First Time Buyer Guidance *SCOTLAND*

amieloustew

Looking to buy my first property.

I have a property in mind and am considering putting an offer in but mot sure if I'm at that stage.

What types of things would I need to have in place prior to offering?

My partner and I have an AIP and I'm currently looking for a solicitor as I'm typing this. Am I missing anything? Does a solicitor need to submit offer on our behalf?

I'm buying in Scotland, here is property: https://www.zoopla.co.uk/for-sale/details/52714437

Any advice would be appreciated.

[Deleted User]

amieloustew wrote: »

Looking to buy my first property.

I have a property in mind and am considering putting an offer in but mot sure if I'm at that stage.

What types of things would I need to have in place prior to offering?

My partner and I have an AIP and I'm currently looking for a solicitor as I'm typing this. Am I missing anything? Does a solicitor need to submit offer on our behalf?

I'm buying in Scotland, here is property: https://www.zoopla.co.uk/for-sale/details/52714437

Any advice would be appreciated.

If you want to submit an offer you will need to get a solicitor. Your solicitor should also be able to give you some guidance on how much to offer.

https://www.mygov.scot/buying-a-home/

amieloustew

Thank you! I've looked everywhere for a simple guide and didn't even think to look at gov website. Makes things A LOT clearer!

Gstrang81

Hello, I'm also in Scotland and second what has been said above. You need a solicitor to submit your offer, don't be afraid to call around and ask for prices for conveyancing and be prepared for estimates of about £1000!

We recently sold our house, home report value £83k, went on the market for offers over £79995 and we got £83k for it. Our new house was valued at £140k, on for offers over £137k, we bought it for £138k. Check the value stated on the home report as this should give you an indication of the kind of price they're looking for but again, your solicitor will keep you right.

Any questions, drop me a pm

amieloustew

Really appreciate the response!

I have done a few quotes for solicitors (online and in person) and have seen an average cost of around £850 which is very reasonable.

Nebulous2

amieloustew wrote: »

Really appreciate the response!

I have done a few quotes for solicitors (online and in person) and have seen an average cost of around £850 which is very reasonable.

Get recommendations from family and friends. It isn't all about price.

It's worth checking that the solicitor is on the panel for the lender you have chosen as well, though if its a big lender I doubt if that will be a problem.

amieloustew

Nebulous2 wrote: »

It's worth checking that the solicitor is on the panel for the lender you have chosen as well, though if its a big lender I doubt if that will be a problem.

Do I need to have a lender agreed before a solicitor?

davidmcn

amieloustew wrote: »

Do I need to have a lender agreed before a solicitor?

You don't need to, but it wouldn't normally make sense to be making offers without a good idea where your mortgage is coming from.

Dorian1958

That is a lovely flat. Have you managed to get an idea of what the annual management charges are, is there in fact a factoring company in place? As a FTB you don't want the amount to be a nasty surprise. At a large 15 year old development near me (similar in look to the one you are looking at) the factoring charge is approximately £1000 p. a.

Nebulous2

amieloustew wrote: »

Do I need to have a lender agreed before a solicitor?

I was basing my comment on you saying you had an AIP. I assumed you were going to use that lender for your mortgage.

abz88

You don't need a solicitor to note an interest or make an offer, but I would strongly suggest you do. Firstly, for a first time buyer (or any buyer for that matter), the cost of using a solicitor for your purchase far outweighs the costs of doing it yourself and making a mess of it! Secondly, you'll find some selling solicitors want accept an offer from an individual (there is nothing legally preventing them, but also nothing that says they have to accept any and all offers).

In terms of other things to do, its a good idea to get a mortgage in principle so you are clear how much you can afford. Your solicitor can also advise on what tax you'll and fees (land registration etc) you will have to pay for a property at a certain value. Again, this might affect what you can afford.

As Dorian1958 has said, find out factoring costs and what it includes (some cover buildings insurance). You can also get insurance quotes for building and contents insurance, find out local council costs, find out expected utility costs on comparison sites. General things like this can all add up!

EDIT: From Citizens Advice "In Scotland if you are buying or selling a house you must use a solicitor or an independent qualified conveyancer", so you do in fact need a solicitor or independent qualified conveyancer. (not that it changes my advice, but confirms you should be finding one!)