Nero Legal

Have you ever considered how many individuals and firms can make huge money by buying and selling properties?

Our interactive online conveyancing guides are prepared by Scottish Expert Property Lawyers. ‘If you want to avoid the stress and delay then our guides are for you’. Each stage is highlighted by practical tips and advice. The do’s & don’ts. But always remember that we can provide the best tailored not generic help if we chat.

Before you start you should know.

Do I need to fix the defects in the Home Report?

Do I need to disclose any defects and problems to the seller?

What is the benefit of appointing a solicitor before getting an offer?

What should I not discuss with any potential buyer?

A survey is required to provide the value of the property and also to comment on the structure of the building. You should always have a good read at the survey report that comes as part of the Home Report, This will be available from the Estate Agents. Among other things, you should check the value the surveyor has placed on the property and any recommendations for repairs that are required. You may also wish to see if the surveyor has made any comment as to whether or not the property has been altered or extended as this could affect the value and structure, if the relevant documentation is not available. The survey also contains other information such as the age of the property and comment regarding the area and surroundings, as well as suitability for mortgage lending purposes.

Prepare your property before you receive an offer or make an offer. Being legally prepared before you receive an offer could be the difference between selling or not. we always advise you to ensure that everything is in place for your property before you receive your offer to buy. Your legal team should organise your titles, alteration documents, planning permissions, Title insurances etc. early. Sometimes (due to the defects found in your title deeds or lenders) this can take several weeks. Within 48hrs of any offer you should have your acceptance of the offer along with your titles back to the purchasing solicitor. If you are buying, positioning yourself and putting your offer in the best light can make the difference. We frequently see a lower bid getting the house because they are in a better position or offer clarity and cerainty to the sellers.

All in the detail – The basis of all property transactions is set in a binding contract, which is otherwise known as the missives in Scotland. Many people make the mistake of thinking that the deal is done when in fact the parties are still negotiating the deal. When negotiating either party can walk away at any point. In the absence of any pre-contract deposit or agreement, neither party would hold liability. Yet when is the contract binding? This is an issue that you must really check with your solicitor. Do not make the assumption or take anyone’s word for it as contracts are slippery at best of times.

So you have a contract and one party is in breach of their obligations (not sticking to the deal) or attempting to get out of a contract? Even after the contracts are concluded many solicitors would place conditions within the contract which will allow their clients to withdraw from the contract without any cost if specific conditions are not met. The most general conditions tend to be around the searches over the property for example coal reports, debt and insolvency and in many cases if the property is badly damaged and in need of repair. Again we must stress that you check with your conveyancing solicitor as not every contract is the same.