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  • FIRST POST
    • joseq7
    • By joseq7 5th Sep 17, 6:25 PM
    • 2Posts
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    joseq7
    Selling Moving Buying Exchange Chronology
    • #1
    • 5th Sep 17, 6:25 PM
    Selling Moving Buying Exchange Chronology 5th Sep 17 at 6:25 PM
    Hiya,

    Can anyone please give me a simple chronology of what happens and in what order when you sell and buy.

    My mother in law is selling in England and buying in Scotland.
    She has agreed to sell her house in England to an investor, with no chain and with the money in place, and she's buying a house in Scotland.

    What's the order of what should happen?

    Sell and hand over keys and start the move from England on the day before buying and getting keys and moving in to Scotland?
    Or do you sell and buy on the same day?
    This cuts things a bit fine doesn't it?

    Help!
Page 1
    • Flat Eric
    • By Flat Eric 6th Sep 17, 7:17 AM
    • 3,937 Posts
    • 23,863 Thanks
    Flat Eric
    • #2
    • 6th Sep 17, 7:17 AM
    • #2
    • 6th Sep 17, 7:17 AM
    The conveyancing process is different in Scotland so I'd suggest she speaks to solicitors who are dual qualified and know both systems

    • davidmcn
    • By davidmcn 6th Sep 17, 9:40 AM
    • 6,068 Posts
    • 5,819 Thanks
    davidmcn
    • #3
    • 6th Sep 17, 9:40 AM
    • #3
    • 6th Sep 17, 9:40 AM
    What's the order of what should happen?

    Sell and hand over keys and start the move from England on the day before buying and getting keys and moving in to Scotland?
    Or do you sell and buy on the same day?
    Originally posted by joseq7
    Ideally you separate the transactions completely (if MIL can stay somewhere else in the interim) so that she has the cash in the bank and can then go house-hunting at her leisure. The main difficulty in juggling the two systems is that in Scotland the expectation is that you "exchange" at an earlier stage in the transaction than is the norm in England, so a Scottish seller may be reluctant to get involved knowing that they might not be in a contract until relatively late (especially if they have an onward purchase). Also the whole process in England tends to be tediously longwinded compared with Scotland.

    The conveyancing process is different in Scotland so I'd suggest she speaks to solicitors who are dual qualified and know both systems
    Originally posted by Flat Eric
    I'm not aware of any dual-qualified solicitors offering residential conveyancing in both jurisdictions - most dual-qualified property solicitors are in the more commercially-oriented firms and probably won't lower themselves to doing domestic property for a reasonable fee. There's no great advantage anyway (other than a bit of time saved in transferring funds), you may as well use local firms in each location.
    • joseq7
    • By joseq7 6th Sep 17, 10:45 AM
    • 2 Posts
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    joseq7
    • #4
    • 6th Sep 17, 10:45 AM
    • #4
    • 6th Sep 17, 10:45 AM
    Hi davidmcn,
    Many thanks for taking the time to reply.

    I should have been a bit clearer.
    She's agreed to sell her house in SE England and has agreed to buy one in Central Scotland.

    I do think you're right that we should try to keep the two deals separate.

    There will be no mortgage required to buy the house in Scotland once the house in England is sold.

    The proposed date for buying the house in Scotland is very end of October.

    My query is..........

    Do you think we should agree to "sell" the house in England the day before we "buy" the one in Scotland, so that the money clears?
    I'm trying to avoid storage.
    Out one day, in next day would be ideal.
    Given the distance we can't do out and in same day.
    • davidmcn
    • By davidmcn 6th Sep 17, 11:56 AM
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    davidmcn
    • #5
    • 6th Sep 17, 11:56 AM
    • #5
    • 6th Sep 17, 11:56 AM
    She's agreed to sell her house in SE England and has agreed to buy one in Central Scotland.

    I do think you're right that we should try to keep the two deals separate.

    There will be no mortgage required to buy the house in Scotland once the house in England is sold.

    The proposed date for buying the house in Scotland is very end of October.

    Do you think we should agree to "sell" the house in England the day before we "buy" the one in Scotland, so that the money clears?
    Originally posted by joseq7
    So she already has solicitors involved for both transactions? What's their advice? Either the selling solicitor will need to transfer completion funds to the purchasing solicitor, or they agree between themselves that the funds can go direct to the Scottish vendors' solicitors. There is more potential for delay if you complete both transactions on the same day, but that's the same even if there weren't a cross-border issue.
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