FAQs

A:

• We invite any offers over the specified price
• Properties can go for 5, 10 or 15% or more over the asking price, but it depends on the indvidual property and circumstances
• We always suggest to interested parties that they offer the maximum amount they can afford as once the offer has been opened at the closing date, if there is an offer acceptable then it will be accepted on that day without any further reference to the other offering parties

A:

• A closing date is fixed when more than one party has noted interest in a particular property
•  A date will be fixed when offers are to be submitted, usually in Scottish legal form by a solicitor
• Your solicitor and yourself will be notified of the date
  

Remember that not all offers are successful based on the highest price - there are other factors which may determine whether your offer is accepted

A:

The Seller is indicating that they wish an offer in excess of the advertised price. 

A:

The seller is indicating that, in normal circumstances, an offer in the region of the asking price will be acceptable.  This may be slightly under or over the price advertised. 

A:

The first offer at that price will, under normal circumstances, be acceptable to the seller. 

A:

A formal offer is prepared by the purchaser's solicitor, in writing, on behalf of the purchaser and submitted to the seller.  This is the opening "missive" in the contract. 

A: The date of entry is agreed at the outset, when the price is to be paid, and the keys handed over; literally, the date you take entry to the property. 

A:

Highland Standard Clauses is a document containing clauses that cover the fine detail of the contract for the purchase.  Generally, these will be acceptable and are designed to speed up conclusion of missives. 

A:

A formal missive or a missive letter are formal letters that pass between the purchaser's solicitor and the seller's solicitor, signed on behalf of the parties, which, read together, will form the contract for the purchase.

A:

A qualified acceptance is a formal letter, issued by the seller's solicitor, in reply to the "formal offer".  States that the offer is to be accepted, subject to agreement on the qualifications proposed within it. 

A:

Conveyancing is the process whereby the title is transferred from seller to purchaser. 

A:

A disposition is the deed signed by the seller, transferring title to the purchaser and delivered at settlement, in exchange for the price. 

A:

A standard security is the deed, signed by the purchaser, giving security to their lender, for the mortgage.  In England this is called a Legal Charge. 

A:

It is produced by the Registers of Scotland, following the Disposition being presented for registering, which records your title to the property. 

A:

It is produced by the Registers of Scotland, following the Standard Security being presented for registering, which records the lender's charge over the property.