Can someone explain the Scottish property buying system please?

googler

kittiej wrote: »

Hi everyone

Basically I have seen a piece of land with a ruinous building on it that I would like to buy if all goes well, it is in Scotland.

How would I go about making an offer? The EA has a 'register your interest' but do offers have to be made through a solicitor?

Hire a Scottish solicitor to act on your behalf. They can note your interest with the selling agent, and they will also make any offer on your behalf.


What is the next part of the process as the property is sold with x amount to be paid on conclusion of the missives?

Next part of the process from where? After your offer is accepted, or from now?

How long after this conclusion will it take to 'complete'? Can there be a conclusion of missives and completion at the same time?

When the solicitor makes your offer, it will specify the sum you offer, any other conditions, and an entry date. This is the date on which you will complete. Mostly, the entry date remains fixed when the offer is accepted, and you know when you will take possession of the property, although it can be re-negotiated prior to conclusion of missives.

Sorry to sound a bit of a dummy but I live in Wales and have no idea of the rules of buying a property in Scotland - help please

I hadn't read the rest of the thread prior to including the above comments.

You need to consult the local council to establish what you can do with the building. If it's an agricultural building, you can't convert it to residential use without change of use planning consent.

googler

kittiej wrote: »

You've lost me rain shadow I am confused .com

It's a ruined building, not a ruinous one.

googler

warwicktiger wrote: »

This from an Englishman who did live in Scotland. (The words in brackets are to indicate their English meaning)

Largely in Scotland Estate Agent = Solicitor

You see a property for sale, it will either be fixed price (means thats what the seller wants for it, feel free to make an off but unlike England they will probably not negotiate)

If not fixed price it will be offers over £x

Or it could be Offers in the Region of, which is very common these days

If you like it then tel the agent (solicitor)

Which one, the selling agent/solicitor, or the buyer's solicitor?

This is registering an interest.

No, it isn't. A Note of Interest is formed when the buyer's solicitor formally 'notes interest' on behalf of the buyer with the selling agent or solicitor.

When the agent has what they feel to be sufficient numbers of registered interest they will invite written offers with a closing date. (Traditionally noon a week on wednesday)

One possible scenario, but by no means universally applicable in all cases.

You submit a written offer, which is binding if accepted!!
(So you do your survey in advance, often means several people pay the same surveyor to survey the same property!)

No, the solicitor submits the offer on behalf of the buyer. Since 2008, the survey scenario you outline has not existed, since every house for sale has to have a single survey, known as a Home Report. Even before then, standard practice was to tender offers 'subject to survey', and only a successful bidder would have the house surveyed.

In your offer you include your preferred "date of entry" (completion date)

The vendor is free to accept or not any of the offers, does not have to be the highest!

The offers will be in excess of £x, by how much depends on the market, how much you want the property and which way the wind is blowing.

Again, rarely applicable in the current market, bearing in mind Home Report changes in Dec 2008.

However, Home Reports aren't applicable to land purchases, so the OP needn't be concerned with them.

martindow

kittiej wrote: »

Martin I would want to restore it so it looks the same as it once did, externally anyway. Don't really want to say too much in case I jinx it

Thanks Agrinall

You're in Scotland so it may be different. I once looked at some land with a ruined cottage in Gloucestershire. The planning people made it clear that the cottage had been in ruins for years and they would not allow the building to be reinstated.

kittiej

Thanks everyone, I get the ruinous bit now - I was half asleep earlier I think and reading on a phone screen is getting more difficult with age

googler, I have no plans to live there I have other ideas of what to do with it and hopefully would make a living from it and give others an opportunity to earn money as well. I hope to buy another piece of land to build an eco-home but that will come later.

martin, the council seem to be sympathetic towards development but usually ask that the original footprint be the same for the new build. I will email to check though.

Thanks once again.

googler

kittiej wrote: »

googler, I have no plans to live there I have other ideas of what to do with it and hopefully would make a living from it and give others an opportunity to earn money as well.

Thanks once again.

any kind of commercial operation may well still require planning approval, though....