Purchasing Property in Scotland – Step by Step Guide

Author: Beth Richmond
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With the right advice buying a property in Scotland need not be stressful. Our conveyancers can guide you through the process. They know the local property market inside out and will make sure you get the best possible deal on your new property and take care of every aspect of the transaction.

Despite conveyancing being a relatively routine and commonplace transaction a lot of people are mystified about what the process involves so here is a step- by- step guide which hopefully will bring a little clarity to the typical conveyancing transaction.

Step 1: Get in touch

You have found your dream home so please call us and we will get in touch with the estate agents marketing the property to let them know you are interested and find out if there are other interested parties and whether a closing date is going to be fixed. At this stage we will give a free fee quotation (our fees are competitive). We will discuss with you how you will be financing the purchase and will also get ID from you as is required under money laundering regulations.

Step 2: We send the offer

Once the above is in place we will send the estate agents an offer. If the offer is successful we will receive what is known as a qualified acceptance which is an acceptance of the offer but with qualifications attached. We will take your instructions and negotiate these conditions with the seller’s solicitor. This process is called the missives. The missives are not one document but a series of letters negotiating the deal. These, contrary to popular belief, do not need to be signed by the buyer or the seller.

Step 3: Title deeds & Reports

At this point we will receive the title deeds and other reports from the seller’s solicitor. We will examine these to make sure the seller has the right to sell the property and the titles contain nothing unusual. We will check if there have been any alterations, whether the property is located in  a coal mining area and whether there are any planning applications in the area, the road is public and drainage is public. If there are any doubts about the title to the property these queries will be raised at this stage. We will also prepare a draft disposition which is the deed formally transferring title to the property to you

Step 4: The Mortgage

We will take your instructions regarding the mortgage and explain just what you are getting into as the mortgage is secured against your home. We will get the relevant forms signed and finalise everything with the lender. We will also deal with Land & Building Transaction Tax if the value  of your property exceeds £145,000

Step 5: The Missives

When we have reached an agreement with the seller’s solicitors and everything is finalised the missives are concluded and your home is legally yours.

Step 6: The house is paid for

At the point the financial aspects of the transaction are settled you will be given the keys to your new home.

Step 7: Moving day

Now you are on your own. Good luck and enjoy your new home. Have a fish supper, some bubbly and find the remote control!

If I can help in anyway please contact me Beth Richmond on 0141 552 3422 or by email beth@mitchells-roberton.co.uk

Beth Richmond

About Beth Richmond

Beth joined Mitchells Roberton in November 2014 shortly after leaving school. At first she worked as a general office assistant attaining Level 3 in Business and Administration under the Modern Apprenticeship Scheme. In December 2015 Beth moved to our Private Client Department becoming involved in guardianship administration. Beth is friendly and approachable with good communication skills. She is a keen swimmer having previously been a member of the Glasgow City Swim Team and is still a water baby. She also enjoys spending time with her family and socialising with her friends. Email: beth@mitchells-roberton.co.uk

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