home report help

The house buying process in Scotland is slightly different to the rest of the UK. If you are buying a property in Scotland you need to have a good understanding of the process in order to make getting the property you want as straightforward as possible.

Let’s take a look at the different aspects of the house buying process in Scotland. Factors to consider include home reports, how to put in an offer, concluding the missives and settlement.

Making an offer on a property in Scotland

Most of the marketing of properties in Scotland is done by solicitors. They list properties as a fixed price or at an “offers around” or “offers above” price.

If you are interested in a property that has been advertised as “offers around” or “offers above”, there is a process that you need to follow. You are required to submit a sealed bid for the property, by the given date.

Your solicitor will work with you to prepare the bid, which should include details of the price you are willing to pay as well as other details, including when you will be able to move into the property. Your solicitor will then pass the bid to the seller’s solicitor. Then it’s just a question of waiting to see whether your bid has been successful.

What to expect from your solicitor

When you are buying a property in Scotland there are certain tasks that your solicitor is expected to do for you. As well as helping you to prepare any necessary bids your solicitor should also:

  • Take you through the home report for a property, providing explanations where necessary.
  • Check that planning permission was granted for any alterations that have been made to the property.
  • Confirm your mortgage with your lender if your bid is successful.
  • Agree a date of entry to the property.
  • Deal with all of the legal aspects of the sale process.

One vital task that your solicitor will complete is to conclude the missives. Let’s take a look at this in more detail.

Concluding the missives

Concluding the missives is the stage of the Scottish house buying process when contracts are agreed. It’s at this point that the sale becomes binding for the buyer and the seller. The process of transferring ownership of the property begins at this point.

Date of settlement

The settlement date is agreed in the contract. It’s the date on which you will move into the property. It’s also the date on which the purchase price is due to be paid.

On this date your solicitor will register the change of ownership and lodge a copy of the deeds with your lender. They will also pay any Land and Buildings Transaction Tax (LBTT) which is due.

This tax is payable for first time buyers if the price of the property is £175,000 or more. For people moving to another home this tax is payable if the price of the property is £145,000 or more. For anyone buying a property to let, or as a second home, this tax is payable if the property price is £40,000 or more.

The Home Report

One vital factor in the property selling process in Scotland is the completion of the home report. If you are looking to buy a home in Scotland you should have access to the home report for any property that you are interested in. This will not apply if you are looking to buy a new build or a property that has recently been converted to residential use.

The home report consists of three parts, a single survey, an energy report and a property questionnaire.

The single survey.

The single survey contains a valuation of the property. It also contains an assessment of the condition of the property. This does not prevent you from having a more detailed survey carried out before you decide whether you want to bid for the property.

The energy report.

Taking a look at the energy report allows you to see how energy efficient a property is. You can also see what the situation is regarding carbon dioxide emissions.

The property questionnaire.

The property questionnaire is completed by the seller. It contains all of the information that is useful to know about the property. For instance, the questionnaire may include information about which tax band the property falls into and whether there is parking available.

Home Report For You provides a comprehensive and quick home report service. This service allows buyers and sellers to navigate the Scottish house buying and selling process more easily. Having the information that you need, you should now be more prepared to find the perfect property for you.