House Buying in ScotlandHome > Purchasing a Home in Scotland
3) The next stage could be to have survey and valuation reports carried out on the property. Armed with these, you should have a better idea of how much to offer. You can submit an offer which has a condition attached, 'subject to survey'. On the one hand, this should mean you don't have to pay for a survey on a property when there are multiple offers and yours in unsuccessful. However, when the seller does receive multiple offers, one with fewer conditions attached is more attractive to them. The seller is perfectly at liberty to choose a lower offer with fewer conditions. You should certainly take your solicitor's advice on whether to obtain a survey first or make an offer which is conditional on a later survey. 4) How you make an offer depends on how much competing interest there is for the property. Your solicitor should find out whether the seller wants a quick sale and might accept an offer from you, or whether the seller intends to set a closing date prior to which all potential purchasers are invited to submit sealed offers. Your solicitor will advise which way to 'play this'. 5) How much you offer depends on how much similar houses have been selling for, the results of your survey if you have one, the amount of competition there is trying to purchase the property and obviously how much you can afford. Website NetHousePrices is an excellent source to find out what similar houses have sold for. Again, your solicitor's advice should be sought. 6) Your solicitor will submit a written offer to the seller's agent. You can expect to hear quickly whether the offer has been accepted, either immediately or on any previously set closing date. Normally your offer will have a number of conditions so there will be a short period where your solicitor and the seller's will resolve and clarify issues such as entry date, included house contents etc.. 7) When your offer is accepted, the seller's solicitor will send your solicitor a qualified acceptance and a folder of information such as deeds, past planning correspondence etc.. Your solicitor will inspect these documents and could raise further issues with the seller's. It is possible details included in these papers arise which result in you deciding not to purchase. 8) To make the purchase firm, your solicitor will send a formal contractual letter with a final statement of qualifications. If this is acceptable to the seller, their solicitor will return a formal letter concluding the contract. At this stage both you and the seller are bound by the terms of that contract which is based on the offer, qualified acceptance and other formal letters. 9) Prior to the settlement date, your solicitor will conclude conveyancing details and will liase with your mortgage lender. Cleared funds should be with your solicitor before the settlement date. Usually this money will come from your mortgage provider and any balance will be provided from you. 10) On the date of entry, assuming cleared funds are transfered to the seller's solicitor, you should be give the keys to your new home. Your solicitor will receive a disposition from the seller's along with all titles and relevant papers. And finally, to reiterate, this page is not intended as legal advice! You must appoint a solicitor qualified to practice law in Scotland and seek their advice on all matters relating to your house purchase. Offers for 1 Bridle Way, Crieff, must be in Scottish Legal Form and be prepared by a Scottish Solicitor. These should sent to :-
Crieff House for Sale - 1 Bridle Way © 2008 |
