• Shared Ownership Exchange

    By Guest on 21st Mar 2023

    I am currently sell my house to buy a shared ownership. The issue is that we have to exchange by April 11th. To sell my current house, we have to get a deed of variation from the management company. This is likely to take some time and possibly go over the exchange deadline. This is the only thing holding up the process. The Byers are first time buyers with mortgage in place. They want a quick sale as well. Would the shared ownership company withdraw from sale if we don’t exchange on time? Would we be able to re reserve the property and by doing this effectively extend the deadline? They have about 5 other houses still for sale on the estate. I am worried if they pull out, we have nowhere in place to move to. I am onto my solicitor and the management company all the time. They said the solicitor a for the management company need to check it first with solicitors who only meet once a week. Then they have to change it, get it agreed and send to land registry. They can’t fast track it in anyway.

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