Step 1 – Get a local solicitor
Engage a good Scottish solicitor before you do anything else. They will act for you in all matters relating to your sale.
Step 2 – Sell your house
The Scottish market doesn’t like chains. You can try to sell in England and buy in Scotland at the same time, but it’s tricky. If you’re in a chain, you must at least be able to put down a deposit and have a mortgage agreement (if required) before you offer, advises Michael Jones, partner at Knight Frank in Edinburgh.
Alastair Houlden from Rettie & Co agrees it can be tough, but maintains there are options: ‘For instance, some buyers offer a non-refundable deposit to guarantee exclusivity as they wait to exchange.’
Step 3 – Get to know the local agents
It’s worth getting cosy with them because a good relationship can pay off, as Emma Chalmers, partner at Galbraith, explains: ‘A seller may say to an agent “I don’t want this to go out to everybody” and you want them to think of you first.’
Step 4 – Arrange viewings
Most vendors show their own houses in the country, although in the city and for higher-value properties and estates, agents will conduct viewings.
Step 5 – Read the Home Report
The Home Report contains a single survey (including a price valuation), an energy report and a property questionnaire. The valuation will usually determine the asking price, as the surveys can be basic. When it comes to higher-value properties, both lenders and buyers usually commission a more in-depth survey, points out Mr Jones.
Step 6 – Put in a ‘Note of Interest’
If you like a house, you can file a Note of Interest with the agent. This means they are bound to keep you informed of any developments, from price changes to offers made.
Step 7 – The closing date
If an agent has multiple Notes of Interest or offers on a property, they will move to a closing date. At this point, you need to have your ‘best and final offer’ filed by noon on that day.
Step 8 - Successful offers
It’s a common misconception that an accepted offer is legally-binding in Scotland, according to Malcolm Leslie, director at Strutt & Parker in Edinburgh. But it simply isn’t true. If your offer is successful, the vendor’s solicitor will send your solicitor a ‘qualified acceptance’. This leads to an exchange of formal letters, known as missives, hammering out the final terms.
During this process, either party can still pull out and it’s upon conclusion of these missives that the final contracts are signed.
Step 9 – Settlement
On the date of entry that’s agreed in the contract, you’ll pay the whole of the purchase price in exchange for the keys to the property. This is known as ‘settlement’.
Step 10 – Prepare for a nasty stamp duty bill
The Land and Buildings Transaction Tax (LBTT, aka Scottish Stamp Duty) bands are different to England; buyers in Scotland pay more. For example, the bill for a £600,000 house comes to £33,350 – it’d be £20,000 in England.
‘The LBTT did not go down well at first [in 2015],’ according to Andrew Perratt, head of residential for Scotland at Savills, ‘but when you take into account the price differential between Scotland and the South-East, buyers are still getting a lot more for their money.
‘Flexible working arrangements allow many more people to live in an idyllic place with a great quality of life and keep the London salary – it’s the best of both worlds.’
Spectacular Scottish castles and estates for sale
A look at the finest castles, country houses and estates for sale in Scotland today.
Six incredible homes on the doorstep of Britain's greatest golf courses
Golfers and non-golfers alike will love these delightful houses in beautiful spots near the famous golf courses at St Andrews,
Credit: Garmony House, Isle of Mull
A magnificent Georgian house on the Isle of Mull for the price of a Guildford semi
This house for sale on the Isle of Mull is a vision of Georgian cosiness in an idyllic natural setting.
Credit: Knight Frank
A house by the waterside where magnificent views meet all mod cons
The houses we feature at Country Life are often hundreds of years old. This one is a relative baby – but
Credit: Blenkin & Co
A handsome Georgian property now on the market after full restoration
Metham Hall in East Yorkshire has medieval origins and a colourful history.
A breathtaking West Highlands estate with mountains, forests and lochs to call your own
A magnificent sporting estate, extending to 11,105 acres in total, has come to the market in the West Highlands – and
-
A country house that's 'the finest-looking estate between the Humber and the Tweed' (at least according to Queen Victoria)Burn Hall is a treasure-trove of architectural features, from its sweeping staircase to its grand snooker room.
-
William Kendall: 'We need to build a lot more solar farms and some wind turbines, too'The thought of losing of productive arable land to renewable-energy developments can be dispiriting and alarming, but informed local knowledge may be the key to their successful design.
-
A country house that's 'the finest-looking estate between the Humber and the Tweed' (at least according to Queen Victoria)
Burn Hall is a treasure-trove of architectural features, from its sweeping staircase to its grand snooker room.
-
Six beautiful homes around the world, from Portofino to Provence to Palm BeachAn exquisite villa tucked into a hillside? A A breathtaking apartment created to make you feel like you're flying through the endless blue skies?
-
An idyllic home where the forest meets the sea, for sale for the first time in over half a centuryLittle Aston is a graceful, charming home with superb gardens and its own orchard, as well as some of the south coast's most beautiful areas right on its doorstep. Penny Churchill takes a look.
-
'Just look at those stairs. Just as an art form, they are bewitching, like the shell of a nautilus': The lure of buying a stairway to heavenIt seems like madness to buy a house purely because you fall in love with the staircase — but sometimes, they are simply so beautiful that it's impossible to resist. Toby Keel takes a look at some glorious examples of staircases we've seen in Country Life in the last couple of years.
-
The one-of-a-kind estate with two private beaches and a surf house on storied Martha's Vineyard islandBeach Farm on Martha’s Vineyard — a favourite summertime holiday destination with prominent American families — is a perfect melding of New England and Scandinavian design styles.
-
The architect who created the MI6 building only designed a tiny handful of houses — and one of them is now up for sale in one of London's most bucolic spotsSir Terry Farrell designed the beautiful, light-filled, T-shaped Drum House in Petersham, with gardens laid out by John Sallis Chandler, who has won multiple RHS Chelsea Flower Show gold medals.
-
'True waterfront homes are finite... miss one and it could be years before you see another like it again': Why the best waterfront property always hits the spotThere’s no denying the appeal of waterfront property, which now sells for some 51% more than its inland equivalent, finds Knight Frank. Annabel Dixon explores the shore.
-
19 charming homes for sale, from picture-perfect cottages to beachside retreats, as seen in Country LifeThis week's selection of some of the best homes to come to the market via Country Life this week.
