Scottish Missives Concluded?

mattjones

I am not sure how to know whether missives have been concluded on a flat I am purchasing in Scotland. I wonder, therefore, if anyone can help with the question below.

Q/ Can missives be concluded in Scotland without:
- a specific and exact date of entry being agreed between buyer and seller
- the funds of the (cash) buyer being verified

I ask because I have not agreed the former or supplied verification of the latter.

Many thanks for your help.

davidmcn

You know when missives have been concluded because your solicitor will tell you. If you're really not sure what's going on, give them a call in the morning.

googler

mattjones wrote: »

I am not sure how to know whether missives have been concluded on a flat I am purchasing in Scotland.

>>> Your solicitor will tell you they have been concluded. If you are in doubt, ask them tomorrow (Monday). This is what you are paying them for.


I wonder, therefore, if anyone can help with the question below.

Q/ Can missives be concluded in Scotland without:
- a specific and exact date of entry being agreed between buyer and seller

>>>No.

A date of entry will have been included in the offer your solicitor made on your behalf for the property. If no further discussion takes place in the missives between solicitors regarding this date, then this will be the entry date agreed upon at conclusion of missives.

If you want to alter the date from that which was in the offer, you need to tell your solicitor.


- the funds of the (cash) buyer being verified

I ask because I have not agreed the former or supplied verification of the latter.

Many thanks for your help.

Have you verified your funds with your solicitor? Is your solicitor satisfied you can proceed with the purchase?

glennevis

To specifically answer your first question: Yes, it is actually possible to conclude the missives without a specific end date if both parties have agreed to this.
When I bought my current house the vendors did not have an exact date for their onward (commercial) purchase at the time the missives were prepared, so we agreed to a clause allowing for a date sometime in the future, with a 'backstop' to ensure it was within the next 3 months, well before my mortgage offer expired. As the solicitor explained to me "if the transaction has not settled by 1 September, then either yourself or Mr xxxxxx is entitled but not bound to pull out of the transaction without penalty."
That happened to suit me as I wasn't selling at the same time so could be flexible.

davidmcn

googler wrote: »

A date of entry will have been included in the offer your solicitor made on your behalf for the property.

Not necessarily - it's fairly commonplace for the offer to state the date of entry as "to be agreed". In which case there'd need to be a qualified acceptance stating a particular date for the contract to be meaningful, though in theory I suppose you could just conclude and leave the date of entry up in the air. Would help if the OP told us what their offer said about the date of entry.