Please can we have the Scottish System in England

jonnyd281

Please can we have the Scottish System in England where a buyer is commited once an offer is accepted on a property.

We have just had the most annoying potential buyer, in Jan she first viewed the house and was very rude about it stating that the property was of inferior stock and she could get a much better property for less than £100K (get real I live in a village in Norfolk - you can't get a flat for less than £110K), and she offered half the asking price. The agents didn't even bother and told her the offer was not acceptable.

Fast forward to March and she wants a second viewing, we here nothing for two weeks and the following sequence on the Tuesday:

• she offers £108K - answer no
• she requests a second viewing - answer ok - booked for last Thursday
• she then offered £115K (on the tuesday)
• I accept the offer on the Wednessday
• Thursday comes - shes a no show for the viewing
• Friday call agents and ask for the surveyor to be booked for next week (since she has history of saying yes then changing her mind) who say she has no good reason for missing the viewing and she can't decide whether or not to buy my property by next week and would need to view for a 3rd time anyway.

As you can guess she has really wound me up - She could easily have cost me lots of money since we aren't looking until we sell (not fair on whoever we buy from otherwise) and when we accepted started looking -if she had pulled out after we had an offer accepted..

And breath....

Grrr. Not a happy badger as you can imagine.

So can we have the Scottish System down here.

PasturesNew

I've still never found out how the Scottish system works.... how can it be binding when the buyer doesn't even know if that house is mortgageable to them.... our delays are for searches, surveys, mortgage offers, checking questions/problems ... how does that work in the Scottish system then?

SP123_3

In the Scottish system the offer isn't legally binding until the conclusion of missives. So must people offer subject to survey. Once the survey is done the legal side begins. Once the negotiations are completed the missives are concluded and the deal is legally binding.

googler

This is a good summary, and will save me a lot of typing.

In essence, the offer - in writing - forms part of the contract under which the house is bought. It used to be that before an offer was made, the viewer/buyer would have the survey done, then offers were made 'subject to survey', so that only a successful bidder would need to have a survey done. Now Home Reports are expected to provide one survey to all viewers/buyers. If the house isn't mortgageable the HR will say so.

Typically, buyers making offers are expected to have finance in place - most solicitors will ensure this so's that they're not wasting their time with offers that don't go anywhere.

The exchange of letters, or 'missives' between solicitors are where title is checked, searches done, etc - and if these prove unsatisfactory, then buyers can withdraw at any time.

CloudCuckooLand

Oi, stop thief!

To the OP, I wouldn't have let her back near the place after offering half. Timewaster.

PasturesNew

Well, I can't see the difference between the Scottish missives and the English exchange of contracts.

eco-friendly_2

"she has history of saying yes then changing her mind"


Haven't they all

eco-friendly_2

PasturesNew wrote: »

Well, I can't see the difference between the Scottish missives and the English exchange of contracts.

I'll try and explain,

1 Buyer finds a property to purchase

2. Contacts a solicitor to make the offer, their finances will be checked out

3. HR or the offer will be 'subject to survey

4 . 'Qualified acceptance', arguements relating to the conditions of sale, usually completed within 28 days

5. Followed by a 'final acceptance', usually within 14 days, 'completed bargain'

either side pulls out, civil action can be taken.

PasturesNew

eco-friendly wrote: »

I'll try and explain,

1 Buyer finds a property to purchase

2. Contacts a solicitor to make the offer, their finances will be checked out

3. HR or the offer will be 'subject to survey

4 . 'Qualified acceptance', arguements relating to the conditions of sale, usually completed within 28 days

5. Followed by a 'final acceptance', usually within 14 days, 'completed bargain'

either side pulls out, civil action can be taken.

That still seems to be the same as England to me. You can do it in England that quick .... if there's no chain and there's no nasty surprises in the survey.

So, what's different ...?

What happens in Scotland if there's a long chain?

2010

AFAIK in Scotland a house is "valued" at say £100k and then buyers have to put in a "sealed bid" about 10 to 20% ABOVE the asking price.
This seems a totally crap system to me.

When I used to go house hunting my thought was always to offer UNDER the asking price.
I can`t see me ever buying one in Scotland with their system.

Feel free to correct me if I`m wrong.

bandofbrothers

In parts I agree that the Scottish system is better than the english.

My adventure was.....

Offer of £90k accepted on my property, up at £95k before a proper viewing.
My 1st mistake.

After viewing offer of £64k made as they wanted to do major works within.
After laughing my !!! off I declined the offer.

2nd viewing requested which I attended to work this buyer out.
Day after offer of £85k made which after deliberation I accepted.

Buyer then drags their heels in going through all the hoops needed to buy.

After 3 months they eventually sign at their solicitors for the mortgage.
All agreed and drawn down except for the contracts signed and mortgage deposit to be paid.

This buyer requests a 2 week turn around to be in the property.

I make this happen and then they go off the radar !
Not returning calls, e mails or letters from my estate agent or their solicitor !

After all the cost for them to get to this stage they go underground !

Thats life i suppose.

My advantage is that the mortgage is fully paid. Its a second property so im not in a chain waiting to move.