Scotland - When do you plan to launch?

[JumbleDuck]

No that is wrong. In Scotland you still have to sign contracts but that is done after the the offer is accepted within a week or two, and not when the cash is transferred, which is the case in England.

When I bought my first place, a flat in Edinburgh, a previous sale had just fallen through, The owner was so keen to sell that my offer was accepted immediately, without exchange of missives (the negotiations about details). At the time my solicitor said it was the only time he had ever heard of this happening. As a result the process went, as far as I can remember, like this:

Monday: phone call from the seller's solicitor to say the flat was for sale again and was I interested
Tuesday: survey
Wednesday: offer made and accepted, everything signed.

 

[Deleted member 36384]

Yes, that can happen JD, but until contract is signed either party can pull out with penalty. We bought a property from a friend, very similar, except they did not want to place on market and so contracts were not exchanged until both parties were ready to move. That was the easiest one ever.

 

[dimdav]

Can we stop getting Scottish property sales wrong here guys.

Missives are the contract and usually arent concluded until very close to the purchase date due to the turnaround time on reports, mortgage approval etc.
They are the final step in the process and therefore cannot be subject to anything or the lawyer would be getting struck off.
An offer, when accepted, will be subject to lots of things incl mortgage, local authority reports, title examination, access rights etc
Once an offer has been accepted the solicitors on either side are bound by rules that mean gazumping and gazundering are verbotten, although it was common a few years go for certain sections of the community in particular to hang off completing missives until the last minute then withdraw only for a family member to offer way below but with the same moving date putting the seller in a really awkward position.

No I'm not a lawyer but my wife is a conveyancing partner in one of the countries largest law firms and working from home for the past year has given me an even more in depth knowledge of the whole process than I thought it was possible to have or even wanted!

 

[Deleted member 36384]

Well, I wonder what the letter is called when my solicitor informs the other that the offer is accepted.

 

[dimdav]

That's why you conclude missives when the contract is finalised. That letter is notifying you that your formal offer has been formally accepted i.e. off the market and you are now into the missives stage of the process where all the details are ironed out and both sides start deleting clauses of both the formal offer and the formal acceptance using such terms as "I deem clause blah to be delete", a strange turn of phrase but heho. I did find it interesting that the usual advice is not to let the prospective purchaser into the property for measurements etc until missives have been conclude especially at the moment with virtual viewing just in case they decide they dont like it and pull out and also to keep them honest and push for conclusion of said missives. The market is mental at the moment esp Glasgow west end with London returnees blowing locals out of the market by offering up to 40% over home report! but its crazy all over, the wife has been buying all over the country with a lot of the returnees being cash as well.

Anyway back on subject, I'm finally off to the boat tomorrow for some essential maintenance, not seen her since Sept so want to check all ok, tarp still in place and no water inside, tbh I'm dreading it a little.

 

[JumbleDuck]

Missives are the contract and usually arent concluded until very close to the purchase date due to the turnaround time on reports, mortgage approval etc.

According to my solicitor - and various websites, like this one and this one - the missives are the letters exchanged in the run up to signing the contract and which settle all the issues you mention. But I should not have said that there were no missives in the case of my flat - there were two: my offer and their acceptance. We were expecting more because there were some things to be resolved - a porch built without feuer's permission, for example - but they were so keen to sell that they basically said "Whatever. We'll pay for anything."

Good solicitors try to get the missives concluded well before the date of entry, though the last time I bought a house it was all a bit strange because I was already living there so no physical entry was involved. I simply went from being tenant to owner.

 

[JumbleDuck]

That's why you conclude missives when the contract is finalised.

I think you will find that it's exactly the opposite. The contract is finalised when missives are concluded. Until that point it's all informal, there is no contract and either side can back out. My flat sellers were desperate because the previous sale had fallen through after conclusion of missives, which is very unusual.

 

[Deleted member 36384]

Mmm. Obviously I am mixing up missives and contracts!

 

[dimdav]

Good solicitors try to get the missives concluded well before the date of entry, though the last time I bought a house it was all a bit strange because I was already living there so no physical entry was involved. I simply went from being tenant to owner.

On the sellers side yes but the other side not so much until their clients sale is concluded and so on down the chain everyone trying to protect their clients interests, as it should be.

You also have to factor in when the date is and how far down the process the other sides are. Coal reports can take 2 weeks to get, title confirmation from the keeper 2-3 weeks then any queries to the council or such other body on the back of sight of the title another 3-4 weeks so while everyone would like to conclude missives early it just isnt practical in most cases especially at the moment with them all working from home.

Edit: Just showed my wife your posts, she laughed Exact words, "Whats his name John Snow? because he sure knows nothing."

 

[dimdav]

I think you will find that it's exactly the opposite. The contract is finalised when missives are concluded. Until that point it's all informal, there is no contract and either side can back out. My flat sellers were desperate because the previous sale had fallen through after conclusion of missives, which is very unusual.

Talk about being pedantic, they are both in effect the same thing.

Back on track, went to the boat, in a sorry state with manky green topsides, varnish around the companionway lifting, water ingress into cabin, internal wood moldy. Sigh!

 

[JumbleDuck]

Edit: Just showed my wife your posts, she laughed Exact words, "Whats his name John Snow? because he sure knows nothing."

Whatever. All I've said is that the missives come between acceptance and contract. Doesn't seem controversial to me.

 

[awol]

Whoopee! I can now travel round Edinburgh though Ikea is still (luckily) out of bounds. It's the first time I have ever regretted moving my boat west, away from Port Edgar. Only 23 days to go!

 

[Deleted member 36384]

Whoopee! I can now travel round Edinburgh though Ikea is still (luckily) out of bounds. It's the first time I have ever regretted moving my boat west, away from Port Edgar. Only 23 days to go!

Indeed! I am resisting the urge to travel to Craobh. Away next week from Sunday, for work, so that will burn up some time. Not even a direct strike on Faslane / Culport will keep me away on the 26th.

 

[Abestea]

I am getting a list together of all the things I am going to do once the 26th arrives. Whilst I wait, I am going to get some bits I have prepared.

Just finished sewing a new sail cover for around the mast and to the lazy jack tent. Wash boards and tiller ready for varnishing. Very tempted to sew a new lazy jack tent....

No idea what state she will be in but looking forward to being on board again.

 

[JumbleDuck]

On Thursday I paid Norris's for repitching my prop, and it should be with the yard next Wednesday. Once that's done, their bit is over - they have finished a hit-and-run insurance repair - so I can start getting ready for my bits in May. New solar panels and new standing rigging.

 

[Skylark]

What’s your view of Scotland easing travel restrictions from England. My reading remains “we hope........April 26 or soon thereafter”?

Any thoughts as to if this is looking likely?

 

[Deleted member 36384]

No change so far, 26th still on the cards. Data is going the right way. Debate with the public is that we are at the point where it could be opened up sooner, nothing from government on that point.

 

[awol]

With election purdah any relaxation of Covid rules would be very difficult, Nicola's next Covid statement is scheduled for 20th April.

 

[ctva]

With election purdah any relaxation of Covid rules would be very difficult, Nicola's next Covid statement is scheduled for 20th April.

Bull.

With the elections a week and a bit after the 26th April, Just enough time for the freedom feelgood feeling to take hold, yeah I’m not daft!

 

[awol]

Bull.

With the elections a week and a bit after the 26th April, Just enough time for the freedom feelgood feeling to take hold, yeah I’m not daft!

I doubt that the hoped for relaxation of 26th April will supply your "freedom feelgood feeling". Level 3 won't let you into a pub for a swally and level 2 will have you eating a meal to get a drink. Of course, I'm daft enough to base my vote on at last being allowed to rub down my antifouling while keeping 2m away from everyone - concerns over education, health, economy, corruption in Westminster, public services, state of the roads, bin collections, Brexit, etc., etc. won't come into it.