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Scotland house prices have a history
of being comparatively stable compared to the rest of the UK, possibly because
home owners in Scotland generally are more cautious and have lower mortgage
commitments, leaving them less vulnerable to fluctuating interest rates.
Property for sale in Scotland can be found via online estate agents, solicitor
offices or Scottish newspapers. Some flats or houses sell via a property
auction, especially run down properties in need of renovation. The two biggest
cities in Scotland are Glasgow and Edinburgh with Glasgow's population being
around 600,000 followed by Edinburgh at 400,000. Aberdeen has a population
of 190,000 and Dundee around 150,000.
The process of buying a property in Scotland or selling a home differs to
the rest of the UK. The seller accepts an unqualified written offer on a
property which is legally binding and prevents the practice of 'gazumping'
which has become so common in the rest of the UK. In other words, the process
is essentially one step rather than two.
If you are buying a house in Scotland
you should employ a solicitor as currently there are no licensed conveyancers.
Normally a house in Scotland is offered on a 'fixed price' or 'offers over'
basis. If the house for sale is on a fixed price basis, then the seller will
usually accept the first offer made at the asking price. An "offers over"
sale requires house buyers in Scotland to make an offer to buy the house
at or above the offers only figure. If the seller expects to get several
offers, a closing date will probably be set.
Houses for sale in Scotland must be subject to a number of 'Property Checks'
as a system of feudal tenure exists whereby the seller has the power to impose
permanent restrictions on use and development of the land and/or property.
Commercial or private house buyers should check carefully any property they
wish to purchase. If you are buying a house in Scotland or a commercial property
then arrange for a property survey through your solicitor.
Only once you are happy with your house survey should you proceed to make
an offer. You should instruct a solicitor to make the offer on your behalf
and it should include the purchase price you are willing to pay, the date
of entry to the property, alterations and specialist works together with
any items like carpets and curtains that you want to have included in the
sale. If the seller of the house accepts your offer, respective solicitors
can proceed with the sale. In Scotland letters known as "missives" form the
contract and these will be signed by the solicitor. When the conditional
points of the offer have been accepted, a legally binding arrangement exists.
Once this stage has been reached, if either party wishes to pull out of the
deal they will probably be held liable or any losses on resale and other
costs incurred by the other party.
So BEWARE ... if you are moving from England to Scotland you should buy your
new home through a solicitor . Also, you must be fully aware of the Scottish
essentially one step process. Mistakes could be very expensive!
Other info pages:-
Aberdeen,
Birmingham,
Brighton, Bristol,
Cambridge,
Cardiff, Dorset,
Edinburgh, Glasgow,
Leeds, London,
Manchester,
Newcastle, Norfolk,
Oxford & York
plus Jargon Buster &
Buying in Scotland |
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