Complete Clarity Solicitors


First-time buyer guide to purchasing a house in Scotland – Conveyancing 

First-time buyer guide to purchasing a house in Scotland - Conveyancing 

Acquiring a new property can induce feelings of anxiety and inundation. We have assembled a team of seasoned conveyancing solicitors and property negotiators to assist you throughout the entire procedure. Our concise guide for first-time purchasers is as follows:

Establishing a budget

Before anything else, you should ascertain the price range in which you should be interested. To accomplish this, you should consider your available funding sources.

Are you the recipient of a gift from a relative? Do you intend to finance this with funds from an inheritance or by obtaining a mortgage? Have you secured the down payment on your mortgage application? Do you have a preliminary mortgage agreement? Have you considered the registration fees and Land and Building Transaction Tax that are owed to the Registers of Scotland?

In searching for a property

There are numerous outstanding websites where property searches can be conducted. On the Move, ESPC, Zoopla, and Prime Location are some excellent examples. The majority of real estate agents will promote their listings on one or all of these portals. In general, properties that are well-suited for novice purchasers are highly sought after. You might encounter intense competition. We advise that you check daily for new listings and schedule a viewing as soon as possible.

Significant effort and time are required to locate the ideal first residence. The majority of properties that are displayed online will feature virtual excursions, which can assist in the elimination of certain listings. Each property that is available for purchase should be accompanied by a Home Report. If the report is not available on the website, you ought to contact the selling agents for clarification. You must familiarise yourself with the home report’s terminology before scheduling a viewing. Certain properties may necessitate a greater amount of labour than initially perceived from the images.

Remember that purchasing a property is dependent on numbers. Several properties will likely elude your attention before having an offer accepted.

Expression of Interest and Offer to Buy a home in Scotland

Consult with our negotiators after viewing a property for guidance on expressing interest and submitting an offer.

Read the Home Report and discuss any areas of concern with our negotiators before submitting an offer. The safeguards provided by the Scottish Standard Clauses will apply to any offer that we make you regarding the conveyancing procedure. Nonetheless, you should contemplate whether or not you wish to include particular conditions in your offer.

If additional parties were interested in the property, a closing date would likely be established. In essence, a closing date constitutes an anonymous auction. The deadline by which your solicitors must submit your proposal will be communicated to you. Prognosticating the outcome of a closing date is unattainable. Our negotiators are capable of providing you with offer formulation guidance based on recent comparable sales data and analysis of the competition. The effective offer is not necessarily the highest offer at closing dates. Other conditions will be considered by the vendor, and the offer that most closely aligns with those criteria will be accepted.

What's next?

Avoid panicking! At present, you do not possess a legally enforceable commitment to remunerate any party. Establishing financial resources should be your initial objective. Consult a mortgage advisor if you are in the process of obtaining a mortgage. Your formal mortgage application can then be initiated. The necessary documentation to comply with Anti-Money Laundering Regulations will be communicated to you by your solicitor. Whether you are receiving a gift, savings, or an inheritance will determine the answer to this question.

You will be counselled at each stage and your attorney will handle the legal complexities. Before finalising missives on your behalf, they will verify that you are satisfied with the terms of the missives (the contract) and that the necessary financial documents are prepared by the date of entry.  Assigning contractual obligations to complete the purchase at the agreed-upon price and on the agreed-upon date constitutes the conclusion of missives. Nearly at the finish line are you!


Entry date for first-time buyers

The occurrence of concluding missives can vary in time from weeks before your date of entry to mere hours before you receive the keys. The selling agents will release the keys to your newly acquired property as soon as they confirm receipt of the full purchase price. After gaining access, you must restrain your enthusiasm and verify that everything is in the expected condition. Is the premises reasonably sanitary and devoid of any movable items? Open and close all windows, test the heating, and ensure the utilities and power are functioning properly. If any problems are discovered, contact your attorney immediately, as you may be eligible to file a post-settlement claim to cover the cost of any unforeseen damage. The duties and obligations that accompany the status of homeownership.

We anticipate your response once you begin the process of purchasing your first home and trust that this information has been beneficial. With every good intention, our staff assists you in your property search.

Contact us today to speak to a highly qualified conveyancing solicitor