After your offer is accepted, your solicitor will work through the conveyancing process, negotiate the missives and carry out the necessary legal checks, while you’ll normally finalise your mortgage and prepare for the move. Once missives are concluded, the contract becomes legally binding, with the purchase completed on the agreed date of entry.
Having an offer accepted is one of the biggest milestones when buying a home, but it doesn’t mean the purchase is complete. In Scotland, there are still several important legal and financial stages to work through before the property officially becomes yours.
Understanding what happens next can make the process much less daunting and help you prepare for everything from concluding missives to collecting the keys.
What Happens After Your Offer Is Accepted in Scotland?
Once your offer has been accepted, the transaction moves from the property-search stage into the legal process.
Your solicitor will work with the seller’s solicitor to agree the final terms of the purchase, check the property’s title and documentation and progress the missives. At the same time, your lender will usually finalise your mortgage arrangements before funds are released for settlement.
Here’s what you can expect.
Stage 1: Your Solicitor Receives the Qualified Acceptance
In Scotland, an offer to purchase a property is normally submitted formally through your solicitor.
When the seller accepts your offer, their solicitor will usually issue a qualified acceptance.
Despite the name, this doesn’t necessarily mean that every term of the purchase has been agreed.
The qualified acceptance may contain amendments or additional conditions relating to matters such as:
- The date of entry
- Items included in the sale
- Property alterations
- Title conditions
- Additional documentation
- Other terms contained within your original offer
Your solicitor will review these points with you and respond to the seller’s solicitor where necessary.
This exchange of formal letters forms part of the process known as missives.
Stage 2: The Conveyancing Process Begins
Your solicitor will then carry out the legal work required to ensure you can safely purchase the property.
This is known as conveyancing.
The work involved will vary depending on the property, but your solicitor will typically examine matters including:
- The property’s title
- Ownership and boundaries
- Legal searches
- Planning permissions and building documentation where relevant
- Alterations to the property
- Any burdens or conditions affecting the title
- The seller’s legal right to transfer ownership
If anything requires clarification, your solicitor will raise this with the seller’s solicitor.
Stage 3: Finalising Your Mortgage
If you’re buying with a mortgage, having an Agreement in Principle before making an offer isn’t the same as having your final mortgage approved.
Your lender will still need to complete its assessment before issuing the formal mortgage offer.
This can involve:
- Confirming your income and financial circumstances
- Reviewing the property
- Considering the Home Report valuation
- Completing any additional valuation required by the lender
- Carrying out affordability and lending checks
Responding promptly to requests from your mortgage lender or broker can help keep this part of the process moving.
You should also avoid making significant changes to your finances or taking out substantial new borrowing while your mortgage application is being finalised, as this could affect your lender’s assessment.
Stage 4: Reviewing the Home Report
Most properties marketed for sale in Scotland will have a Home Report available before you make an offer.
The Home Report contains:
- The Single Survey
- The Energy Report
- The Property Questionnaire
The Single Survey provides information about the condition of the property and includes the surveyor’s valuation.
Your solicitor may also review relevant information contained within the Property Questionnaire as part of the legal process.
It’s important to remember that the Home Report isn’t a guarantee that no issues will arise. Depending on the property’s age, condition or anything highlighted within the report, you may decide to obtain additional specialist advice or surveys.
Stage 5: Missives Are Negotiated
One of the most important stages after your offer is accepted is the negotiation of missives.
Missives are the formal letters exchanged between the buyer’s and seller’s solicitors that together form the contract for the property purchase.
There may be several exchanges before everything is agreed.
Your solicitor will keep you informed of any significant conditions and advise you if something requires your approval.
This process can take different lengths of time depending on the complexity of the transaction.
When Are You Legally Bound to Buy the Property?
An accepted offer doesn’t normally mean you’re immediately legally bound to complete the purchase.
The key point is when missives are concluded.
Once the solicitors have agreed all of the contractual terms and missives are concluded, the contract becomes legally binding.
This is an important difference in the Scottish property-buying process and one of the reasons buyers should avoid assuming the transaction is guaranteed simply because their offer has been accepted.
Stage 6: Missives Are Concluded
Once all outstanding points have been agreed, your solicitor can conclude missives.
At this stage, both you and the seller are legally committed to the transaction under the agreed terms.
The date of entry should also have been agreed.
Your solicitor will then continue preparing for settlement and make sure the necessary legal and financial arrangements are in place.
For many buyers, concluding missives is the point when they can start making firmer arrangements for moving day.
Stage 7: Arrange Buildings Insurance
Your solicitor or mortgage lender will advise you when your buildings insurance needs to be in place.
Don’t simply assume this begins when you collect the keys.
The contractual position and your lender’s requirements can affect when cover is required, so check the exact date with your solicitor and insurer.
If you’re buying a flat, there may also be communal or block insurance arrangements to consider.
Stage 8: Prepare for the Date of Entry
With the legal work progressing, attention can turn to the practical side of moving.
Before your date of entry, you may need to:
- Arrange removals
- Confirm utilities
- Organise broadband
- Redirect your post
- Notify relevant organisations of your new address
- Arrange buildings and contents insurance
- Prepare the funds required for your purchase
- Organise your move from your existing property
If you’re also selling a home, your solicitor will coordinate the legal and financial aspects of the two transactions.
Avoid making arrangements that are difficult or expensive to change until your solicitor confirms that the purchase is sufficiently secure.
Stage 9: Your Funds Are Prepared for Settlement
Before completion, your solicitor needs to have the money required to complete the purchase.
This can include:
- Your mortgage funds
- Your deposit or remaining purchase funds
- Land and Buildings Transaction Tax, where applicable
- Registration fees
- Legal fees and other costs
Your solicitor will provide you with a financial statement showing the funds required and when they need to be available.
If you are using mortgage finance, your solicitor will also arrange for the lender to release the mortgage funds in preparation for settlement.
What Is LBTT?
Land and Buildings Transaction Tax (LBTT) is the Scottish tax that may be payable when purchasing residential property above the applicable thresholds.
The amount depends on factors including the purchase price and your circumstances.
If you’re buying an additional residential property, the Additional Dwelling Supplement (ADS) may also apply.
Your solicitor will calculate the tax due as part of the conveyancing process and deal with the relevant return.
Stage 10: The Date of Entry and Settlement
The date of entry is the day the purchase is due to complete.
On the agreed date, your solicitor will complete the legal settlement with the seller’s solicitor and arrange payment of the purchase price.
Once settlement has been completed successfully, the seller’s solicitor can authorise the release of the keys.
This doesn’t necessarily happen first thing in the morning, so don’t assume you’ll have access to the property at a particular time unless this has been confirmed.
Once the keys are released, you can move into your new home.
Stage 11: What Happens After You Get the Keys?
Although moving day feels like the end of the process, your solicitor still has some work to complete.
After settlement, they will deal with the necessary registration and tax formalities.
This can include:
- Submitting the LBTT return
- Paying any LBTT or ADS due
- Registering your ownership
- Registering your lender’s security where applicable
- Completing any outstanding post-settlement legal work
You generally won’t need to manage these processes yourself.
Your solicitor will deal with them as part of the conveyancing service.
How Long Does It Take From Offer Accepted to Getting the Keys in Scotland?
There isn’t a standard timeframe that applies to every purchase.
The timescale will depend on factors including:
- How quickly your mortgage is approved
- The agreed date of entry
- How quickly missives can be concluded
- Whether any title issues arise
- Whether additional documentation is required
- Whether you or the seller are involved in another property transaction
- The complexity of the purchase
A straightforward purchase may progress relatively quickly, while a transaction involving a chain, mortgage delays or legal complications can take longer.
The date of entry proposed within the offer can therefore be an important part of negotiations.
What Can Delay a Property Purchase After an Offer Is Accepted?
Several issues can slow down the transaction.
Mortgage Delays
Your lender may require further information, documents or valuation work before issuing the mortgage offer.
Issues With the Title
Your solicitor may identify matters relating to ownership, boundaries, access rights or title conditions that require further investigation.
Alterations Without the Necessary Paperwork
Extensions, conversions or other alterations may require planning permission, building warrants or completion documentation.
If paperwork is missing, further enquiries may be necessary.
Additional Surveys
If the Home Report identifies a potential issue, you may want further investigation from a specialist before proceeding.
A Property Chain
If your purchase depends on selling your existing home, or the seller needs to complete another purchase, several transactions may need to work together.
Negotiating Missives
Sometimes additional conditions or legal questions need to be resolved before both solicitors are comfortable concluding missives.
What Can You Do to Keep Your Purchase Moving?
You can’t control every part of the process, but being prepared can help avoid unnecessary delays.
Before making an offer, it’s sensible to have your mortgage Agreement in Principle and solicitor in place.
After your offer is accepted:
- Submit your full mortgage application promptly.
- Respond quickly to requests from your lender, broker or solicitor.
- Read documents when they’re sent to you.
- Ask questions if you’re unsure about anything.
- Make sure your deposit and other funds will be accessible when required.
- Avoid making major financial changes without considering how they could affect your mortgage.
- Keep your solicitor updated if your circumstances change.
Good communication between you, your solicitor, mortgage broker and lender can make a significant difference.
Frequently asked questions
The seller’s solicitor will normally respond formally to your offer and the conveyancing and missives process will progress. Your solicitor will review the legal documentation and title while you finalise your mortgage arrangements if you’re borrowing to fund the purchase.
Not usually on its own. The transaction generally becomes legally binding when the buyer’s and seller’s solicitors have agreed the contractual terms and concluded missives.
Missives are the formal letters exchanged between the buyer’s and seller’s solicitors. Together, once concluded, they form the legally binding contract for the property purchase.
An accepted offer and concluded missives are not the same thing. Before missives are concluded, the contractual position is different from the position afterwards. Once missives have been concluded, both parties are legally bound by the agreed contract.
There is no fixed timeframe. It depends on factors such as mortgage approval, legal enquiries, title issues, documentation and any conditions attached to the transaction.
It’s worth researching availability early, but be cautious about committing to arrangements that cannot be changed until your solicitor confirms the legal position and your moving date.
The keys are normally released on the agreed date of entry after your solicitor has successfully completed settlement with the seller’s solicitor.
An accepted offer means the seller has agreed to proceed with a buyer, subject to the legal process. The purchase isn’t completed until settlement takes place on the date of entry, and the transaction generally becomes legally binding earlier when missives are concluded.
Conclusion
Having your offer accepted is an exciting moment, but it’s the beginning of the next stage rather than the end of the buying process.
Your solicitor still needs to complete the conveyancing, work through the missives and prepare for settlement, while you’ll need to finalise your mortgage and get ready for moving day.
Understanding these stages can make the period between having your offer accepted and collecting the keys feel much more manageable.
At MOV8, our experienced conveyancing team can guide you through the legal process, keeping you informed from your initial offer through to settlement and beyond.
If you’re planning your next move, you can also search our latest properties for sale or speak to our team about the buying and conveyancing process in Scotland.
Useful Links
Free Property Valuation
Find out what your home could be worth and speak to one of our local property experts.
Selling Your Home
Learn more about selling your property with MOV8 and the support available throughout the process.
Conveyancing Services
Find out how our solicitors can manage the legal side of your property sale.
Home Reports
Learn more about what’s included in a Scottish Home Report and when you’ll need one.
Property for Sale
Search the latest homes available through MOV8 across Edinburgh, the Lothians and beyond.
Leave a Reply