Category: Property Glossary
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What is a Note of Interest in Scotland?
Read the article: What is a Note of Interest in Scotland?If you’re thinking of buying a property in Scotland, you may be asked if you wish to ‘note interest’ in the property and you might be wondering what a Note of Interest is, why you would want to note interest and who can submit a Note of Interest for you. What is a Note of…
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A Guide to Buying your First Home
Read the article: A Guide to Buying your First HomeBuying a property for the first time can be an exciting time, but also a bit daunting if you don’t know where to start! Here we outline the key stages in the purchasing process and highlight considerations for first-time buyers in Scotland. Sort Out Your Finances Buying a house or flat is likely to be…
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Why Marketing is Important When Selling Your Property
Read the article: Why Marketing is Important When Selling Your PropertyHow do you gain maximum exposure in the market when selling your property? The key to this is effective marketing which will put your home in front of the greatest number of potential buyers. Property Brochure/Schedule A brochure or schedule providing details of the property is essential when selling your home. Photographs will form the…
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Additional Dwelling Supplement 2019 Increase to 4% in Scottish Budget
Read the article: Additional Dwelling Supplement 2019 Increase to 4% in Scottish BudgetThe Scottish government announced in its budget on 12 December 2018 that it plans to increase the current 3% rate of Additional Dwelling Supplement (ADS) to 4% from 25 January 2019. If approved by the Scottish Parliament, the increase will apply to contracts entered into on or after 12 December 2018. ADS was introduced in…
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Why Do Solicitors Settle Property Sales by Cheque and When do I Get My Money After Settlement?
Read the article: Why Do Solicitors Settle Property Sales by Cheque and When do I Get My Money After Settlement?One of the most commonly asked questions by property sellers is: ‘When do I get my money after my property sells?’. However, we were recently asked a similar question: ‘Why do solicitors still settle by cheque when I could get my money much more quickly if they settled by CHAPS [same day, paid-for electronic transfer]?’.…
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Offers Over, Offers Around and Fixed Price in Scotland
Read the article: Offers Over, Offers Around and Fixed Price in ScotlandOffers Over’, ‘Offers Around’ and ‘Fixed Price’ are the three main tactics of pricing your home for sale in Scotland. With every property sale being unique, the best pricing tactic for your home will depend on a number of factors. To find out more, read on! Fixed Price Fixed Price is probably the most straightforward…
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What is Gazumping and Gazundering in Scotland?
Read the article: What is Gazumping and Gazundering in Scotland?What is Gazumping? In essence, gazumping occurs when a property seller accepts an offer from one buyer and then indicates that they want to accept a higher, or better, offer from another buyer. This can often happen quite far into the transaction, when the original buyer is well into the legal process of buying the…
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Why is a Floorplan So Important to Property Buyers and Why is it a Must If You Are Selling
Read the article: Why is a Floorplan So Important to Property Buyers and Why is it a Must If You Are SellingWhen marketing a property, you might think that the most important aspects in presenting the property would be top-quality photographs and a beautifully-written description. However, recent research suggests that floorplans are also at the top of the list for buyers. So why, if you are selling, is getting a floorplan an absolute must?
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