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how does this process work in scotland
charmaine
Posts: 70 Forumite
Got a call from my estate agent at 4.30 pm to say she has received an offer in for my house. People wanting to buy have just put their house on the market ( hopefully should sell ok as it's popular area) what happens now?? when can I get my SOLD sign up! Once I accept the offer and they do their survey is the house sold or do I have to wait til her house sells before mines is classed as STC
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Comments
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Your estate agent or solicitor can get the sold sign up once you accept the offer. You don't need to wait for them to sell - it's not your problem once they sign the missives.
The sold sign in itself doesn't really mean much - a sell can still fall through at any point until the missives are concluded.0 -
The sold sign in itself doesn't really mean much
I know but be glad to see it up and let all the nosey neighbours around have something more to talk about lol though i'd be gutted if it all goes wrong
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as i understand it in scotland once they agree to buy it and the surveys done its a legal contract, neither party can pull out unless both agree kind of like a legal contract vs england where its just a gentelmans agreement till the day of the sale.0
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as i understand it in scotland once they agree to buy it and the surveys done its a legal contract, neither party can pull out unless both agree kind of like a legal contract vs england where its just a gentelmans agreement till the day of the sale.
The missives are generally concluded (equivalent of exchange of contracts) much more quickly in Scotland often within days (especially if 'standard' missives are used) of the offer being accepted.0 -
Once the " Qualified Acceptance " has been agreed between both parties, the deal is done in Scotland . Those who pull out after that, get their A$$ sued
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