Shared owners

If you want to sell your flat, you will need to tell the Home Ownership Manager. Under the terms of your shared ownership lease Octavia has the right to nominate possible buyers. If we cannot find a buyer for your property within a certain amount of time (the so-called "nomination period," usually 8 weeks, the specific terms are in your lease), you can then sell on the open market.

Your property will need to be valued by a surveyor who is on our approved list. You will be responsible for paying the surveyor's fees for the valuation whether you proceed with the sale or not. We will send you the valuation and then you must confirm in writing whether you wish to sell. The nomination period begins when we receive your confirmation.

Remember that you will be responsible for paying our solicitor's fees as well as your own. You will also be charged an administration fee if we find a buyer for you. In addition, there is a charge for answering pre-sale enquiries from your buyer whether you sell through Octavia or on the open market.

Other leaseholders

If you are not a shared owner, you don't need to tell us that you are selling until you exchange. However, you will probably be asked to answer pre-sale enquiries from your prospective buyer. We will answer these for a fee (currently £150 plus VAT) and should be able to respond within 3 working days of receipt of your payment. These enquiries should be sent to the Home Ownership Manager.

Your buyer will be asked to sign a Deed of Convenant before Octavia formally consents to the assignment of the lease.