Typical timings for buying a house in Scotland

[Deleted User]

Hello,
I wondered what the rough timings were for house buying in Scotland. Say, for example, I was to place an offer on a house and it was accepted next week, when would I be expected to pay my deposit and exchange contracts? Obviously, this varies according to circumstances but I wondered if there was a rough or expected timeframe? Thank you.

googler

A straightforward purchase can be completed in a few weeks.

The timescale is dictated by the entry date you put in your offer. Every offer to purchase in Scotland will contain price, contract terms, and an entry date. If the seller accepts your offer without modification of the date you specify, then that's when you will get the keys and be able to move in.

The contract is in the offer, final agreement to be bound by it is called "conclusion of missives", and will be executed by solicitors, on your instruction.

user1977

And there's no (contractual) deposit - the whole price is paid on the date of entry.

comeandgo

Our new neighbours were in 5 weeks after their offer was accepted.

googler

Also, it's expected that responses to offers are made within days, not weeks. 

A typical offer, if made today (Friday @ 14:50) might contain a clause stating that if not accepted or declined by 5pm on Monday, it is automatically withdrawn. We don't hang about.

If there's notable interest in the property, the sellers may declare a closing date for offers, in which case the clause above is regarded as moot.

[Deleted User]

Thank you all, this is really helpful.

sheramber

It is common for the seller to have already had an offer accepted on their next house, so will have an idea of when they want entry to be. 

Offers normally say 'entry date by mutual agreement'.   Either party may have a fixed date in mind and come to an agreement.

We offered on July with entry in December. Due to work we could not move before then. Seller accepted that.

Our buyer was in rented with contract until December so also wanted a December entry date.

googler

Where are you looking to move to? One of the cities? Out in the country? Highlands and Islands?

khtaylor

Was really quick for us.

Offer accepted 23rd Dec 2021

Full mortgage application with broker - 10th January (would have applied sooner but closed broker was off for xmas) 

Mortgage offered 17th January

Solicitor recieved mortgage offer 26th January and confirmed she would start conveyancing.

Paid deposit and sol fees 14th February

Concluded missives 16th February 

Settled yesterday 18th February

All in all 8 weeks from accepted offer to date of entry. Would have been sooner if solicitor and broker weren't off for 2 weeks at Christmas. 

koalakoala

Just weeks in Scotland. No deposit is paid

[Deleted User]

googler said:

Where are you looking to move to? One of the cities? Out in the country? Highlands and Islands?

Out in the country - Dumfries and Galloway.