Making an offer in Scotland

Pixie5740

I don't think being a cash buyer makes you a more attractive buyer in Scotland because the timescales of buying a house even with a mortgage are nothing like the fannying about that goes on in other parts of the U.K.

davidmcn

Trigs wrote: »

Just noticed in the copy of the offer i was sent, that there is no mention of it being a cash purchase, no mortgage. I did tell the solicitor that, should it be in the offer statement?

No, where you get your money from isn't relevant to the contract. They might mention informally that you are a cash buyer / not needing to sell / flexible with the entry date etc depending on what's relevant.

davidmcn

mvteng wrote: »

hmm. Still pretty sure a verbal offer is binding.

http://en.jurispedia.org/index.php/Contract_Law_(Scotland)

So, note this bit:

Unless specified in the Requirement of Writing (Scotland) Act 1995 an agreement does not need to be be in writing

and then look at section 1 of the Act:

1
(2) ...a written document complying with section 2 of this Act shall be required for—

(a)the constitution of—

(i)a contract or unilateral obligation for the creation, transfer, variation or extinction of a real right in land;

i.e. any contract to buy land needs to be in writing.

Trigs

davidmcn wrote: »

No, where you get your money from isn't relevant to the contract. They might mention informally that you are a cash buyer / not needing to sell / flexible with the entry date etc depending on what's relevant.

Ah, alright. Thanks

zebulon

Trigs wrote: »

I was told i could make a verbal offer on this property.
[...] Whats the reason for giving you the verbal option?

Get a few verbal offers, oh they are good, we will put the price up a bit and offers over to see if we can get a few even better ones ?

Pure speculation.
It's just that in Edinburgh I noticed flats (ok maybe it was just one) with prices going up one/two week in being on the market.

MrsO84

@itsnotarace Did you get the chance to put in another offer once it went to closing date or was only your original offer accepted? Currently in a similar situation! Thanks!

davidmcn

MrsO84 wrote: »

@itsnotarace Did you get the chance to put in another offer once it went to closing date or was only your original offer accepted? Currently in a similar situation! Thanks!

Sellers will always be happy for you to increase your offer!

MrsO84

@davidmcn We have put in an offer after very pushy EA talking about a closing date, then retracting that if we could put in our highest offer, etc. Offer went in this morning verbally and I was told (although not sure I believe the EA) that another offer went in yesterday. Told me they would check with the seller and get back to me (they wanted a closing date of noon today) and would have expected to have heard by now. Is it likely they have gone back to the other bidder to tell them we bid higher and try to negotiate them up, then come back to us?

DoaM

An EA is (supposed to be) working for the benefit of the seller not any buyer, and their fee is (usually) a percentage of the final sale price. Always bear that in mind.

Pixie5740

MrsO84 wrote: »

@davidmcn We have put in an offer after very pushy EA talking about a closing date, then retracting that if we could put in our highest offer, etc. Offer went in this morning verbally and I was told (although not sure I believe the EA) that another offer went in yesterday. Told me they would check with the seller and get back to me (they wanted a closing date of noon today) and would have expected to have heard by now. Is it likely they have gone back to the other bidder to tell them we bid higher and try to negotiate them up, then come back to us?

What is your solicitor advising you to do? Your solicitor should know if a closing date has been set and your offers should be going through your solicitor not some tit estate agent who's watched too much Location Location Location.