Yes, under the terms of your lease we’ll need to know the value of your home when you come to sell it. This is because there are public funds invested in your home.
The value of the property could increase or decrease based on housing market conditions, so you may find your home is valued at more or less than the original price you first paid for it.
Any significant improvements you’ve made to your home will be included in the full market value. From this, we’ll calculate the value of your share.
Your valuation report will only be valid for three months. If it takes longer than three months to sell your property, then you’ll need to get what’s known as a desktop valuation. This is a professional adjustment of the original valuation, based on market conditions. It’s your responsibility to make sure you have an up-to-date valuation during the sale process.