Buying and selling a home can be a daunting and stressful process. We aim to make the process as painless as possible. Our solicitors have a wealth of conveyancing experience and we undertake property-related work on a daily basis. This means we have the experience and expertise necessary to complete even the most complex of residential conveyancing transactions quickly and efficiently.
An overview of the Conveyancing process in Scotland
Conveyancing can seem like a confusing, complex process, but we can help make the process simple for you. A typical conveyancing transaction normally completes along the following lines:
- First, the potential purchaser notifies their solicitor of the property they wish to purchase. The buying solicitor then contacts the selling solicitor to ‘note interest’ in the property. Then, working with the buyer, the buying solicitor drafts the offer and sends it to the selling solicitor.
- The selling solicitor receives the offer and contacts the seller for their instructions regarding the offer – is the offer acceptable in terms of the conditions and price?
- Often, the offer is not acceptable outright and as such a qualified acceptance, rather than a complete or ‘de plano’ acceptance, is returned to the buying solicitor. This may contain amendments to the price, the entry date, what moveable property is included, etc. Normally an exchange of letters and a process of negotiation follow, known as ‘the missives’. The missives come together to form the contract of sale.
- Once the missives are concluded, the selling solicitor sends the title deeds to the purchasing solicitor for examination. Presuming there are no defects in these, the next stage is to arrange for the various mortgages to be redeemed in respect of the properties and this is done by each party’s solicitor.
- The final step is settlement of the transaction. The buying solicitor pays the selling solicitor the purchase price in exchange for the keys and the disposition, deeds and other title documents.
This is a brief guide and does not outline what goes into every conveyancing transaction, nor is it a full guide to the law. If you have any questions about buying or selling property in Scotland, please contact us.
Davidson & Shirley Conveyancing Solicitors in Lanark, Motherwell, & Wishaw, Scotland
Located in the heart of Lanarkshire, Davidson & Shirley are ideally placed to handle every aspect of buying or selling a house in Scotland. We principally undertake property-related work throughout North Lanarkshire, South Lanarkshire, Ayrshire and Glasgow, and often further afield within Scotland. No matter where you are based, we have the expertise to help. Please contact us on 01555 662576 or fill out our online enquiry form for more information.