Scotland FTB - buying outright, advice needed.

googler

WellKnownSid wrote: »

I recently discovered, having concluded the missives on the house I'm living in now, that the agent 'offered' my house to our new neighbour.

Your one instance doesn't show any endemic trend of malpractice, surely?

WellKnownSid

googler wrote: »

Your one instance doesn't show any endemic trend of malpractice, surely?

It happened again two years later...

fart

WellKnownSid wrote: »

It happened again two years later...

How often do you move?

Conveyancing solicitor is about £3-600 round here.

Should i be haggling on the price of fees seeing as a lot of them seem to include 'lender instruction charges' which i'm obviously not going to need?

googler

fart wrote: »

Conveyancing solicitor is about £3-600 round here.

Should i be haggling on the price of fees seeing as a lot of them seem to include 'lender instruction charges' which i'm obviously not going to need?

Typically £800-900 round my way, for a high-street firm.

If they've quoted a certain figure including lender's stuff, then all you do is deduct that from the figure quoted, surely? And as you hire them, make it clear again that you are truly buying with cash, and won't be paying it, etc etc

googler

WellKnownSid wrote: »

It happened again two years later...

Yet we're still unclear what actually happened ... or am I the only one?

goosander

googler wrote: »

Define 'accepted' - had your solicitor received a written acceptance from the seller's solicitor?

Yes, my solicitor had written acceptance.

googler wrote: »

Given the situation you outline, the Scottish Law Society instructions/practice notes to their members are clear - if the seller has accepted an offer from one party, and then instructs their solicitor to accept a second offer without the first buyer having withdrawn theirs, the solicitor should cease to act for the seller.

It's debatable what legal status that has, but...

Probably none, but even if it did I would presumably have to sue the solicitor concerned and that cost a fortune for little chance of success.

fart

googler wrote: »

Typically £800-900 round my way, for a high-street firm.

If they've quoted a certain figure including lender's stuff, then all you do is deduct that from the figure quoted, surely? And as you hire them, make it clear again that you are truly buying with cash, and won't be paying it, etc etc

Thanks googler - you've been a god send

I_have_spoken

If it is a repo, I can see the seller going to sealed bids as the quickest way of getting to a best price.

IMHO being a cash buyer isn't such a big differentiator to sellers in Scotland.

WellKnownSid

googler wrote: »

Yet we're still unclear what actually happened ... or am I the only one?

Missives concluded on the house we were buying. 'Next door' was sold in the meantime. Vendors solicitor / agent offered our house to next door's buyer ('would they like to buy our house as well, as it hasn't actually completed yet?').

Fast forward two years, buying another property - discover it's still being actively marketed after missives concluded.

Apparently, it's the area - it goes on all the time, especially if developers are involved. Works both ways of course. Our solicitor has already told us if we ever want planning permission for something we just need to call builder M...

fart

I_have_spoken wrote: »

If it is a repo, I can see the seller going to sealed bids as the quickest way of getting to a best price.

IMHO being a cash buyer isn't such a big differentiator to sellers in Scotland.

Why not? Cash is cash wherever you go surely?

We don't have to faf around with half the work someone with a mortgage would have to. Funds are ready and waiting, solicitor has to do less work etc etc. I'm sure if it's a repo they won't care that it's cash because they want to recoup the most money on it possible, so won't mind waiting an extra 4-8 weeks or whatever. But being a chain-free cash buyer would make a difference if we were bidding for an occupied house, same as it would anywhere - people want things done as swiftly as possible, especially if there's no chance of funding etc falling through.