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Buying Property in Scotland

The constant urge of man to have his own shelter over the head has rendered this search as a pursuit of happiness. With everyday experiences of life and never ending desire for your own roof, man has spent many sleepless nights in hunt of a perfect place to live. No matter where you go, or where you intend to live, buying and selling of property not only requires your financial permission but your mental and physical exercise as well. Over the past few, the cosmopolitan boulevards of Glasgow, bright and meadow country side of Scotland have become a great deal of attraction for people as an ideal place to settle and live. The career opportunities and enhanced living quality in Scotland have driven people to buy houses in Scotland and permanently or temporarily settle there. The community being friendly and the cheap houses are exactly the things one looks for when he or she goes to buy a property in Scotland. Scotland has earned quite an appeal from around the world in regard to its natural beauty, scenic routes, and skiing, golf and sky high mountains.  Living in Scotland not only offers you the serenity you had been in search of but it gives you leverage in tax and other legalities as well. However the buying process of a home or property in Scotland is way different from the procedures pursed in England. Scottish property market offers the customers great deal of offers and amazing sights for their property. But there follows a standardized procedure to buy houses in Scotland. In this article we intend to enlighten you with the overview of buying Scottish property. Following provides an overview to buy Scottish property.

For starters, looking for an ideal location and choosing the property is the vital of all the steps. You are going to spend a considerable amount in some place so some formalities like location, view, dimensions and locality have to be taken into account before moving on to the finances. Buying a home is all about financial commitment on a magnanimous scale, where you need to set your priorities, tastes and preferences first. Begin with the type of place you are looking for. What do you require in your home? How small or large do you want it to be? How man bedrooms it should comprise of? What is the proximity of your work place to your living place? How close are the urban or rural areas to you and most importantly accessibility of your place is the big question. After having made an informed decision based on your preference and ease, you look to a solicitor to help you buy or find the property you are looking for in Scotland. You can take a state agent’s or online help while looking for an ideal place to live in Scotland. After being done with property choice, the next most important thing is working out your finances. You need to make sure whether the property you looked for in metropolitan Glasgow, strikes your nerve rightly financially. In simpler words, buying of an institute in Scotland is all about your affordability options. Deciding on what kind of mortgage and installment plan you want is entirely up to you. Once you are down the road, you must get a mortgage which according to Scottish law includes a credit check along with a credit reference agency. Since you had already kept a property in your mind, now with the help of a solicitor after having enough liquid assets with you, you can proceed to make an offer for that property. The point to be noted here is that in Scotland properties are marketed as “fixed price or offers around”. Your solicitor makes an offer on your behalf seeing the condition of your pocket. Your offer may be the one the seller is looking for. The seller might have negotiable plans regarding the property or may be willing to sell you the house at higher price than advertised. In this case bidding comes into play. Once your offer is accepted by the seller, you must move on with the mortgage application. The dealers of mortgage in Scotland usually require valuation of the land or property you are intending to buy. All the monetary dealings and actions are to be carried out with the help of your mortgage dealer while he solicitor facilitates the process and helps you understand the process of buying the place. The next step comes when the seller and the buyer has agreed upon some terms and conditions of procurement of the property. You must always carry out a legal and legit way to reach out to your seller and proceed with caution when it comes to signing a contract with another party. Take a sigh of relief once the seller agrees on the pricing details and accepts your offer. The acceptance of offer may take a considerable time and also requires your patience. A formal agreement or the contract is then officiated between the involved parties. Missives are the letters in Scotland which are usually the exchange letters between the buyer and seller of the property. Missives are exchanged between the solicitors other and your party after the sale is finalized. These exchange letters, incorporate all the legal clauses and formalities by which both the parties are bound. Terms and conditions of the contract must be clearly communicated, understood and agreed upon. You can now happily sign the contract for the dream house you once wished to live in. the moment when you first step foot in your very own house is not far after you have signed the contract. Legally you are the owner of the house. A contract also signifies that you are legally bound and fixated to buy the property and all your financial penalties will be incurred in the clause. Even if you do not want to purchase the house due to some reason or you have changed your mind regarding the property you are still bound to buy it. This is the very reason in Scotland that you must be vigilant when you go to sign the contract because there might as well be no turning back because if you do so, legal action must be taken against you and you incur loss.

After having you signed the contract, the solicitor will then perform a number of other duties. He will receive your title deeds. The title deeds refer to proof of your ownership to the property. It is a document which assures you that you are legally the owner of the property. The solicitor then has to draw a disposition of the ownership which you recently received or that just got transferred to you. A legal and standard agreement based on the property laws of Scotland is formed between the buyer of the property and the mortgage lender. The solicitor is responsible for receiving money from the mortgage lender on your behalf. He will then consequently pay the seller the money and cash the both parties agreed upon. Here are the keys of your dream house in Scotland that you once desired for. The keys and ownership document are handed over to the buyer of the property and then it is his or her business to do whatever he or she wants to do with the property owned.

Your house is ready for you. It is only a matter of time when you finally move in your home that you deem perfect for you. It is entirely up to you whether you go to buy the property on Scotland for official reason or personal cause. You can live in the house or choose to make it your office. All the rights are now transferred to you regarding the utility of the property you just bought. This above mentioned method is slightly different from the one which is carried out using the council or house association help in Scotland. There are a number of ways which allow you to buy property in the Scotland. The gist of the article suggests that Scotland provides an ideal place to the natives to live. Not just that the natives are happy about the living conditions and standard of life in Scotland but even the foreigners of other lands are also shifting their living plans to Scotland in search of calmness and quality of life. Scotland provides its citizens with numerous facilities as mentioned above so most people shift their focus from only working in Scotland to totally settling there. The place is totally worth the entire physical and mental excursion of buying and selling of the house. With so much to offer, Scotland has become the ultimate destination for people to buy a property or home there. Many travelers commute to explore this land and this land has become one of the greatest seeing sights for the visitors. So if you intend to buy Scottish property, grab your Scottish bear, tighten your Scottish enthusiasm and follow the stairwell to your dream house.

References:

“Living in Scotland” from http://www.scotland.org/live-and-work-in-scotland/living-in-scotland/

“Finding a property” from http://scotland.shelter.org.uk/get_advice/advice_topics/finding_a_place_to_live/buying_a_home/finding_a_property

Overview of the buying process in Scotland” from http://scotland.shelter.org.uk/get_advice/advice_topics/finding_a_place_to_live/buying_a_home/overview_of_the_buying_process_in_scotland#1