i'm looking to buy a house in scotland but dont really understand the differences with england, if a house is 'under offer' can i still put a offer in? also do all house sale's have closing dates, with the best offer winning? Where do i start?
2007-06-28 11:02:43 · 7 answers · asked by 0000mug 1 in Business & Finance ➔ Renting & Real Estate
righto, when a house is under offer it means there is already 1 or more interested parties trying to buy the property, you cant put an offer in but you can put an official note of interest if the sale falls through. a property will go to a closing date when either a suitable offer has been made or there are a few interested parties willing to barter for a place, some home owners are picky about who is buying their property and can decline an offer even if it is the highest. you can buy my parents place for £250,000 if you want, 3 bedroom, 1 acre of land beside forest, private water supply, countryside views etc. depends where you want to stay i suppose. mail me if you need more info about understanding scottish property market.
2007-06-28 11:25:10 · answer #1 · answered by Anonymous · 0⤊ 0⤋
There is no contract per se in Scotland but letters between solicitors called missives, which are attested by the solicitors rather than by the buyers and sellersthemselves... though upon consultation with the client. Negotiation creates the terms to the contract after the offer is accepted. If a closing date to offers is set the seller's solicitor notifies the other side. The discretion to sell remains the seller's who accepts whatever offer he chooses.
When the missives are concluded the contract is binding and you are assumed bound to purchase or pay the seller costs for reliance loss if you withdraw. Offers should be about 20% and above the asking price lest the seller is selling on a fixed price basis.
Find a practice that deals with purchases in Scotland and have them place an offer.. that's where to begin :)
2007-06-28 11:23:51 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes you can make an offer. Remember when you make an offer this a legally binding contract, this stops gazumping. Most of the time the best offer does win but it does depend on the seller and how quick he wants the sale.
Make an offer with your solicitor after you get a valuation. A closing date usually happens when the market is strong and there are plenty of notes of interest.
Good Luck
2007-06-28 11:14:56 · answer #3 · answered by scottie 4 · 0⤊ 0⤋
under offer usually means that the offers have stopped and the seller is considering them but individual sales may be different so its worth seeing if you can still put an offer in.
Not all house sales have closing dates.
In most cases, the highest offer is the one that is accepted although the seller may be looking for a quick sale so may accept a lower offer.
The general rule for offers in scotland is 10%-15% over the asking price.
2007-06-28 22:18:25 · answer #4 · answered by Catwhiskers 5 · 0⤊ 0⤋
Scotland is much like the US. An accepted offer is legally binding upon both parties. Gazumping and collapsed chains don't happen the way that they do in England. Even if you can't sell your old place, you're obligagated to follow through with the new one though you could put a contingency on it to that effect if the seller was agreeable.
2007-06-28 11:23:33 · answer #5 · answered by Bostonian In MO 7 · 0⤊ 0⤋
not stunned it hasn't offered, hideous outdoors and soulless interior. additionally for one million/2 the money you may purchase a citadel with linked belongings so regardless of in case you have this kind of money it would not look fairly solid fee. Oh and loose merchandising of this form is called a assertion, a lot of companies and persons (politicians etc) use this device to sell a product/adventure/viewpoint.
2017-01-23 06:38:44 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Wall (Scottish brogue) we appreciate havin a good roof oer our heads, it keeps the kilts from gettin all wet.
2007-06-28 11:11:42 · answer #7 · answered by Dani 4 · 0⤊ 1⤋