Buying or selling a home in Scotland involves unique aspects of the conveyancing process that differs from the rest of the UK.
A qualified Scottish conveyancer will understand the intricacies of the system, guiding you through the process and explaining unfamiliar legal terms.
This guide provides an overview of what to expect from a Scottish conveyancing solicitor and the role they play in your property transaction.
How the Role of a Conveyancer Differs in Scotland
There are a few key aspects of conveyancing in Scotland that vary from the process in England, Wales and Northern Ireland (NI).
They include:
Notes of Interest
Unique to Scotland, conveyancers submit a “note of interest” on behalf of a buyer. This does not commit a buyer to the purchase, but it does let the seller know they are serious about buying the property.
This also allows the buyer to be notified when the seller is accepting offers and of any other relevant developments.
Submitting an Offer or Sealed Bid
Unlike in the rest of the UK where a buyer submits an offer for the property, in Scotland the offer must be sent as a letter from a solicitor.
The seller will decide from a selection of buyers whose offer or bid they will accept.
Missives and Concluding Missives
Missives are a series of letters between the seller and the buyer’s conveyancers, negotiating the terms of the sale. When an agreement has been made and the sale is ready to complete, missives are concluded.
In England, Wales and Northern Ireland this is known as "exchanging contracts".
Home Report
In Scotland, the seller is legally required to provide prospective buyers with a copy of a Home Report, which includes a survey of the property. In the rest of the UK, the buyer arranges and pays for a survey.
The Home Report allows buyers to make an informed decision on the home before submitting an offer and committing to the purchase.
Conveyancing Estate Agents
Many conveyancing firms in Scotland work as both conveyancers and estate agents, operating under one roof.
One example is the Solicitors Property Centre Scotland, a network of conveyancers and property experts.
Land and Buildings Transaction Tax (LBTT)
In place of Stamp Duty in England and Northern Ireland, Scotland has Land and Buildings Transaction Tax.
LBTT is required on properties over £145,000 or up to £175,000 if you are a first-time buyer.
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What Does a Scottish Conveyancing Solicitor Do?
A conveyancer is responsible for the legal and administrative sides of a property transaction, transferring ownership from the seller to the buyer.
Below is a brief overview of the role a conveyancer will play in Scotland:
Buyer’s solicitor submits a note of interest to the seller
Buyer's solicitor submits an offer or bid for a property
Buyer's solicitor reviews property title and prepares documents
Seller and buyer’s solicitors exchange missives
Both solicitors conclude missives and prepare to complete
Both solicitors arrange the transfer of funds between parties
Buyer's solicitor registered title with the Registers of Scotland
Buyer's solicitor pays Land and Buildings Transaction Tax
Choosing the Right Conveyancing Solicitor
Finding the right solicitor is a key part of the buying and selling process. Below we look at how you can identify the best professional for your needs and the questions you should ask.
1. Check Credentials
Credentials are vital and hiring a solicitor registered with the Law Society of Scotland (LSS) is thoroughly recommended.
2. Verify Their Reputation
Be sure to check reviews and testimonials, including their website, Trustpilot and Google reviews. With Compare My Move, you can check customer reviews on each conveyancer’s partner page.
3. Ask Questions
Below are a few questions to ask prospective conveyancers:
What do their fees include?
What can I expect from the process?
Do they have experience with your type of property transaction?
Are they members of any regulatory bodies?
Are they familiar with the Scottish property market?
What are their qualifications?
FAQs
How much does conveyancing cost in Scotland?
Average conveyancing fees are £1,567 for buying a house and £1,139 for selling, based on the average UK property price of £285,000.
Conveyancer fees will vary, and the Law Society Scotland states that each firm charges what it believes is appropriate for the work carried out.
How long does conveyancing take in Scotland?
On average, the conveyancing process is considered to be quicker in Scotland, taking 6 to 8 weeks to buy a house according to Home Report Company.
This is in contrast to the 8 to 12 weeks it takes on average across the rest of the UK.
Can I do my own conveyancing?
Yes, you can do your own conveyancing, however, it is not recommended unless you have strong knowledge and experience of the conveyancing process.
What happens if the property deal falls through?
If either party pulls out of the sale, they must do so before the conclusion of missives. After this point, the sale is legally binding and could incur legal or financial penalties.
Additionally, if a seller takes another buyer's offer, they must do so using a different conveyancer.
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Finding a Scottish Conveyancing Solicitor
Whether you are buying or selling a home in Scotland, a conveyancer is essential for a successful transaction. They can provide you with advice and guide you through the nuances of Scottish property law.
One of the best ways to find conveyancing solicitors in Scotland is via a trusted comparison website. At Compare My Move, we can connect you with up to 6 conveyancers, saving you both time and money.
Our approach allows you to discuss your needs directly with companies. This way, you can compare quotes and find the right conveyancer for your needs.
All our conveyancing partners have passed our strict verification process and are all regulated by either:
The Law Society of Scotland (LSS)
Solicitors Regulation Authority (SRA)
Council for Licensed Conveyancers (CLC)
Law Society of Northern Ireland (LSNI)
The Chartered Institute of Legal Executives (CILEx)
Need a Home Report?
If you are selling your property in Scotland, you must obtain a Home Report. We can connect you with up to 6 Scottish surveyors who can assist you with your Home Report requirements.
