At REMAX Property Marketing, we think it is very important that our buyers fully understand the process of buying a home in Scotland.
This is only a brief account but hopefully it will go some way to aiding your understanding of how the home buying process works and allay any of your concerns you may have.
We would, however, stress that if you are uncertain about any aspects of your purchase transaction you should feel free to ask either your estate agent or solicitor for advice. We are here to help and to answer any queries you may have.
PREPARING TO BUY (BEFORE VIEWING)
BUDGET & AFFORDABILITY
Establish your maximum purchase price including deposit, solicitor (conveyancing) fees, mortgage arrangement fees, LBTT, Land Register/registration fees, potentially and moving costs.
MORTGAGE IN PRINCIPLE
If you need a mortgage, get an Agreement/Decision in Principle (AIP) from a lender — this strengthens your o er.
START YOUR SEARCH
As a buyer, it’s a good idea to cast your net wide when searching for a home. Start with popular property websites like Rightmove, Zoopla, and the REMAX Scotland website, where most sellers and agents advertise their listings. It’s also smart to register directly with local estate agents, as they can alert you to new properties before they hit the wider market and may even suggest homes that suit your needs but aren’t yet advertised online. By combining online searches with local agent support, you’ll give yourself the best chance of finding the right property quickly.
BOOK A VIEWING
When you find a property you like, the next step is to book a viewing through the estate agent. It’s best to arrange this as soon as possible, especially if the market is competitive, so you don’t miss out. Try to view the property in daylight to get the best sense of its condition, and don’t be afraid to ask questions about things like recent repairs, running costs, or the local area. If you’re seriously interested, you may want to arrange a second viewing to take a closer look before making an o er.
UNDERSTANDING A HOME REPORT
SINGLE SURVEY
This is a detailed assessment of the property’s condition conducted by a qualified surveyor. It covers aspects such as the structural integrity of the property, any significant defects or issues, and recommendations for repairs or maintenance. The Single Survey aims to provide buyers with a clear understanding of the property’s current state, helping them assess its suitability and potential costs of ownership.
ENERGY PERFORMANCE CERTIFICATE (EPC)
The EPC evaluates the energy e ciency of the property and rates it on a scale from A to G, with A being the most energy-e cient and G the least. It includes information on the property’s energy usage, carbon dioxide emissions, and recommendations for improving energy e ciency. The EPC is valuable for buyers seeking to understand the environmental impact of the property and its potential utility costs.
PROPERTY QUESTIONNAIRE
The Property Questionnaire is completed by the seller and contains additional information about the property, such as its council tax band, parking arrangements, and any alterations or improvements made. It provides insight into practical aspects of living in the property and can help buyers assess its suitability for their needs.
KEY COMPONENTS A HOME REPORT
SINGLE SURVEY
This is a detailed assessment of the property’s condition conducted by a qualified surveyor. It covers aspects such as the structural integrity of the property, any significant defects or issues, and recommendations for repairs or maintenance. The Single Survey aims to provide buyers with a clear understanding of the property’s current state, helping them assess its suitability and potential costs of ownership.
ENERGY PERFORMANCE CERTIFICATE (EPC)
The EPC evaluates the energy e ciency of the property and rates it on a scale from A to G, with A being the most energy-e cient and G the least. It includes information on the property’s energy usage, carbon dioxide emissions, and recommendations for improving energy e ciency. The EPC is valuable for buyers seeking to understand the environmental impact of the property and its potential utility costs.
PROPERTY QUESTIONNAIRE
The Property Questionnaire is completed by the seller and contains additional information about the property, such as its council tax band, parking arrangements, and any alterations or improvements made. It provides insight into practical aspects of living in the property and can help buyers assess its suitability for their needs.
HOW TO USE A HOME REPORT EFFECTIVELY
SCRUTINISE THE SINGLE SURVEY
Pay close attention to the findings of the Single Survey. Look for any red flags regarding the property’s condition, such as structural issues or significant repairs. While some minor issues may be acceptable, it’s crucial to assess whether any major concerns could potentially impact your decision to proceed with the purchase.
ASSESS THE EPC
Evaluate the property’s energy e ciency rating and accompanying recommendations. Properties with higher energy e ciency ratings typically incur lower utility costs, making them more economical to maintain in the long run. Consider the feasibility and cost-e ectiveness of implementing any suggested improvements to enhance energy e ciency.
REVIEW THE PROPERTY QUESTIONNAIRE
Take the time to review the information provided in the Property Questionnaire. Pay attention to details such as the property’s council tax band, parking arrangements, and any alterations undertaken. This information can o er valuable insights into the practical aspects of living in the property and help you determine whether it aligns with your requirements.
SEEK PROFESSIONAL ADVICE
If you are unsure about any aspect of the Home Report or require clarification on certain findings, don’t hesitate to seek advice from qualified professionals, such as solicitors or surveyors. They can o er expert guidance tailored to your specific circumstances, ensuring you make informed decisions throughout the buying process.
HEADING
NOTE OF
INTEREST
If you find a property you like but aren’t ready to make an o er, you can put in a Note of Interest through your solicitor or, less formally, directly with the selling agent. A formal Note of Interest signals to the seller that you’re considering the property and ensures you’ll be kept informed if a closing date is set for o ers. An informal note (such as phoning the agent yourself) shows interest but doesn’t carry the same weight, and you may not get the same level of updates. Submitting a formal Note of Interest through your solicitor is usually the best way to protect your position and stay in the loop.
FIND A SOLICITOR
When you’re ready to move forward with buying a property in Scotland, one of the first steps is to instruct a solicitor to act on your behalf. Your solicitor will handle the legal side of the purchase, including submitting o ers, negotiating the missives (the binding contract), carrying out all necessary checks, and registering your ownership with Registers of Scotland. Choosing the right solicitor is important, and while you are free to select your own, we work closely with trusted local solicitors who are experienced in the Scottish property process and can confidently recommend them to make your purchase as smooth as possible.
SUBMITTING AN OFFER
An o er to purchase a property may initially be intimated verbally to the selling agent to register interest; however, for it to carry legal weight, it must be formally submitted in writing by a solicitor acting on behalf of the purchaser. It is very important to understand that in Scotland a property can only be bought and sold in writing, so that “verbal agreements” mean absolutely nothing unless followed by a legally binding written contract. The written o er will specify the proposed purchase price, date of entry, and any conditions, and it forms the basis of the subsequent legal process.
CLOSING DATE
A closing date is e ectively a blind bidding price competition. If there are two noted interests or more, and each party is in a position to make an o er, a closing date may be set. When the closing date is set all interested parties are given the opportunity to submit their sealed written o ers on a specific date and at a specific time. Normally, the seller will accept the highest o er, but the potential buyer’s position can also play a significant part in this.
THE KEY COMPONENTS A HOME REPORT
THE MISSIVES
The word “missives” is simply a Scottish legal term for a contract for the purchase or sale of a property. The missives usually comprise of the o er on your behalf, followed by an acceptance from the seller’s solicitor. This acceptance is usually qualified. This simply means that some parts of the o er need to be amended or clarified. In turn further qualification may be required on your behalf. However, at some point a final acceptance will pass and will therefore create a legally binding contract.
THE DISPOSITION
This is the document signed by the seller which transfers ownership of the property to you. If you are purchasing with another person, e.g. your spouse or partner, you must decide whether you simply wish to own half the property each, or alternatively if you wish for your half to pass automatically to that person in the event of your death.
EXAMINING THE TITLE DEEDS
In Scotland, solicitors examine the title deeds to a property after an o er has been accepted and missives are in progress, as part of the conveyancing process. This examination involves checking that the seller has a valid and marketable title, confirming the property boundaries, and reviewing any burdens, conditions, or rights a ecting the property, such as access rights, servitudes, or restrictions on use. The solicitor will also ensure there are no legal issues - such as outstanding securities or defects in title — that could a ect the purchaser’s ownership. Only once the title is confirmed as satisfactory will the transaction be allowed to proceed to settlement.
STANDARD SECURITY
The Standard Security is the document which secures your mortgage and entitles your lender to repossess the property in the event of default by you. This requires to be signed prior to the request the loan funds from your lender. The Standard Security gives the lender the ultimate power to sell the property if you fail to make your payments on your loan. There are additional terms within the standard mortgage conditions which you must also agree to abide by. These will normally be detailed in the documentation furnished to you by your lender.
REGISTRATION DUES
All title deeds are registered at Register House in Edinburgh. The charge which applies depends on the value disclosed in the deed.
SETTLEMENT DAY
Please note, there is never any guarantee at what time on the date of entry you will be able to pick your keys up from the Estate Agent selling the property. Slight delays on the day can sometimes happen, for example, receipt of loan funds or the selling solicitor being unable to settle. If you wish to arrange for furniture removal at a particular time, please bear this “variable timing” in mind. It is often best not to arrange for any deliveries to be made or tradesmen to attend until at least one day after settlement is due, to allow for unforeseen di culties.
TITLES
After settlement of your purchase transaction, your solicitor will attend to the registration of your title deed. Several months (more complex cases) may elapse before the return of your registered title deeds. Where there is a mortgage, you will not receive the title deeds as your solicitor is obliged to forward the titles to your lender for storage. However, if there is no secured lending over your property, your solicitor may be happy to retain your title deeds in their Deeds Store for safekeeping.
AND FINALLY...
We understand that buying a house is one of the biggest investments you may make, and it can be a stressful time. At REMAX Property Marketing we will always do our best to progress our transaction as smoothly as possible. Our team are always on hand to answer questions you may have throughout the buying process.
