Home Buying In Scotland
Buying a home can be a very stressful task. There are many things you need to go through before the purchase can be completed. The first thing you need to do before diving in and making an offer on the house is making sure you’ve seen the home report first. This report will cover an energy report, a survey and a property questionnare which must be commissioned by any the people putting the house on the market. There are some exceptions though. Newly built homes, right to buy homes and properties that have quite recently been changed into a residential property don’t need to commission home reports.
It’s common in Scotland to request as much information about the property in general before they come to the decision of making an unconditional offer or not. Also, it’s popular to offering less than the asking price if the place has been on the market for a considerable period of time.
‘Offers over’ mean that a date will be set where bids will need to be accepted and the seller will decide which bid is the one they should accept. Bids should be based on market value and the state of the property. Your legal team will make the offer on your behalf.
Gazumping ( which isn’t common) is when a bid higher is accepted once your negotiations with the seller. Once all the terms of the agreement have been accepted then it’s a binding contract than can’t be torn up.
On the date of entry, this is when you transfer the whole balance over to the seller. This is called completion of the purchase. Only new build properties should be paid in full before this time.
if you’re looking to buy a new home, or looking for your very own new house build, there are many reputable companies available.