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Issue 8 - SoyouwanttobuyinScotland

Scotland Magazine Issue 8
May 2003

 

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SoyouwanttobuyinScotland

INTHEFIRSTOFANEWSERIES,PROPERTYWRITERJOHNCORMACKLOOKSATBUYINGINSCOTLAND

SoyouwanttobuypropertyorlandinScotland?Wheredoyoustart?Well,ifyou’relookingtocometoScotlandfromoverseas,thereareafewfundamentalquestionstoaskyourself.Whereinthecountrydoyouwanttobe–arurallocationorinthecosmopolitancentralbeltclosetothecitiesofEdinburghandGlasgow?

Gettinginformationisthenexthurdle–butthisisn’tasdifficultasitmayappear.MostpropertyinScotlandissoldonbehalfofclientsthroughlawyers,essentiallyfirmsofsolicitorswhohavereal-estatedepartmentsfullyconversantwiththeprocessesofbuyingandsellingpropertyinthecountry.

TheprincipallocationsinScotlandareservedbyanetworkofpropertyshopsthroughwhichsolicitorsadvertiseandmarkettheirclients’propertyandlandthatisforsale.InScotlandtherearesevensuchcentreswhichpulltogethervitalinformationonbuyingandselling.

Notonlyispropertyforsaleonviewhere,butawiderangeofinformationandgeneraladviceonbuyingandsellingpropertyisavailablefromteamsofknowledgeablestaff.Thepropertyshopconceptiscomplementedbywebadvertisingandsalespublications.

SimonFaircloughismarketingandPRdirectoroftheEdinburghSolicitorsPropertyCentre,throughwhichsome90percentofpropertyinandaroundthecapitalissold.

Hecomments:“Usingtheservicesofasolicitorthroughoneofournetworkofpropertycentresisveryimportantforthosewhodonotknowthesystem.Thepropertycentresthemselveschargenosalescommissionforgeneralinformation,andthereforeareinapositiontoofferunbiasedadvice.”

Detailsofpropertiesforsalecomeviaindividualfirmsofsolicitorsinstructedindependentlytosellclients’properties.

Propertycentrestaffcanalsoputpotentialbuyersintouchwithfirmsofsolicitorswhowillsubmitanoffertobuy,andwhoareabletooffermorein-depthinformation.Iftheyarethensuccessfulineffectinganacquisitionfortheirclient,theywillchargeafeeforthisservice.

Thesecentresofinformationarepopularwiththebuyingpublic:“We’veseenmountinginterestintheacquisitionofScottishpropertyandsportingrightsfromwithintheUKandoverseas,”saysSimonFairclough.Thepropertybusiness–certainlyaroundthecapital–isstimulatedbyEdinburgh’simportanceasadynamicfinancialandservicecentre.

Onceapotentialbuyerhasappointedhis/herownsolicitortoofferforaproperty,thefunreallystarts.Mostpropertyisofferedontheopenmarketinanopenbidsituation,whichessentiallymeansthatlandandpropertyismarketedonan‘offersover’basis.Normallyeachbiddersubmitsaformallegalofferthroughhis/herretainedsolicitor,andthepartythatoffersthehighestpriceinallprobabilityacquiresthehouse,landetc.

Beforesubmittinganoffer,solicitorscanofferadviceonnumerousmattersincludingvalueandbids.Theycanalsoputbuyersincontactwithotherfirmswhocanadviseonavarietyofmatterssuchaspropertymaintenanceandcondition,structuralissues,valuationandfinancialandmortgageadvice.

Althoughthepropertycentresandfirmsofsolicitorsofferarichsourceofinformationonpropertybuying,thereisagrowingnumberofreal-estateagenciesorcharteredsurveyorswhoaremakinginroadsintothetraditionallysolicitor-ledsellingandbuyingprocess.

Someoftheseorganisationsarelong-establishedandhavehadapresenceinScotlandformanyyears.Althoughtheywouldnotnormallyprepareandsubmitalegaloffertobuy–almostentirelytheprovinceofthesolicitor–theyareinastrongpositiontoofferadviceonvalue,finance,marketingetc.

Theseorganisationsalsoofferlandandbuildingsforsalethroughthetraditionalroutesofprinteddetails,brochuresandwebsites.Inyourhunt,theyshouldcertainlynotbeoverlooked.

Manyofthestaffintheseorganisationsarefullytrainedtoexactingprofessionalstandards,withqualificationsfromleadingprofessionalorganisationsincludingtheRoyalInstitutionofCharteredSurveyors.