Scotland is considered a progressive country nowadays in many ways. For this reason, the country has become a desirable country to reside in. If you are thinking of buying your first home in Scotland, here are some questions you need to ask your conveyancing lawyer.
What Services Can You Offer?
First, find out the extent of your conveyancing lawyer’s services. This will allow you to align your expectations and the expertise your lawyer can offer.
You will need assistance from a conveyancing lawyer in Scotland when you aim to buy your own home there. A conveyancer, sometimes called a conveyancing solicitor, is someone who will analyze the legal requirements and legal documents you need to be able to buy your own home in Scotland.
The seller of the property will also have a conveyancer to read through the documents in the same transaction. This practice guarantees that the rights of the buyer (you) and the seller are protected in the property sale.
A solicitor like Jones Whyte Property Solicitors is required so you can bid on and pay for a property. Your solicitor will make the bid on your behalf, as well as negotiate for the buying price. The solicitor will also check the contract for you and help you get a clean title after he has brought the money to the seller.
Can You Assist Me in Buying a Home Even Without a Mortgage-In-Principle?
Your conveyancing lawyer will probably say that you will need a mortgage-in-principle because no one can buy a property in Scotland without this. You can only get a “mortgage-in-principle” document from a mortgage lender. This document simply states that the mortgage lender will lend you money so you can make a bid on a property.
What Fees Do I Need to Pay Aside From the Booking Fee?
A booking fee is required for you to be able to get a mortgage-in-principle. There are also other fees to pay for aside from your booking fee, including the statutory fees, mortgage fees and legal fees, and the Land and Building Transaction Tax. Your conveyancing lawyer will read through the legal documents for you to see if the seller is including any other fees in the Contract of Sale.
Does The Home Report Look Good?
The seller of the property is required to create a Home Report even before entertaining offers from buyers. Your conveyancing lawyer should be able to assess the Home Report for you.
Your lawyer should be able to show you the Property Questionnaire, survey, and Energy Performance Certificate which should be in the Home Report. A Property Questionnaire is inclusive of a description of parking space, alterations of the property, Local Authority notices that were served on the property (if any), the Council Tax band, and any history of flooding of the property. There should also be a record of repair and maintenance of the property in the Property Questionnaire.
Is The Selling Price Fair—Considering The Mortgage Valuation Report?
The mortgage lender is responsible for creating the mortgage valuation report after the mortgage-in-principle has been agreed upon. Your conveyancing lawyer should check if there is a mortgage valuation report included in the Home Report. This helps you determine if the property you wish to buy has the correct value, based on the seller’s offer.
Which Type of Survey Should We See Before Buying My Home?
A survey will help you and your conveyancing lawyer assess a property before making a decision. There are three kinds of surveys, namely, the Home Condition Survey, the Homebuyer’s Report, and the Structural or Building Survey. Here’s what each survey is for:
- Home Condition Survey: The first one is considered the least expensive of the three but you might not be able to identify flaws with the property with this one.
- Homebuyer’s Report: The second is a bit more costly because you will be able to inspect both the external and the internal parts of the property. A bonus is that you get a valuation with the second survey type.
- Structural or Building Survey: The third offers the most thorough survey of the property. It is applied mainly for older buildings or those that have an unusual structure.
These three survey types can all be used when you need to buy a home in Scotland but you only need to pick one.
Conclusion
You might be attracted to the country of Scotland and want to buy your own home there. You will need the services of a conveyancing lawyer for this. Your conveyancing lawyer will be able to discuss the sale with the conveyance lawyer of the seller to see if the transaction is fair and beneficial. What’s more, he will check if you will be paying the correct fees for the size and quality of the sale. With the assistance of the right conveyancing lawyer, you will be able to buy your dream home in Scotland the right way.
