What happens after an offer is accepted in Scotland?
How missives work
Missives are the chain of formal letters between solicitors; the sale is binding only when they conclude.
An offer is rarely accepted outright. The seller's solicitor issues a qualified acceptance, and letters pass back and forth until every condition is agreed.
Common sticking points are the date of entry, moveable items, evidence of building warrants and any title conditions or burdens.
Title, burdens and paperwork
Most delays after acceptance are paperwork delays, and most of that paperwork could have been gathered before marketing.
Title deeds may include burdens: shared maintenance obligations, access rights, restrictions on use. These need to be disclosed and are frequently negotiated.
Where an alteration lacks a building warrant or completion certificate, indemnity insurance is often the practical solution, but arranging it takes time.
The date of entry
Keys are released on the date of entry once funds are transferred and the disposition is delivered.
Removals, utility readings, redirected post and the final meter photographs all hang off this single date. Book removals only once missives conclude.
Your solicitor settles the mortgage redemption from the sale proceeds and accounts to you for the balance, usually within a few working days.
Module 5 checklist
- Keep your solicitor supplied with warrants and certificates promptly
- Do not book removals until missives have concluded
- Take dated meter photographs on the day of entry
- Confirm the redemption statement and final fee account in writing
Common questions
- When is a Scottish house sale legally binding?
- When missives conclude between the solicitors. Until then either party can withdraw without penalty.
- Can a buyer pull out after missives conclude?
- Not without consequence. Once concluded, withdrawal is a breach of contract and the other party can claim damages.
About Lothian Property
An independent starting point, not an estate agency
Lothian Property is an independent property information and introduction service. We are not an estate agency. We help homeowners understand their property, their options and their local market, and — where appropriate and only with your permission — introduce them to independent estate agents and other property professionals who can assist.
How Lothian Property works