Home Group - Selling Your Retirement Home
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your retirement home
Made simple with
To find out more call us on 0845 230 20742 | Good living for later life
3 Its simple with Home Group5 Enjoy a stress-free sale7 Peace of mind9 How do you sell?11 Leasehold Scheme for the Elderly15 The sales process19 Restrictions on selling21 Preparing your home for sale23 Costs
This sellers guide is designed to give you an insight into the level of service and commitment you can expect to receive by entrusting us to sell your retirement property. Well always make every effort to ensure
your sale is as stress free as possible.
Or visit us online at www.homegroup.org.uk/retirement Good living for later life | 3
Its simple with Home GroupWhen it comes to selling property, most of us might think that going
through an estate agent is the only route to market.
Not so. Home Groups leasehold
retirement in-house sales and marketing
team has been selling retirement properties
across East Anglia and the South East for
over 25 years.
Clients turn to us for our specialist
experience and understanding of the
retirement market and the prominent
position we hold within the communities
we serve. From start to finish the leasehold
retirement team looks after you and your
interests, from giving tips on preparing your
home for sale through to handing over the
keys upon sales completion.
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Weve gone to great lengths to get to
know our local communities, forming
relationships with older persons service
providers, supporting agencies and those
planning their retirement, and we hold a
subscribers list of people potentially looking
to buy a retirement home.
To us every property and sale is individual
so we create an eye-catching property
portfolio tailored just for you and your
home. All photographs and details of your
property portfolio will be placed on the top-
ranking UK property websites and listings.
Were extremely proactive in promoting
properties for sale and marketing
them to the right audience. As well as
mailing, emailing and text-messaging the
prospective buyers on our subscribers list
we share property release details with local
agencies and service providers for older
people and run national and local press
and radio advertisements to reach
an even bigger audience all to make
sales smoother, easier and swifter for you.
Benefits of selling with Home Group:
l Comprehensive internet marketing campaigns, publicity
via the Home Group website,
leading UK property sales
websites, and email campaigns
l Individual, eye-catching property portfolio
l Highly trained, experienced staff with local expertise
l Offer-check procedure for complete peace of mind
and confirmation of your
l Excellent customer service
l Regular feedback and advice
l In-house legal team
A successful sale is easy when you put your trust in Home Group
We believe that with the right help, buying and selling a home can be a secure and stress-free process. Thats why our friendly, experienced and highly trained executives
do everything they can to make it as simple and straightforward as possible.
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You can be assured that our
team will describe and explain
every aspect of Home Groups
independent living developments
to prospective purchasers.
Our service includes:
l Receiving and validating enquiries from prospective buyers
l Arranging appointments to view
l Conducting comprehensive viewings of your property as well
as a tour of our communal facilities
l A detailed explanation of our services and associated activities
l An explanation of the service providing an overview of the
service charge and obligations
under the lease
l Making sure that prospective buyers are offer-checked
and ready to proceed with
l Conduct an interview with the prospective buyers
l Liaise with prospective buyers GPs to confirm their health and
well-being as being suitable for
l An instruction to our in-house solicitor to support the conveyance
and completion of the transaction
l Progression of sale from reservation to completion by Home
Groups sales team
Well keep you informed throughout this
process, so you can just sit back, relax and
let us do the work for you.
For your peace of mindOur service includes everything you need to make sure your selling process is as easy as possible. Over time, our solid marketing expertise has built an
enviable reputation in attracting eligible buyers.
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Before formally notifying Home Group of
your intention to proceed with the sale it is
best to select your solicitor. You may wish
to use the solicitor who originally dealt with
the purchase as they are likely to have
records regarding your property details.
You may also require a solicitor to deal with
the legal work associated with the estate
through a Grant of Probate and/or Power
of Attorney to support and enable the sale
of the property.
Please note: selling a home in England and
Wales requires an Energy Performance
Certificate (EPC). You can obtain an EPC
from a local provider, or Home Group can
order one on your behalf.
l You can instruct Home Group to market your property solely for you.
This way you know that the people
being contacted are age-qualified,
meet the defined independent
living criteria and have come
through our renowned targeted
l Owners of a property on a Private Scheme for the Elderly (PSE) can
either solely or jointly instruct
Home Group, or solely instruct
an estate agent of your choice
(subject to the terms under your
lease) to market your property.
Any fees charged by the agent
would be negotiated by you
l If you own less than 100% of your property on a Leasehold
Scheme for the Elderly (LSE),
under the terms of your lease, you
must instruct Home Group to solely
market your property for you in
the first instance**
NB: An estate agent will charge a
negotiated rate for their services.
Our charge is a percentage, as set out
in your lease, of the sale price achieved.
This percentage is only payable if the
eventual purchaser buys your property
as a direct result of our efforts.
How do you sell?Vendors should complete and return an Instruction to Market form, along with
the supporting evidence documentation and details as required.
**Under the terms of your lease a valuation must be carried out by an independent FRICS or RICS qualified surveyor to determine the current open market value of your property, and this will be the fixed price the property will be marketed at. As the vendor the valuation costs incurred in connection with the selling of your property will be yours. (Please see LSE valuations.)
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A reminder: what is LSE?
The scheme is designed to provide
affordable and manageable properties for
older or retired people. Under the scheme
you pay a percentage (usually 70%) of the
value of the property. You dont pay any rent
to Home Group for the remaining share that
you havent personally bought. However,
you do have to pay for all service charges.
The percentage you havent purchased is a
payment discount and is locked into your
property. This means that whoever buys it
from you will benefit from the discount as
well, when the property is sold.
Selling your LSE property
A valuation report is required when selling
an LSE property (where you own less
than 100%). Under the terms of the
lease a valuation must be carried out by
an independent FRICS or RICS qualified
surveyor to determine the current open
market value of your property, and this will
be the price the property will be marketed
at. You have the option to instruct your
If so, the report must:
l Be undertaken by an independent FRICS or RICS qualified valuer
l Include photographs of the internal rooms
l Provide imperial and metric room dimensions
l Provide comparisons with similar properties in the area
l Provide a sales price and the 100% market value
The valuation is valid for a period of
three months from the date your property is
inspected. Its therefore imperative that you
complete and return the paperwork quickly
to enable us to start marketing your home.
Once the report is issued we will do all we
can to ensure a buyer is found before the
valuation report expires. If a buyer cannot be
found by this date you may incur additional
costs for further valuation updates.
Please note the surveyors decision on
the valuation is final. If you decide to
proceed with the sale, the price at which
your home is marketed will be fixed and
based on the valuation.
Home Groups sales team can recommend
qualified surveyors and instruct them to
carry out the required valuation report.
Again, any valuation report costs are
borne by you.
Leasehold Scheme for the Elderly (LSE)If youve bought your home under the Leasehold Scheme for the Elderly there
are a few things you might have to consider.
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How do you extend your lease?
If your property is held on assignable lease
that is running low on its remaining years
and youd like to increase the appeal of
your property before you sell, well help
you extend your lease by another 90 years
on top of your remaining term. You can
place a request for further guidance on
lease extensions and the steps involved.
Or visit us online at www.homegroup.org.uk/retirement Good living for later life | 13
Lease extensionsContact details:
2 Gosforth Park Way,
Gosforth Business Park
Newcastle upon Tyne, NE12 8ET
Telephone: 0845 155 1234
To find out more call us on 0845 230 207414 | Good living for later life
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Step 1: Appoint a solicitor
You may wish to use the solicitor who
originally dealt with the purchase and/
or has experience with retirement living
leases. We find this helps the process run
smoothly. Its also important that you obtain
evidence of your legal entitlement to deal
with the sale of the property and provide
this to us.
Step 2: Let us know
In this booklet youll find an Instruction
to Market form and the costs sheet for
selling your property. If you wish us to act
it is a requirement that you sign the form,
provide documented evidence of your
entitlement to sell and agree to the terms
set out to sell the property. Then return it
to us, as an official instruction for us and
formal notification of your intention to sell
Step 3: Arrange for an Energy
Performance Certificate (EPC)
This is required for all properties being
sold in England and Wales before
marketing can commence. And to make
it easier, we can order an EPC report on
your behalf. You are responsible for the
cost. The energy rating is used in the
promotion of your home.
Step 4: Valuation Only required if your home is an LSE / shared equity home ownership property
Under the terms of the lease, where you
own less than 100% a valuation must be
carried out by an independent FRICS or
RICS qualified surveyor to determine the
current open market value of your property.
This then fixes the price the property will
be marketed at.
Simple steps to selling
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Step 5: Preparing your property details
We promote each of our properties
through a number of channels and strive
to highlight, accentuate and market each
propertys best features. Your property
will be promoted through direct mail,
text message and email details to people
looking for properties in your area who
are registered with us and our partners.
To ensure the best results well also list
the property on the UKs leading property
sales websites and may also include your
property details in a variety of local and
national press and radio advertisements.
We then focus all our energies on getting
as many interested buyers as possible
to view your property. This, together with
our advertising links with older persons
service agencies and comprehensive
marketing, allows us to offer a quality
service and ability to capture the interest
of those buyers who may not have
otherwise have viewed.
On receipt of the Instruction to
Market form, along with all supporting
documentation set out within, we will
create bespoke sales particulars in print
and online and commence marketing
within as little as five days of receipt.
Simple steps to selling
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l All leaseholders/legally entitled persons should sign an Instruction
to Market form and agree to the
terms set out to sell the property
l Sellers of LSE/shared equity properties must have a valuation
carried out by an independent
FRICS or RICS qualified valuer.
The seller is required to pay for a
valuation for three months; if the
property has not been sold within
this time a further valuation may
be needed after this time
l The seller is responsible for the cost and, unless they instruct
us to do so, the ordering of an
EPC is required before marketing
l The Home Group marketing agreement has a sixteen-week
period in which to market
your property and find a buyer,
starting five days from receiving
the Instruction to Market
form, specified supporting
documentation and access to the
property for promotional images
l You will be kept informed on the sales activity, viewings and
any feedback received from
prospective buyers with advice
based on the same
l You will be formally notified of all offers from prospective buyers
who meet the criteria. At this stage
you will be required to confirm
acceptance of the offer prior to us
approving the buyer and legally
instructing the sale
l All potential purchasers must attend an interview with your
developments scheme manager or
a Home Group representative and be
vetted on their suitability to purchase
and meet the requirements of the
lease. They will also be assessed
against the Independent Living**
criteria and, if appropriate, required
to produce financial details,
otherwise we cannot offer them
the opportunity to buy. Once
these checks are completed the
applicants GP will be consulted as
to whether their patient meets our
independent living criteria. If so, their
application will be approved by the
Home Group Sales Team and all
parties will be advised accordingly
l The legal process usually takes 6-12 weeks. When a date for
completion is agreed, you will
need to organise the handover of
keys with the buyer. This usually
takes place at the property and
should be arranged by solicitors
Are there any restrictions on selling?
** Independent Living means owning your own home, in a purpose built development, that on a daily basis you are capable of maintaining; managing your own financial affairs, day-to-day living needs and are sufficiently mobile to live independently within the property and able to evacuate the building unassisted in the event of a fire, capable of using communal areas and joining in the activities and events on offer without assistance. Please note: as part of our standard application process we will seek confirmation of a buyers medical status from their GP.
To find out more call us on 0845 230 207420 | Good living for later life
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Here are a few tips to help you:
l Clean or replace stained carpets
l Fix leaky taps
l Bleach and/or replace dingy grout
l Freshen up and redecorate
l Banish smoke or foul odours
l Give your home a good tidy this will make it seem roomier
l Regularly open the windows to let fresh air in
l Make it feel homely. Air freshener or fresh flowers will do the trick
l De-personalise. Put away personal items like family photos. Buyers
may be a little put off if they see a
space that youve made your home
theyre looking for one that they
can make theirs
Preparing your home for saleWe all know that first impressions count, so its important to make sure your home
is looking its best for each viewing. Its the little things that can make a big difference too.
To find out more call us on 0845 230 207422 | Good living for later life
1. Sinking fund
A sinking fund is the name given to a long-
term savings account that homeowners
contribute to in order to fund major works
that are required over a period of time,
such as painting of communal areas,
lift repairs or replacement windows.
Leaseholders contributions can either
be collected as a percentage of the sales
price as per the lease payable upon
sales completion or it can be collected
through the monthly service charge.
2. Resale fee
If Home Group finds a buyer there will
be a resale fee, which is a percentage of
the sales price plus VAT, payable upon
completion as per the terms of your lease.
Please see enclosed cost sheet.
3. Administration fee
A charge of 350.00 plus VAT will
be charged for administering the sale.
This fee covers the costs of approving
the purchaser by way of application,
an interview with a Home Group
representative and obtaining a medical
status report. It also covers the processing
of solicitor pre-contract enquiries and the
preparation of a completion statement, and
includes 3 years service charge accounts,
building insurance and fire risk assessment
information, plus general purchaser/vendor
enquiries and administration.
4. Service charge
This is the ongoing responsibility of the
vendor. Upon notification of completion,
the current quarter will be apportioned
between vendor and purchaser.
5. Refurbishment costs
Any costs incurred by you to place
the property in good order prior to sale.
6. Assignment costs (if applicable)
Your lease may also contain details of
other payments known as legal/transfer
fees payable to the landlord. Where these
payments apply, these will be detailed
individually within your lease and collected
There will be other costs incurred from
your solicitor. The costs shown above
are those directly related to Home Group
South Retirement Leasehold properties.
CostsThe costs of selling your home will vary according to its value
and the terms of your lease.
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