Guide to Scottish Conveyancing - HBC™ Conveyancing

Guide to Scottish Conveyancing

Edinburgh Conveyancing Fees

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A Few Questions Answered . . . Before We Start

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesWill I be expected to know the basics? – The simple answer is no. Many of our clients are first time buyers or have not moved home in years. Our success is the fact that your lawyer’s day job is taking you through the process.

 

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesI am really nervous, how can you help? – It is natural to get a little apprehensive, we understand this. Don’t worry, it’s not your job to drive the process and be the expert. You will be taken through the whole transaction step by step at a pace that suits you.

 

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesIf I find a house I want, can you do the rest? – You’ll need to sign some documents and make a few decisions. But yes, all the technical ground work and checks will be done and then set on a plate for you. We make it as easy as we can.

 

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesDo I need to check all the Documents and deeds? – No, your lawyer will check the deeds, reports and if required the surveyor or bank will be approached on your behalf. We know want to look for and as said before you have the final decision, you are always in the driving seat.

 

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesDo I need a mortgage before I offer for a house? – No, but you will need to look into the basics (mortgage in principle). On a practical point you don’t want to offer for a house unless you know its within your budget, best check. (We can help)

 

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesHow many houses can I offer for? – We want you to get the house you want not the third one on your list, so there is no charge for making offers. There is also no limit on the amount of offers you can make but you can only offer for one at a time. (unless you want to buy more?)

 

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Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesWelcome to our comprehensive guide to Scottish conveyancing on the various stages and terms you will encounter. We also provide practical tips and advice on how to buy and how to sell property. Both of these HBC™ ‘How To Guides’ are designed to help you save money and help you understand the negotiation process. Our below Guides to Scottish Conveyancing are worth scrolling over before you make any decision. We have included Guides to Purchasing and Selling (Scots Law) and will bring you more Specialist Guides to equity and asset protection soon. If you wish information on English Law please refer to our sister site HBC England or call.

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesKnowledge without application can be the greatest waste. Once you have read our guide to Scottish conveyancing, please remember to have a look at our guide to negotiation. Hopefully armed with knowledge you can take the first steps to negotiating yourself a great deal and save thousands of pounds. If you want further help or a quick quote, they great. …. Interested to see what the costs of moving are?

The Legal Information

Offers Over


HBC-First-HomeConveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesThis option tends to be the one which is used by most sellers. As a guide to Scottish conveyancing the seller may hope to achieve a final sale price that exceeds the offers over figure. This can lead to confusion for a prospective purchaser to know exactly what they might require to pay for a given property. This has been simplified by Home Reports which provide a valuation of the property prior to offer being submitted.


Offers around/in the region of

As a guide to Scottish conveyancing this option may mean that the seller is willing to accept less than the quoted figure. This may be the case if the property has been valued under the price the seller is asking for, or if the seller is looking for a quick sale.

Fixed price

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesThe seller is indicating that they will accept a particular figure, but it is worth noting that this is not a legal obligation on the seller, and also offers can be still be made.Closing-Dates-Stamp

Once you have found a property and as a guide to Scottish conveyancing, then it is important to contact your solicitor so that either a ‘note of interest’ can be made (which lets the estate agent know you are interested in the property), or so your solicitor can put in an offer for you.

The offer will consist of the amount of money you want to pay for the property and also what you would like to be included in the property. For example, movable items such as curtains, cookers or carpets; and fixed items, for example wardrobes. Your preferred date of entry would also be included.

 

 

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What happens next

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing fees Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesIf the property is going to a closing date, this means there is more than one interested party. Offers are then sent to the estate agent by your solicitor at a specific time on a certain day. Once all the offers have been received by the estate agent and as a guide to Scottish conveyancing they will, after speaking to the seller, contact the successful buyer’s solicitor and verbally accept the offer. The successful offer need not be the highest value offered as there is no legal duty to accept the highest or even any of the offers.

The seller’s solicitor will then issue a qualified acceptance and exhibit the property titles and any associated papers to the buyer’s solicitor. There is no legally binding contract at this point.

The conveyancing matters will then be dealt with by the solicitors. As a guide to Scottish conveyancing the buyer’s solicitor will examine the title and plans and ensure that the property belongs to the seller, reports will be ordered and checks will be made. Any certificates will be collected and any planning permissions for alterations obtained. The buyer will receive a copy of the title deeds to satisfy themselves that this is the property they are buying. When the buyer’s solicitor and the seller’s solicitor have agreed the terms of the qualified acceptance on your instructions, they will conclude missives, again on their client’s instructions. This is the ‘Concluding Missives’ that buyers and sellers look forward to, and is now a binding contract for both parties.

On the date you get your property

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing fees Once the date of entry arrives the buyer’s solicitor will exchange funds with the seller’s solicitor and the keys are released to the buyer. So please have your mobile ‘phone charged!

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing fees

 

 

A guide to Scottish conveyancing

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesBelow is the advice given by The Law Society of Scotland. Solicitors can ease the strain and help to avoid the pitfalls of the complete house-buying process, from noting interest in a property to concluding the deal. Their local knowledge can also be useful in helping you find a property.For a more detailed description of the process, please download our Buying a property information sheet.

Closing-Dates-Stamp

The first step

A solicitor can ‘note interest’ in a property you like. This shows you are interested in the property and want to be kept informed of developments, such as the fixing of a closing date for offers.

 

Information about the property

 

 

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesSellers must provide a home report for buyers. These include a single survey (which gives the condition and value of the property), an energy report (which contains a house’s energy efficiency rating and carbon dioxide emissions) and a property questionnaire (which includes general information such as a property’s council tax band, factoring arrangements, the existence of any local authority notices and information about alterations that have been made).A surveyor instructed by the seller will provide the survey contained in the home report pack. In many cases this will be sufficient for an interested party to submit an offer. However the potential buyer may have to commission another survey at the request of a mortgage provider or if the original survey was carried out some time ago. Your solicitor can provide further details and advice.

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Arranging the loan

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesThere are many types or mortgages available, which can be confusing. Some solicitors can offer advice on what is best for you and then arrange the loan.

 

Making an offer

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesA formal offer to purchase in Scotland is a complicated document containing a number of clauses for your protection. Your solicitor will prepare and sign this document for you and give guidance on offer price and other conditions.

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Negotiating the purchase

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesFurther negotiations are likely after an offer has been accepted, for instance, the date of entry, details of additional items included in the sale and issues such as permits for alterations.

 

Checking and transferring ownership

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesYour solicitor can advise on any ‘title burdens’, or conditions that must be obeyed by the owner, such as common repairs, rules on keeping animals or uses for the property. A new title deed will then be prepared and signed by the seller, transferring the title into your own name.

 

Other matters

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesYour solicitor will be able to give you advice about other important matters, such as insuring the property and its contents and drawing up a will, which is highly recommended. Also, he or she can provide you with a quotation for the cost of the house-buying process, including legal fees.

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Selling a property

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesMost solicitors can handle the sale of a property from start to finish, including advice on advertising and the conveyancing. It is best to consult a solicitor even if you are selling a property yourself.

 

Home reports

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesSellers are required by law to provide a home report for buyers. These include a single survey, an energy report and a property questionnaire. Your solicitor can provide further details and advice.

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Negotiating the sale

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesYour solicitor will negotiate the selling price and other matters – such as the date of entry – before negotiating and accepting any offer to purchase on your behalf. This exchange of letters signed by the solicitors is referred to as ‘missives’. Once their terms are finally agreed, there is a concluded and binding contract.

 

The paperwork

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesFurther checks have to be carried out by solicitors after an offer has been accepted, for instance, in relation to building work or repairs. Then new title deeds can be drawn up transferring ownership of the property. Your solicitor can take care of all this, while also collecting the money from the sale, arranging to discharge and repay your existing mortgage if you have one and, if necessary, arranging for the surplus to be put towards the purchase of your new home.

 

After the sale

Your solicitor will also be available for advice after the deal has been completed.

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Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing feesThe introduction of home reports in 2008 marked a major change in how properties are bought and sold in Scotland. Buyers and sellers should be assured that the professionals involved, solicitors and surveyors alike, are regulated by their membership organisations – the Law Society of Scotland and the Royal Institution of Chartered Surveyors. This should reassure members of the public that they can access sound and impartial advice when buying or selling a property.

 

We hope that our guide to Scottish conveyancing has been of assistance to you.

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The Basics

 

legal guidesFirstly – We are here to help, we move thousands of buyers and sellers each year. Don’t worry, it might seem complex and daunting but remember you don’t do all the work. We will take you through the whole process, step by step.

The start – It’s best to have a quick informal chat. If you are organised great, if not we can set out the points to get you started. We will clear up ANY questions you have at this stage: getting a mortgage; understanding surveys; and how to offer for a property. You ask, we answer.

Preparing – Don’t get overly concerned about getting the timing right or worried about what comes first! Your not necessary to be an expert, 99% of the work is done for you. It’s not for you to check surveys, order your funds, negotiate contracts and money. We’ve got the technical side ‘nailed’.