Selling your house in Scotland is very different to selling a house in England. Due to the Scottish government having their own laws and legal system, when it comes to selling a house in Scotland, the concepts which apply in England aren’t quite the same. House Network has put together this simple guide to how to sell a house in Scotland:
The Home Report
The first major difference when selling a house in Scotland to one in England is that houses in Scotland have to be marketed with a home report which is given to the potential buyers. It has to be conducted by your solicitor or an estate agent and includes the following three components:
- A Single Survey which contains an assessment by a surveyor of the condition of the home, a valuation and an accessibility audit.
- The Energy Report, completed by a surveyor of the energy efficiency of the home and its environmental impact. It also recommends ways to improve the home’s energy efficiency.
- A Property Questionnaire which is completed by the seller of the home. This contains extra information about the home, such as important things like the Council Tax banding and factoring costs that will be useful to new buyer.
The home report is designed to tell the potential buyers about the condition of the property, its energy efficiency and accessibility. It is required in most circumstances and has to be given to the potential buyer within 9 calendar days of them requesting it, apart from in the following situations:
- houses that have been on the market continuously since before 1 December 2008
- new housing sold off-plan or to the first occupier
- newly converted property not previously used in its converted state
- right-to-buy homes
- dual-use homes used for residential and non-residential purposes
- seasonal holiday homes as defined in planning law
For more information regarding the Home Report you can visit the government website at www.homereportscotland.gov.uk.
The Blind Bidding System
When it comes to the buying of a new home, buyers are encouraged to take part in blind bidding where the sellers ask for offers that are over or around the prices outlined by the surveyors in the Single Survey.
Once you have accepted an offer, your solicitor will issue a letter known as a qualified acceptance. Following this, there will be an exchange of letters between the buyer’s solicitors and your own, known as the missives. Through this series of letters, your solicitor irons out any discrepancies over conditions, this results in a conclusive missive which acts as a binding agreement when both parties agree. After this stage, your solicitor completes the sale by:
- Legally transferring of the title
- Transferring ownership from you to the buyer
- Agreeing the disposition (the document that transfers the title of the property from you to the buyer)
- Arranging for the repayment and discharge of your loan over the property
How to sell your home in Scotland is a different process to selling your home in the UK but just as easy to do with the help of an estate agent or your solicitor. For a more detailed guide visit the Scottish government guide to selling your property here.
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