buying a house in scotland
The Scottish House Buying Process
When purchasing a home in Scotland it is
worth noting that there are some major differences
to that of the English system.
In EnglandThe house buying process may be described
in the following way:
Find a house that you want to buy and make
an offer through the estate agent who has
the house on the market (the offer is usually at the
asking price or in the region of the asking price).
If the offer is accepted you would
then appoint a solicitor for the next stages of the
In Scotland however...Normally a property is advertised
as 'offers over' this means that
the seller is looking to sell at an amount that is
'over' the stated price. Sometimes,but rarely, a property
will be advertised at a 'fixed' price.
This means that this is the price the seller is looking
Where a property is advertised as "offers over'
the buyer needs to decide how much he is prepared
to pay over the guide price. and then an offer is
made by the buyers solicitor to either the estate
agent acting for the seller or the sellers solicitor.
This offer can be made 'subject to a satisfactory
valuation' but normally the survey will have
already been carried out (at the buyers expense) to
ensure that there are no major defects within the
The sellers solicitor then accepts the buyers offer
subject to certain qualifications....once those qualifications
have been satisfied a legally binding agreement
has been entered into by both sides and withdrawal
can result in costs being claimed by the other party
for losses and/or expenses..
Where two or more parties show an interest in a property
then the seller can set a 'closing date'
this then results in the interested parties submitting
their best offer. Bids are opened at a specific date
and time and the seller selects the bid that he considers
to be the best (not necessarily the highest).
Once an offer has been made and formally accepted
then a moving date is agreed between parties to the
satisfaction of both.
In conclusion, the house buying process in Scotland
tends to move more smoothly than in England because
of the ordered way in which transactions are concluded.
At The Online Financial Solutions Ltd we
have consultants positioned such that they are able
of the Scottish market place.
Our consultants are on hand to help you find the
most suitable mortgage deal for you from our unique
system that has access to over 6,100 mortgages .
We will not only be with you at the beginning of
house buying process, we can also help you in your
search for a solicitor and provide support and expertise
during every step of your mortgage and house search.
Please call us on 01604 439930 or Click
Here to contact us.