Property FAQs
How to sell a property in Scotland
How to buy a property in Scotland
What are Home Reports?
Thinking of cohabiting?
How to sell a property in Scotland
First, employ the services of an estate agent/solicitor
Your own solicitor may also be an estate agent. If not, ask them to help you choose the best agent at the best price.
What information do you need to give your solicitor about your property?
Provide your solicitor with details of all loans secured over your property with loan account number and lenders' details. You should also tell him about any alterations that you have made to the property, any planning applications made by your neighbours, and anything else that you consider might be relevant to your property. He can then gather all the necessary documents and the title deeds ready to receive an offer.
What happens once an offer has been made?
Your solicitor will seek your instructions before issuing an acceptance. The offer may be 'subject to survey' and the purchasers will be encouraged to have their survey carried out and to confirm that it is in order before the acceptance is issued. Your property is now 'under offer'. At this stage both parties can withdraw without penalty. Once your solicitor has accepted on your behalf, the purchaser's solicitor will take instructions and reply. Each reply is usually a negotiation of the terms and is a further step towards 'conclusion of missives'. When this is achieved, there is a binding contract from which neither party can withdraw without penalty.
PLS is extremely experienced in this field. Our aim is to achieve a concluded contract quickly so you know exactly where you stand. We'll keep you informed every step of the way and will always be at the end of the phone or email at this stressful time.
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How to buy a property in Scotland
First, find a solicitor and ask for a quote of fees and outlays
Ensure that you have appropriate finance in place. If required, your solicitor may be able to put you in touch with an independent financial advisor.
Choose the areas that interest you and start to view properties
If a property is advertised as 'fixed price' it is important to move quickly as these are often sold on a first come first served basis. If the property is advertised as 'offers over' you will usually have time to ask your solicitor to 'note your interest', which should mean that you will be given an opportunity to offer for the property, perhaps at a closing date if there are other notes of interest.
How can your solicitor help?
As you view properties, you will begin to get a feel for the market. Your solicitor can help by doing a price comparison to find out what similar properties in an area have sold for to give you an indication of what you might need to offer.
Making an offer
If the seller indicates that he will consider an offer or if you decide to make a pre-emptory offer, your solicitor will do this on your behalf. Alternatively, a closing date for offers may be fixed. In this case, all interested parties instruct their solicitors to offer in a 'blind auction' where they do not know and will not be told what the other offers are. A seller will usually accept the highest offer but this is not mandatory. Your may make your offer 'subject to survey' or you may have a survey done before offering. The latter is obviously risky as you may be competing for the property and if you are not successful then you have wasted the cost of the survey. However, offers with their survey already done are often more attractive to sellers, particularly if the offers received are close in amount.
What happens when your offer is accepted?
If your offer is accepted your solicitor will receive a formal acceptance from the sellers' solicitor and will then take your instructions before issuing a formal acceptance on your behalf. There will then follow an exchange of letters. Each reply is usually a negotiation of the terms and is a further step towards 'conclusion of missives'. When this is achieved, there is a binding contract from which neither party can withdraw without penalty.
Ready to buy a property? Don't miss out. Trust PLS to give you upfront rates, great advice and to act swiftly and efficiently on your behalf.
Back to Top
What are Home Reports?
Buyers and sellers: Are you ready for the introduction of Home Reports in December 2008? From December 2008 Home Reports (otherwise known as the Single Survey) are being introduced to Scotland. Whether you are a buyer or a seller you need to know about these.
Do I need to get a Home Report?
As a seller, it's your responsibility to have a Report prepared and made available before your home can be put up for sale. The purpose of the Report is to provide essential information at an early stage in the property transaction so that buyers can make a more informed decision about your property.
A Home Report comprises:
A single survey prepared by a Surveyor which sets out the condition and value of the property.
An energy report giving a home energy efficiency rating and a note on the environmental impact.
A property questionnaire which the seller must have completed and should contain useful information for buyers, solicitors and surveyors.
Does it affect me right now?
The legislation takes effect in Scotland from December 2008, so you must be aware of what is happening if you are planning on buying or selling towards the end of the year. If your house is already on the market on 1 December 2008, you will not have to provide a Home Report. However, after the date of introduction, buyers will be expecting one, so there is still an incentive to offer a Home Report in this situation.
I'm selling. What happens if I don't get one?
The Trading Standards Office is responsible for ensuring that the sellers or selling agents have Home Reports in place. A penalty fine of £500 may be levied if the seller or the selling agent is in breach of the act. The legislation does not demand that Home Reports are updated on a specific date. This decision is left to sellers, buyers and their professionals.
I've heard of HIPs. Is the Home Report the same?
In England and Wales the Home Report is known as a Home Information Pack (HIP). But it is different. The HIP must contain compulsory documents such as standard searches, an energy performance certificate, evidence of title and a sales statement. It does not need to include a property condition survey as this is an optional document.
If you would like to read more about Scottish Home Reports, visit the website www.homereportsscotland.gov.uk. Are there any circumstances where a Home Report isn't required? Yes, and these exceptions are really common sense, as follows:
New housing
Newly converted premises
Right to Buy homes
Seasonal and holiday accommodation
A portfolio of properties
Mixed sales, ie part commercial and part residential and dual use of a dwelling house
Unsafe properties
Properties to be demolished
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Thinking of cohabiting?
If you are thinking of setting up home with your partner and are not married or have not entered into a civil partnership, particularly (but not exclusively) if you are purchasing a property together, there are implications that you should carefully consider at the outset and discuss with your solicitor.
These implications are:
Succession
What happens if one of you dies?
If you are not married or have not entered into a civil partnership, then if you have not made a Will, your share of the property will be subject to the law of intestate succession. This will usually exclude your partner who may then find themselves homeless, so it's vital that you both have valid Wills in order to avoid this scenario.
Separation
What happens if you separate?
It's a good idea to enter into a Minute of Agreement when purchasing the property stipulating who contributed what to the purchase, eg one party may have contributed more. This Minute of Agreement could also cover what should happen if you were ever to separate. If nothing else, a Minute of Agreement concentrates the mind and ensures that both parties are thinking along the same lines.
Family Law Issues
Co-habiting couples now have limited rights in property and money that they did not have previously. You should consider discussing what these potential rights are with a family law specialist before entering into a joint purchase. Also, these rights could arise if you have gifted or plan to gift a property to a child, who may cohabit with a partner. That partner could gain rights in the property. The rights referred to are not the same as rights to matrimonial property on divorce or separation, however, they can be significant.
PLS can advise on all of these issues and, as long as you make us aware of all the facts of your situation when you enter into a purchase, we will discuss the relevant implications with you.
Back to Top
How to buy a property in Scotland
What are Home Reports?
Thinking of cohabiting?
How to sell a property in Scotland
First, employ the services of an estate agent/solicitor
Your own solicitor may also be an estate agent. If not, ask them to help you choose the best agent at the best price.
What information do you need to give your solicitor about your property?
Provide your solicitor with details of all loans secured over your property with loan account number and lenders' details. You should also tell him about any alterations that you have made to the property, any planning applications made by your neighbours, and anything else that you consider might be relevant to your property. He can then gather all the necessary documents and the title deeds ready to receive an offer.
What happens once an offer has been made?
Your solicitor will seek your instructions before issuing an acceptance. The offer may be 'subject to survey' and the purchasers will be encouraged to have their survey carried out and to confirm that it is in order before the acceptance is issued. Your property is now 'under offer'. At this stage both parties can withdraw without penalty. Once your solicitor has accepted on your behalf, the purchaser's solicitor will take instructions and reply. Each reply is usually a negotiation of the terms and is a further step towards 'conclusion of missives'. When this is achieved, there is a binding contract from which neither party can withdraw without penalty.
PLS is extremely experienced in this field. Our aim is to achieve a concluded contract quickly so you know exactly where you stand. We'll keep you informed every step of the way and will always be at the end of the phone or email at this stressful time.
Back to Top
How to buy a property in Scotland
First, find a solicitor and ask for a quote of fees and outlays
Ensure that you have appropriate finance in place. If required, your solicitor may be able to put you in touch with an independent financial advisor.
Choose the areas that interest you and start to view properties
If a property is advertised as 'fixed price' it is important to move quickly as these are often sold on a first come first served basis. If the property is advertised as 'offers over' you will usually have time to ask your solicitor to 'note your interest', which should mean that you will be given an opportunity to offer for the property, perhaps at a closing date if there are other notes of interest.
How can your solicitor help?
As you view properties, you will begin to get a feel for the market. Your solicitor can help by doing a price comparison to find out what similar properties in an area have sold for to give you an indication of what you might need to offer.
Making an offer
If the seller indicates that he will consider an offer or if you decide to make a pre-emptory offer, your solicitor will do this on your behalf. Alternatively, a closing date for offers may be fixed. In this case, all interested parties instruct their solicitors to offer in a 'blind auction' where they do not know and will not be told what the other offers are. A seller will usually accept the highest offer but this is not mandatory. Your may make your offer 'subject to survey' or you may have a survey done before offering. The latter is obviously risky as you may be competing for the property and if you are not successful then you have wasted the cost of the survey. However, offers with their survey already done are often more attractive to sellers, particularly if the offers received are close in amount.
What happens when your offer is accepted?
If your offer is accepted your solicitor will receive a formal acceptance from the sellers' solicitor and will then take your instructions before issuing a formal acceptance on your behalf. There will then follow an exchange of letters. Each reply is usually a negotiation of the terms and is a further step towards 'conclusion of missives'. When this is achieved, there is a binding contract from which neither party can withdraw without penalty.
Ready to buy a property? Don't miss out. Trust PLS to give you upfront rates, great advice and to act swiftly and efficiently on your behalf.
Back to Top
What are Home Reports?
Buyers and sellers: Are you ready for the introduction of Home Reports in December 2008? From December 2008 Home Reports (otherwise known as the Single Survey) are being introduced to Scotland. Whether you are a buyer or a seller you need to know about these.
Do I need to get a Home Report?
As a seller, it's your responsibility to have a Report prepared and made available before your home can be put up for sale. The purpose of the Report is to provide essential information at an early stage in the property transaction so that buyers can make a more informed decision about your property.
A Home Report comprises:
A single survey prepared by a Surveyor which sets out the condition and value of the property.
An energy report giving a home energy efficiency rating and a note on the environmental impact.
A property questionnaire which the seller must have completed and should contain useful information for buyers, solicitors and surveyors.
Does it affect me right now?
The legislation takes effect in Scotland from December 2008, so you must be aware of what is happening if you are planning on buying or selling towards the end of the year. If your house is already on the market on 1 December 2008, you will not have to provide a Home Report. However, after the date of introduction, buyers will be expecting one, so there is still an incentive to offer a Home Report in this situation.
I'm selling. What happens if I don't get one?
The Trading Standards Office is responsible for ensuring that the sellers or selling agents have Home Reports in place. A penalty fine of £500 may be levied if the seller or the selling agent is in breach of the act. The legislation does not demand that Home Reports are updated on a specific date. This decision is left to sellers, buyers and their professionals.
I've heard of HIPs. Is the Home Report the same?
In England and Wales the Home Report is known as a Home Information Pack (HIP). But it is different. The HIP must contain compulsory documents such as standard searches, an energy performance certificate, evidence of title and a sales statement. It does not need to include a property condition survey as this is an optional document.
If you would like to read more about Scottish Home Reports, visit the website www.homereportsscotland.gov.uk. Are there any circumstances where a Home Report isn't required? Yes, and these exceptions are really common sense, as follows:
New housing
Newly converted premises
Right to Buy homes
Seasonal and holiday accommodation
A portfolio of properties
Mixed sales, ie part commercial and part residential and dual use of a dwelling house
Unsafe properties
Properties to be demolished
Back to Top
Thinking of cohabiting?
If you are thinking of setting up home with your partner and are not married or have not entered into a civil partnership, particularly (but not exclusively) if you are purchasing a property together, there are implications that you should carefully consider at the outset and discuss with your solicitor.
These implications are:
Succession
What happens if one of you dies?
If you are not married or have not entered into a civil partnership, then if you have not made a Will, your share of the property will be subject to the law of intestate succession. This will usually exclude your partner who may then find themselves homeless, so it's vital that you both have valid Wills in order to avoid this scenario.
Separation
What happens if you separate?
It's a good idea to enter into a Minute of Agreement when purchasing the property stipulating who contributed what to the purchase, eg one party may have contributed more. This Minute of Agreement could also cover what should happen if you were ever to separate. If nothing else, a Minute of Agreement concentrates the mind and ensures that both parties are thinking along the same lines.
Family Law Issues
Co-habiting couples now have limited rights in property and money that they did not have previously. You should consider discussing what these potential rights are with a family law specialist before entering into a joint purchase. Also, these rights could arise if you have gifted or plan to gift a property to a child, who may cohabit with a partner. That partner could gain rights in the property. The rights referred to are not the same as rights to matrimonial property on divorce or separation, however, they can be significant.
PLS can advise on all of these issues and, as long as you make us aware of all the facts of your situation when you enter into a purchase, we will discuss the relevant implications with you.
Back to Top