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Residential Shared Ownership Valuation

The Challenge:

A residential buyer in Melton Mowbray had applied for a Shared Ownership Re-sale as part of a retirement living scheme. The property needed to be valued under the current RICS Chartered procedures, to enable a prospective buyer to own a share of it and to pay rent on the remaining share until they are in a position to buy it.

The Solution:

Understanding the legalities and implications of this type of sale was crucial for us to deliver an accurate valuation under the retirement living scheme. We produced a realistic open market valuation of the property concerned using our knowledge of the area and our experience of the current house price market, which satisfied all parties and complied with the Scheme.

We have used Acorn Surveys & Valuations for many years, as we know they will always provide us with excellent service and quick and accurate valuations. This is a competitive industry and we know Acorn won’t let us down said Peter Astill of Peter Astill Solicitors.

The Outcome:

The property was successfully sold on the open market in Melton Mowbray having been specifically marketed to older people searching for a house within a Retirement Living Scheme. Specialist schemes like this enable many more people to enjoy their own home, well into retirement and we welcome enquiries from other areas of Leicester and Nottingham who are seeking a more inclusive approach to the current housing needs of their communities.

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  • Acorn Lettings Leicester

  • 6 Hannah Parade, Stonehill Avenue, Birstall, Leicester LE4 4JE
  • Tel: 01162 677 890
  • Email: info@acornlettings.com