If you have found your dream home but are unsure where to start with selling your current property, watersrule solicitors can help. From getting your property valued to accepting an offer, our property lawyers can support you at every stage of the conveyancing process.
Here, we look at some of the crucial steps to successfully selling a residential property in Scotland. For personalised advice from our experienced property law team, get in touch by calling 01259 753 330 (Tillicoultry) 01786 235 235 (), or complete the online enquiry form and we will give you a callback without delay.
What is my house worth?
One of the first pieces of information you need to sell your home is to find out how much your property is worth. A property valuer will look at various aspects of your home (such as the design and any unique features), however, the valuation will not be solely based on the property’s interior. Factors that could impact the valuation may also include the location of your home as well as the current market and demand.
The Home Report will bring further clarity to the value of your property. This information pack includes a Single Survey, an Energy Report and a Property Questionnaire of your home - all of which will provide prospective buyers with the details they need to make an informed decision on what kind of offer they believe would be acceptable.
Setting a price
Once you have all the information you need about the property’s value, it is now time to decide how you want to advertise your house. In Scotland, there are three main pricing systems for selling your home: ‘fixed price’, ‘offers over’ and ‘offers around’. It’s important that you understand what each of these terms mean as it will affect how your property is sold.
If you choose to advertise as ‘offers over’, you will sell to the buyer with the highest offer, whereas a property marketed as ‘fixed price’ will go to the first buyer willing to pay the requested amount. ‘Offers around’ is a midway point between the other systems, allowing the seller to put down an estimated price while giving them the flexibility to go to a closing date if need be. Speaking to a specialist property lawyer with local expertise is highly recommended to ensure your property is placed on the market correctly.
My house is on the market - what’s next?
Prepare for viewings
First impressions are vital in a house viewing so consider all possible requests that a viewer may ask, for example, wanting to see inside any cupboards and garages.
You may choose to show prospective buyers the property yourself or you may look to ask an agent instead. If you choose to do so yourself, you should ensure you have thoroughly prepared for questions regarding council tax and bill suppliers etc. It’s also important to listen to any viewer's concerns about the house and whether it would be in your best interest to address any of them before selling.
Accepting an offer
Following the viewings, an interested buyer can make a note of interest on your property. This will be passed onto your selling agent along with any other offers.
Choosing which offer is right for you can be difficult, but your conveyancing lawyer is there to guide you through this decision. It’s worth noting that the highest offer may not always be the best option for your circumstances. For example, one buyer may be offering less but has a later move in date that works better with your timescales for moving into your new home.
What are the final stages to complete the sale?
Conclusion of missives
The buyer’s and seller’s solicitors will negotiate all conditions of the sale in writing, known as the missives. When the missives are agreed, both parties are legally bound to the sale of the property and cannot back out without financial implications.
Date of entry
The date of entry is the day in which you hand over the keys in exchange for the balance of the property purchase from the buyers. This may have already been agreed or suggested at the point of making an offer. A document will also be drawn up that transfers legal ownership from you to the new buyers (known as the disposition). At this stage, your property is officially sold.
Contact our Selling Your Home Property Solicitors in Tillicoultry
At watersrule solicitors, we understand how stressful it can be to sell your home. If you are not getting the viewings or offers that you had originally envisaged, it can become extremely disheartening to continue on the conveyancing process. Our highly experienced team of property solicitors in and Tillicoultry can give you the expert advice and local knowledge you need to ensure your house is sold swiftly, allowing you to focus on your next move.