Selling your Home in Scotland – Solicitor
Selling Your Home in Scotland
When you sell your home, you want to make sure you receive the best possible price for what is your biggest asset. The best conveyancing solicitors will make sure your property is marketed to guarantee you the best possible price and the quickest possible sale.
Putting your home on the market
At Complete Clarity Solicitors, our conveyancing lawyers and estate agents can help. Our expertise allows is to guide you through the process as quickly as possible, to sell your home as quickly as we can and to get you the best possible price.
When selling a property, there are several things you should ask:
- How much is my property worth? How do I value my property?
- What is the best time to sell my property?
- Should I sell or buy first?
We will listen to your instructions and advise you throughout the process. We’ll advise you as to how best to market the property and what price you can expect. We’ll advise you on what offer you should accept if there is more than one. We’ll negotiate with the buyer’s solicitors (the process known as the missives) and we’ll complete and settle the transaction for you.
We’ll make sure we keep in constant touch with you throughout the process and keep you up to speed at all times.
The Home Report
Before listing your property for sale, you must also complete a Home Report. This consists of a Property Questionnaire, an Energy Report, and a Single Survey, and our property team will gladly assist you with the undertaking. Copies of the Home Report will be furnished to prospective purchasers who register with us. However, should you prefer not to have copies of the report sent to any individuals, you may provide us with the contact information of that individual.
A detailed survey of your property is conducted by a surveyor, the Single Survey provides information regarding its condition and value. In addition to an Energy Efficiency Rating, the Energy Report offers practical recommendations for reducing petroleum expenses and improving residential energy efficiency. You will be required to complete the Property Questionnaire, which contains inquiries regarding, among other things, alterations, factoring expenses, and council tax banding. This form must be completed with the utmost attention and precision. The purpose of the Home Report is to furnish the prospective buyer with comprehensive details regarding the house and its operational expenses before the exchange of an offer to purchase. You are not obligated to accept an offer at the price detailed in the valuation report; however, keep in mind that the buyer will have access to the report and will factor it into their budgeting process.
How your home will be priced – Potential buyers
Determining the worth of one’s residence can present a challenge; in this regard, the expertise and experience of our property department can prove instrumental. With our access to sales records and understanding of the local market, we are capable of providing recommendations regarding the optimal marketing price for a property and the anticipated proceeds from a sale. Please keep in mind that prices are subject to change, and we cannot guarantee that you will obtain a specific price. However, you may be astonished at the results if you present your property in an aesthetically pleasing manner.
The majority of properties are marked as “offers over.” This indicates that you anticipate a price greater than the one specified in the sales materials. Should several individuals demonstrate an interest in the property, you might consider establishing a closing date. All interested parties submit formal legal offers by the deadline, and you are at liberty to select your preferred offer. It is important to note that you are not obligated to accept any of the offers and may instead opt to withdraw the property or return to the market. However, unlike in England, it is not possible to pit one bidder against another.
A ‘fixed price’ listing may be more suitable if you are in a hurry to sell the property. Subsequently, the first clean, legal offer for the property at that price should be accepted; therefore, you should exercise caution when determining the asking price. Examine our concise guide to purchasing a home to gain insight into the concerns that potential buyers will have.
After an offer has been made, what happens? – Asking price – Accept an offer
When a prospective buyer is interested in further exploring your property after viewing it, their legal representative will advise them to “note interest.” This notifies us that a potential purchaser is present and may propose an offer. The purchaser may subsequently request a survey before submitting an offer, or they may submit an offer “subject to survey.” If several individuals have expressed interest, we would typically recommend establishing a closing date, or a deadline by which all proposals must be delivered to us.
After you have accepted an offer, the necessary documentation will be transferred to us. We will proceed with composing a written response to the submitted offer by your instructions. It is not uncommon for the purchasing and selling solicitors to exchange multiple letters (termed “missives”) before reaching a consensus on all the contract terms and finalising the agreement. After the agreement has been reached, both parties are unable to retract from the agreement.
If an offer is accepted “subject to survey,” the purchaser will be afforded a reasonable period (typically a few days) to procure a survey and evaluate the resulting report. If any issues are identified through the survey, they have the option to modify their offer or retract it. However, if the survey results are unambiguous, that provision will be removed from the offer and the legal representatives will proceed with the correspondence.
What is the solicitor's role in this situation?
We will begin by reviewing the accepted offer to ensure that it includes the terms and conditions that you require or desire to safeguard your interests. We shall deliberate with you on the offered price, the date of entry, and the remaining provisions, and shall include in the formal response any modifications that you deem necessary or desirable. Whether a purchaser has a property to sell or has secured a loan in advance will determine the time required to execute a legally binding contract.
In addition, we will execute the “conveyancing” process, which entails verifying and preparing formal documents submitted by the purchaser’s attorney, to ensure the transfer of ownership of the property upon payment of the purchase price.
Furthermore, we will coordinate with your existing mortgage provider or lender to ensure that your loan is fully repaid before the date of your entry. Kindly ensure that you provide us with the name and account number of your mortgage lender promptly, so that we may initiate the process of ordering your title deeds. Additionally, please inform us of any additional loans that you have collateralized on your property, as these will necessitate repayment as well.
We will collect the purchase price from the purchaser’s agents on the agreed-upon date of entry, settle all secured loans and sale expenses, and then return the remaining balance to you. Upon receipt of payment, the purchaser will be granted access to the property and be granted the keys.
Contact us for a Free* conveyancing consultation
Our conveyancing solicitors help our clients buy and sell property in Glasgow, East Kilbride, Edinburgh, Paisley, Motherwell, Ayr, Hamilton, Dumbarton and throughout Scotland.
For a Free* consultation with our conveyancing lawyers based in Glasgow, East Kilbride, Shawlands & Edinburgh Scotland, call us today on 0808 178 7292 or complete our online enquiry form and let us help you.
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