Guide to selling your house or flat in Scotland
Are you considering selling your house or flat in Scotland but unsure of where to begin? Below, we outline the essential steps involved in the process.
What are the steps of selling a house in Scotland?
Wondering where to start with selling your home and what the process of selling a property involves? Below we look at the main steps to selling a house or flat in Scotland.
1. Get your property valued
The first step to selling your home is to find out how much your house or flat is worth. This is called a valuation. You can contact a few solicitor estate agents for a free, no-obligation valuation by using our form. By arranging a valuation you are not agreeing to definitely sell your home.
Why get a valuation from a solicitor estate agent? Simple. Our research has proven that they regularly achieve a higher percentage above the Home Report valuation than other agents. That means you'll get the best price for your home. You'll get more with a solicitor estate agent!
There are several things a valuer will look for when valuing a property, including:
- curb appeal (how attractive it looks from the outside)
- the general condition of the property
- how many bedrooms and public rooms there are
- how energy efficient it is
If there are things requiring fixing in your home, it's a good idea to get them done before a valuation is carried out.
2. Appoint a solicitor estate agent
After you have invited a few solicitor estate agents to value your property, you will need to choose one to take you through the rest of the selling process. Getting different solicitor estate agents to value your home is a great way to find out what they offer.
ESPC solicitor estate agents are experts in the local property market and can take care of the entire selling process, from marketing the property to the legal process.
They are also duty bound by the Law Society of Scotland guarantee to provide the best service possible to you and work to stay up-to-date with any changing guidance and legislation on selling a property in Scotland.
3. Look at your mortgage options
When you decide to sell, it’s wise to also determine your financial situation. Seeking independent mortgage advice from ESPC Mortgages can help you to make decisions about your mortgage and what the best options are is a good place to start.
4. Prepare your home for sale
Prior to your home going to market, you’ll want to make sure that it will appear attractive to potential buyers.
Some ideas for making your home as attractive as possible:
- carry out any diy tasks (no matter how small)
- paint the walls to freshen them up or make the colour scheme more neutral
- have a deep clean
- have a clear out or ensure that there's not too much clutter
Try to think as a potential buyer when looking at your home. Your solicitor estate agent will also be able to advise you in this regard.
5. Get a Home Report
Before you can market your home, you’ll need to get a Home Report. Some parts of the Home Report are conducted by a surveyor and your solicitor estate agent will help to arrange this.
The Home Report will contain information about your property and includes a Property Questionnaire, with general information about your property, a Single Survey, with details about the condition of the home, a valuation and accessibility audit, along with an Energy Report, which provides your home with an energy efficiency rating.
A surveyor will need to visit your home in order to produce the Home Report.
6. Conduct viewings
Once your home is on the market, interested buyers will view your property to see if it’s the right fit for them.
We have some advice here on staging your home for viewings.
7. Negotiate offers
If a buyer wishes to purchase your property, they will either submit an offer or a formal note of interest. These will be made to your solicitor. If they submit an offer, you can choose to accept it or negotiate on the price – your solicitor estate agent will negotiate the selling price and other matters, such as the date of entry, on your behalf.
If a note of interest is submitted, this is the buyer declaring formal interest in a property and that they would like an opportunity to make an offer on it before it sells. If one or more notes of interest have been made on the property, a closing date may be set, which means all offers should be submitted by that date.
However, there is no legal requirement to set a closing date. Your solicitor will be able to offer you further advice in this.
8. Concluding the missives
Once you have accepted an offer, your solicitor will work on the legal aspects of the sale. Once the missives are concluded (a binding contract between buyer and seller), neither can withdraw from the sale without penalties.
However, there are some further checks a solicitor estate agent must do before drawing up the new title deeds and transferring ownership of property.
Once that’s taken care of, the money from the sale will be collected and arrangements made to discharge and repay your existing mortgage, on the agreed date of entry. And that’s your house or flat officially sold!
Begin your journey of selling your property in Scotland with confidence. Request a free home valuation today and let ESPC assist you every step of the way.
The initial consultation with an ESPC Mortgages adviser is free and without obligation. Thereafter, ESPC Mortgages charges for mortgage advice are usually £395 (£345 for first-time buyers). YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED AGAINST IT.
The information contained within this website is subject to the UK regulatory regime and therefore restricted to consumers based in the UK.
The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.
ESPC (UK) Ltd is an Appointed Representative of Lyncombe Consultants Ltd which is authorised and regulated by the Financial Conduct Authority.