Buying a property in Dundee, Scotland

Loopgames

I don't know how the Scottish system works but I am looking a property to purchase in Dundee.

Does anyone have advice on the best area to buy in and what I should expect from the system e.g. do I employ a solicitor first before I approach estate agents? I may be working near university there but are they all expensive. I have 2 kids.

HAMISH_MCTAVISH

Dundee is one of the cheaper places to buy in Scotland, so you should be able to buy something decent for not a lot of money.

As with all towns, there are good and bad parts to live. You'd have to ask a Dundee native, but in that regard you'll usually get what you pay for.

Yes, appoint a solicitor first as you'll need them to make offers on your behalf, and make sure you have your finance secured before you start offering.

The following sites may be of use.

https://www.tspc.co.uk

http://www.ros.gov.uk/professional/eservices/land_property_data/lpd_stats.html

Loopgames

So can I still approach agents to view properties and then appoint a solicitor once I am in position to give an offer?

HAMISH_MCTAVISH

Loopgames wrote: »

So can I still approach agents to view properties and then appoint a solicitor once I am in position to give an offer?

Yes.

You'll need the solicitor to make the offer on your behalf, as the offer is part of the missives if accepted.

"Missives is the term applied to the exchange of a series of letters between solicitors comprising a formal offer, qualified acceptance and other letters which are exchanged leading to a conclusion of a bargain, in other words the letters that go to make up the contract for sale. In Scotland the contract letters are normally signed by the Solicitors, not the purchaser and seller themselves."

And don't forget most properties are sold through solicitors, estate agents have only a small percentage of the market in Scotland.

Also the market in Scotland is heavily seasonal, so bear that in mind when looking at pricing.

agrinnall

If you are definitely going to buy I would find a solicitor early on so that it's one less thing to worry about when you find somewhere that you want to make an offer on.

I haven't looked at the Dundee housing market but in most places in Scotland for the last couple of years the traditional 'offers over' system has died, being replaced by 'fixed price' or 'offers in the region of', both of which really mean you should offer less than the asking price. If you are after a particularly desireable property it may still go to a closing date and sealed bids, in which case it's in the lap of the gods, but most people are happy to have one buyer these days.

Loopgames

I'm going to try short term lets first over a few months. I'll get an idea over the summer months what is available.

Loopgames

agrinnall wrote: »

If you are definitely going to buy I would find a solicitor early on so that it's one less thing to worry about when you find somewhere that you want to make an offer on.

I haven't looked at the Dundee housing market but in most places in Scotland for the last couple of years the traditional 'offers over' system has died, being replaced by 'fixed price' or 'offers in the region of', both of which really mean you should offer less than the asking price. If you are after a particularly desireable property it may still go to a closing date and sealed bids, in which case it's in the lap of the gods, but most people are happy to have one buyer these days.

Looks there are still quite a lot of properties advertising 'offers over' in Dundee.

Ransoman

Loopgames wrote: »

Looks there are still quite a lot of properties advertising 'offers over' in Dundee.

Read the Sellers survey on any property before making an offer. The survey includes a valuation and should be used as a guide for how much to offer, but don't be afraid to offer less.

Mortgage companies use this valuation so don't offer any more as it will increase your LTV.

googler

Loopgames wrote: »

So can I still approach agents to view properties and then appoint a solicitor once I am in position to give an offer?

No, hire the sol first, then go viewing. If you find something you really like and want to act quickly, you want to have the sol ready to note your interest in the property, and potentially offer straight away.

If you haven't done this, you'll have the delay whilst you hire the sol, they send you terms of business, you approve them, they take your ID (which sounds as though that may be done long distance), and when all that's done, they start work for you.

googler

There's link to a capsule guide to the Scottish system in this thread

googler

Loopgames wrote: »

Looks there are still quite a lot of properties advertising 'offers over' in Dundee.

As the previous poster said, compare the Offers Over price with the valuation in the Home Report.

Depending on your finances, you may not be able to offer above the HR value. The HR will be sent to your lender, and the valuation will be the limit on what they'll lend you. If you're totally reliant on mortgage finance to buy the house, that will be your limit. If you have extra cash in hand, you need to factor that in.