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MacNeill & Critchley |
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Buying Property in Scotland |
MOVING FROM ENGLAND TO SCOTLAND?
Click here for some further information
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Decide what type of property and what size of property
you are looking for. Establish whether you wish to
live in Inverness itself, or one of the adjoining Towns
or Villages, or in a rural location. In doing so,
consider the community and services and schooling and
any other particular factors which apply to you. Check out what is on the market and the current asking prices for properties that meet your requirements. The major seller of properties in the Highlands is Highland Solicitors' Property Centre (HSPC). Most properties marketed by solicitors in Inverness and the surrounding areas are sold through HSPC. HSPC produces a two-weekly Property Guide, free of charge. Look up www.hspc.co.uk for the full listing and further details - (Tel No: 01463-231173). Is the property you are looking for within your price range? Do you require a mortgage? We can suggest appropriate local independent financial advisors or you may wish to contact your existing Bank or Building Society, or any of the other well-known lenders, and ask them to calculate your maximum mortgage. At this stage, we would recommend you make contact with a Scottish solicitor to obtain more general advice about your particular situation. NOW THE DIFFICULT BIT - viewing properties and finding one that you are interested in. Your solicitor will be happy to make enquiries on your behalf and may have some helpful local knowledge. You will probably require, or wish to get a Valuation or Survey carried out on the property. Your solicitor or your lender can arrange this and can also note interest with the selling agents. You are now at the stage of being ready to offer. If you know you have a mortgage agreed in principle, and the Valuation or Survey is satisfactory to you and your lender, you can make the next move. If possible, your solicitor can enter into direct negotiations with the selling agents to try to agree a price. However, if several prospective purchasers are interested in the property, the selling agents may fix a Closing Date at which time all offers for the property are lodged and the seller decides which offer to accept. Your solicitor can advise you more fully regarding these procedures. Once you instruct your solicitor to lodge a formal offer in writing for the property and it is accepted unconditionally in writing, you then have a contract for the purchase (the Missives). In most cases, however, there is some negotiation of the detail of the Missives between the sellers and purchasers, but the Missives should be concluded at as early a stage as possible, even if settlement (completion) is several weeks away. You should be able to make definite plans for your move in plenty of time. After the Missives have been concluded, your solicitor deals with all the necessary purchase conveyancing and will liaise with you (and your lender) to organise the loan funds and your own funds in time for settlement. The date of settlement arrives! The purchase price is paid over in exchange for all the title deeds and other documents and the keys of your new house. |
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Different legal procedures apply in Scotland and England
and there are added factors to be taken into account if
you are selling in England and purchasing in Scotland.
In England, the completion date is not fixed until exchange of contracts and this may be delayed. There are many cases of sales in England being postponed, or even falling through, at the very last minute. If you conclude a contract for your purchase in Scotland, you will be in breach of that contract if you cannot pay over the purchase price on the due date. If you are relying on the sale proceeds of your house in England to pay the whole or part of the price of the house in Scotland, difficulties can arise unless you have exchanged contracts for your sale, or even better, have actually completed your English sale. Otherwise, it may be necessary for you to arrange some alternative or temporary funding for your purchase in Scotland, if that is possible. Contact your Scottish solicitor at the earliest stage possible to discuss the practicalities of your move.
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