Scotland V England

Auzelia

What would you say is the main difference in house buying with the above two countries.

I read here people saying that they put the offer in to the seller.

I had to put my offer in via a solicitor.

Then something else I see popping up is the Tenure. Freehold and leasehold etc.

I think 99% of the properties I looked at up here are freehold.

Sorry for my ignorance but what is the difference and why, also why is there such a difference in house buying between the two countries?

Answers on a postcard please :rotfl:

theartfullodger

Could you clarify where you are trying to buy?? (Presumably Scotland).

As someone who has bought several times in both countries, in my 'umble experience, in Scotland the system is clearer, quicker & more fair.., the people (in general... there are a****es everywhere) nicer and more pleasant and the views better (when it ain't raining..). Most Estate Agents are also Solicitors (but not all) so beware Solicitor acting for both parties/having anyway an interest in the sale happening. I always use a solicitor who ain't the estate agent. In England the advantages are... err..., dunno, when I find out I will re-post...

Cheers!

Lodger

Auzelia

lol..

its in scotland im buying, and I already had hassle with my first solicitor who forgot she was also the solicitor for the vendor. But that is all sorted.
My solicitor now doesnt deal as an estate agent so that is good I suppose.

Im in the final stages now.
Just waiting on Mortgage to come through.

When do you exchange? Is that when the solicitor sends you documents stating the completion date etc.

Its all so confusing

Jowo_2

I agree with the artful lodger that Scotland has the better system that discourages time-wasters (once the purchase is agreed, it's hard to withdraw from without penalty) and which doesn't suffer from the guzundering, gazumping and chains that collapse when people withdraw from the sale.

There's two main ways to sell a property - offers over, where the buyer puts in a notice of interest and is notified of the closing date to put in a sealed bid over the minimum sale price. Highest bidder wins.

This is frustrating for some buyers who may have to put in multiple bids on different properties before theirs is the best but at least, when their offer is accepted, the chances of the sale going through are very high.

Second way is 'fixed price' - basically, which ever seller offers to buy it at that price (or a discount if the buyer is willing to negotiate) gets it. It's first come, first served.

There's very little wiggle room for either party to change their mind once an offer is accepted. That's the main fault with the English system.

Auzelia

Well the property was Fixed price of £70k (was £75k) but was lowered.
Valuation came in at £68k the property got left behind in the 70's so offered £64k and this was accepted.

Its just the final hurdle that is stressing me out

So with regards to gazumping etc. That can't happen in Scotland?

Hintza

Property is yours now unless you default and then you will lose any deposit yoiu have paid.

Auzelia

yay

Thank you !

DVardysShadow

Jowo wrote: »

... There's very little wiggle room for either party to change their mind once an offer is accepted. That's the main fault with the English system.

So where does the survey come in in Scotland? Searches? Mortgage approval?

Auzelia

the home buyers report

iscrimger

Auzelia wrote: »

the home buyers report

A lender doesn't have to accept that valuation, it varies from lender to lender but you could have to get a second valuation done for the lender. It seems you have passed this stage.