership and that they can afford to purchase your property.
If they are successful, we will make a formal offer of the property to the purchaser and set them a timescale for the sale. We also issue the memorandum of sale with all parties details included to get the legal ball rolling.
If we are not able to find someone suitable to buy your home within the nomination period, you will have a few options. You can instruct us to continue marketing, instruct an estate agent or both. If you choose to sell via an estate agent, Viridian will still undertake part of the process for which you will need to pay a reduced fee.
When you sell your home, the following costs fall under your responsibility:
You should check to make sure you will have enough money to cover all these costs before starting the process.
This depends on how quickly both you and your purchaser drive the sale/purchase. We estimate that the process takes around three months once you have found a buyer. However, this process may take longer.
You are responsible for paying rent and service charges until you leave your home. If you pay any extra money during the month because your completion is happening in the middle of the month, your solicitors may need to assist you with this process and arrange for a refund based on the apportionments calculation on the day of completion. You should speak with your solicitor about this. In the case your account is in credit at completion, we will arrange for a refund to be sent to you directly at your new address which we will ask you to supply.