Selling Your House

There are certain conditions to selling a home which you have bought under the New Build HomeBuy scheme. Below are the answers to some of the questions we are most commonly asked.

• How long will I need to own a share of the property before I can sell up and move on?

In most cases 12 months. You will need to check your lease or ask Muir Group

• How will the amount I own be calculated when I come to sell? Will my subsequent investments in the property be taken into account?

You will need an Open Market Valuation which will take account of any improvements you have made. The sale price will then be based on the percentage you own eg 50% of the valuation figure

• What happens if the value of the property has increased during the time I have owned the property?

Who receives the profit? You will benefit from any increase in valuation on the share you own

• Who arranges the valuation? Who pays for the valuation?

You will. You will need to use a qualified valuer who is either an Associate or Fellow of the Royal Institute of Chartered Surveyors.

• Will being able to sell depend on Muir Group or me finding a buyer, or do I sell to Muir Group?

Muir must be given the opportunity to nominate a purchaser, and in some cases the option to buy back the property, within a set time period (check your lease). If no one is found you may proceed to sell on the open market at a price based on the open market valuation.