There are two ways of selling a house in Scotland, you can either undertake the task yourself or use the services of a solicitor or estate agent. Even if you do decide to undertake the marketing and sale of the property yourself, you will still require the services of a solicitor to deal with the legal aspects of the sale.
A professional will take away some of the problems of selling property, they will have a better understanding of the local market and therefore ensure that you get the best price for your property. They may be able to give you advice on how to prepare you property for sale in order for you to maximise its value.
Using a solicitor or estate agent is by far the most common way to sell property in Scotland and the UK in general. But as with anything, you need to make sure you understand what is included when a solicitor or estate agent is selling your home for you.
Typically, you would need to find out how much the fees are and whether you will to pay extra for things, such as marketing and advertising, a 'For Sale' board, a pre-sale valuation and is VAT included in the price.
There are two ways to pick a price for the sale of property in Scotland. Firstly, you could decide on a price that will be attractive to a lot of buyers, and that is known as 'Offers Over'. You would advertise a price that is the minimum you would accept, but anticipate many people making offers substantially higher, typically around 15% higher.
The second method is to choose a price at which you would sell the property, which is known as 'Fixed Price'. This means the first person to want the property can have it at that price, no negotiations.
Because in Scotland an offer takes the form of a legal contract, your solicitor will receive the offers and go through them with you. You are not obliged to accept the highest offer, and if there are several offers, you may be advised to go to a 'Closing Date'. This is where you let all interested parties know that you will accept the best offer at a particular time and date. Usually, you would expect people to increase their offer when this happens, as they hope to clinch the sale.
Offers will be sent to your solicitor and will include the basics, such as the offer, the proposed entry date and it may include various technical issues. For example, who is responsible for common boundaries, and that any alterations to the property have the appropriate permissions and warranties.
Offers Over is used on a rising market