Urgent property purchase question - Scotland
Urgent property purchase question - Scotland
Author
Discussion

s4tronic

Original Poster:

245 posts

156 months

Tuesday 9th October 2018
quotequote all
Need some of advice regarding the conveyancing process in Scotland.

Very hypothetical situation as we may end up not being successful in either offer BUT

We are purchasing a new property (sold ours, waiting for it to complete). Both properties are sold by executors (so both empty).
One is closing this week, other is closing next week.

Our preference is 2nd one but if I couldn't get 2nd one, we would be happy with the one closing this week.

Can someone advise, if I offered on 1st on and was accepted, could I then offer on the 2nd one with different solicitor and if accepted, simply pull out of the first deal simply risking being liable for conveyancing fees? We would be way of exchanging missives so no other financial commitment as far as I can tell.

Other than this being morally dubious (causing 1st selling estate agent some additional work), any reason why we couldn't do it?

s4tronic

Original Poster:

245 posts

156 months

Tuesday 9th October 2018
quotequote all
just thinking about it - it could perhaps go to Homes, Gardens and DIY section to get a better response?

rgf100

86 posts

135 months

Tuesday 9th October 2018
quotequote all
I’d be taking advice from my solicitor. In theory an acceptance of an offer isn’t final - it can be subject to final finance, survey, etc. I think not mentioning another pending offer would be bad form and you couldn’t do it without your solicitor being aware. But if you’re offering significantly over valuation, an “if we don’t get this other one” clause may be acceptable.

anonymous-user

84 months

Tuesday 9th October 2018
quotequote all
Aren't accepted offers in Scotland binding?

Red Devil

13,516 posts

238 months

Tuesday 9th October 2018
quotequote all
keirik said:
Aren't accepted offers in Scotland binding?
Only when the missives are concluded. Those can fly back and forth for a time until agreement is reached.
https://www.emwllp.com/latest/property-contract-fo...

PaulD86

1,841 posts

156 months

Wednesday 10th October 2018
quotequote all
No, if you won at closing on the first property it is not at that point legally binding. What area of Scotland are you looking at out of interest?

Would you really be happy with the property you like less though? I bought my 2nd choice property at one point and always regretted it.