The Legal Process For Scotland
Buying and selling property in Scotland is fundamentally different from the
procedure elsewhere in Britain and more akin to the Continental system. That said
there are changes in prospect that will bring the two systems closer together
and many of the differences are in the terminology used – for example, ‘subjects’
is the Scottish legal expression equivalent to ‘an interest in land’.
It is often said that the Scottish system is superior as being more definite
and avoiding gazumping, but, as transactions increase, the procedure has become
more complicated and gazumping could occur in certain circumstances. Whether buying
or selling, it is essential that you receive expert professional advice. Here
at ABC Estate Agency pride ourselves on offering the best advice. We are able
to devote our time exclusively to property matters and are not side-tracked by
other considerations.
Every offer for the purchase of property, to be valid, must be in writing and
should observe the formalities of Scottish law. It is only when an unconditional
offer is accepted that there is a binding contract. The exchange of conditions,
set out in the missives, can culminate in a formal acceptance quite quickly. A
prospective buyer offering for a property could be committed to purchase the same
day. In practice, this process takes some weeks as the offer is generally conditional
on all survey reports, searches and finance being available.
Offers should never be made in writing without obtaining professional advice.
It is for this reason that solicitors normally submit offers – in a missive
format – on behalf of buyers. However, there is nothing to prevent the seller
and the proposed buyer negotiating and discussing the terms of the proposed transaction
more informally through the estate agent; the buyer cannot be held to a verbal
offer, but nor is the seller bound by a verbal acceptance.
Most properties are held freehold. Long leases of dwelling-houses are unusual
and mostly restricted to flats and apartments. Ownerships can be, and are, divided
horizontally giving a variety of title conditions. If you are selling, we will
inspect and value your property and suggest an asking price to publicise or agree
an upset price over which offers are invited. Apart from preparing advertising
for your approval, we will need to know what moveables – or fixtures and
fittings - you intend to include in the sale and, just as important, what is not
to be included. It will save time if you can gather together information which
any buyer will require, plus details about the council tax, water and fuel charges
as well as any obligations or specific liabilities relating to the property which
are known to you.
You should also appoint a solicitor (we can help you if you do not already
have one), and they will write to your Local Authority to obtain answers to standard
questions on roads, mining, sewerage and planning matters which may affect the
property.
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