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Selling your home
If you're thinking about selling your home, or you want to add or remove someone from the ownership of the property, we can help you with that.
For shared owner, leaseholder or freeholder, you will need to contact Conveyancing@sanctuary.co.uk and we can advise you the procedure for this once we have reviewed the terms of your Lease/transfer and advise of any costs involved for the change of ownership or assignment.
What is the process of selling my home?
- Before deciding to market your property please contact Sanctuary conveyancing team and we will provide you with the procedure to sell your home.
- We strongly advise you await the procedure, as the terms of your ownership may require that the property is advertised through different channels i.e. help to buy website, with the local authority or keaze (for london homes).
- Once we provide you the procedure, subject to the above requirements, you will be able to advertise your property.
- Once you have found a buyer, and agreed a sale, you or your estate agent will need to contact the legal assistant who provided you with the procedure so that we may commence the process of approval/eligibility (if applicable).
- For shared owners, the buyer must meet the eligibility criteria as set out by the capital funding guide. We must ensure as registered provided that the buyer can afford the property and is eligible within the guidance set out by the capital funding guide.
- An application (if applicable) will be sent to your buyer by the conveyancing team. The buyer will need to provide bank statements, payslips and other supporting information as maybe requested to review their eligibility for the property.
- They may also need to have an interview with a scheme manager (for our private retirement schemes and leasehold schemes for the elderly.
- Please note that this process can take up to a month as its ten working days for the initial review of the buyers application and supporting documentation, and if the buyer has missed information or if we need further evidence based on initial review, we will not be able to proceed further and approve the buyer until the information/evidence has been provided.
- Subject to the buyer being approved, and approval of their mortgage offer by Sanctuary, you will be able to commence your legal process with your solicitor and the buyers solicitor.
- If the buyer is not approved we will provide information on the reasons to the buyer, this could be to do with their affordability of the property, planning conditions, or unsuitability for the scheme.
- Once the buyer is approved by Sanctuary, your solicitor will contact us to provide confirmation of the approval and a leasehold information pack. The cost of the leasehold information pack is £68.40 and we provide this within ten working days. We would advise this is requested from the outset of the legal transaction.
- Your solicitor and the buyers solicitor will progress the legal transaction and possibly raise enquiries with each other or for Sanctuary, we will aim to respond to enquiries within five working days but please note this may take longer if we await information from different departments and is also subject to the complexity of the enquiry.
- Once your solicitor has satisfied the buyers solicitor of their enquiries then they will need to set a date for completion.
- We must be advised of the advised of the completion date ten working days in advance so that we can prepare and provide the completion statement to your solicitor which will provide the apportionments of rent/service charge.
- Once completion has taken place, your solicitor and the buyers solicitor will send Sanctuary notice of assignment and any rent/service charge and fees due to Sanctuary.
- On receipt of the notice and fees from both sides we will aim to update our internal departments of the assignment.