How does a closing date work in Scotland?
A closing date is a deadline by which all interested buyers must submit their best formal offer through a solicitor. The seller then considers them together and can accept one, reject them all, or negotiate. It is the standard way competing interest is resolved in Scotland.
When a closing date is set
Usually when several parties have noted interest and at least two are ready to offer. Setting one too early, with only one interested party, can lose that buyer; setting one too late can let momentum drain away.
Once a date is set, everyone who has noted interest must be told. Buyers who have not yet had a survey or arranged funding may drop out, which is why the timing decision belongs with someone who is watching the viewing feedback closely.
What happens after offers are opened
Offers are submitted in writing by solicitors and opened after the deadline. The seller is not bound to accept any of them, and price is only one factor: date of entry, whether the offer is subject to the sale of another property, and what is included in the sale all matter.
Acceptance is followed by missives, and nothing is legally binding until missives are concluded.
Common questions
- Do I have to set a closing date?
- No. Sellers frequently accept an early offer instead, particularly where the offer is strong and the buyer is in a position to move quickly.
Lothian Property is a property information and professional-introduction service operated by Maybury Scotland Limited. Lothian Property is not an estate agency. Where requested, we may connect homeowners with independent estate agents and other property professionals. How we work.
Written and reviewed by The Lothian Property team, Edinburgh property research team. General information about the Scottish selling process — not legal advice.