In England you have the 'chain' problem but in Scotland you usually have to pay over the odds in the 'closing date for offers' problem
2007-02-27 00:53:48 · 4 answers · asked by julie g 3 in Business & Finance ➔ Renting & Real Estate
In Scotland the offer is NOT binding - you are only under contract when the missives are completed
I work in the legal system
and people pulled out of buying my house a couple of years ago just befor the missives were completed
2007-02-27 01:08:34 · update #1
scottish in my opinion
2007-02-27 01:03:38 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The 'offers over' system is not all it is cracked up to be, and not all houses go to closing dates. It works well when a property is in high demand and you have a few London City brokers with their bonuses wanting to buy a nice pad in Edinburgh, but for a 2 bed house in Dumbarton it may be a different story.
Buyers will often just offer the ;offers over' price and then add a going rate % and no more. This is not an auction, just the same as what you have in the UK !
Solictors and the new Estate Agents play a different 'dishonesty' game in Scotland and they still get up to tricks, even though it may not called 'gazumping'..
2007-02-27 09:05:34 · answer #2 · answered by alshialwil 2 · 0⤊ 0⤋
In Scotland, when you make an offer and it's accepted, it is binding for both parties. None of this 'gazumping'. Much prefer Scottish system!
2007-02-27 08:57:35 · answer #3 · answered by Cat burgler 5 · 0⤊ 0⤋
Could you outline for us the buying/selling process in England and Scotland? I'm a real estate agent in the US, and would be curious to know. Thanks.
2007-02-27 09:05:54 · answer #4 · answered by Anonymous · 0⤊ 1⤋