Scotland has it own system of law, and buying and selling a property is quite a different process from the one in the rest of the UK. The system generally works more quickly and there is less risk of gazumping.
The general process runs as follows:
- Apply for a mortgage
- Engage a solicitor or conveyancer (mandatory in Scotland)
- Find a property you wish to buy
- Ask your solicitor to 'note interest'
- Complete a mortgage application
- Get a valuation or survey
- Have the mortgage application agreed
- Make an offer on the property
- Complete the mortgage application
- Offer is accepted
- Fix a settlement date
- Arrange buildings insurance
- Solicitors complete missives (contracts)
- Settlement (completion)
In the rest of this section, we take a look at these procedures in more detail.
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