Buying a Property in Scotland

Average property prices are lower in Scotland than in other parts of the UK, especially London and the Southeast of England. Buying a property in Scotland works slightly differently than in the rest of the UK. This applies specifically to the process of submitting an offer for a property. There are three main ways to make an offer on property in Scotland, with the ‘Offers over’ system generally being unique to Scotland:

• Fixed price offers – when a property is listed at a fixed price, it usually means that the vendor will accept the first offer made at the listed price. 
• Offers over – if you want to purchase an offers over property, your solicitor will normally put in a ‘note of interest’ on the property. This usually means that a closing date will be set on the property. If you have noted your interest on a property, you will be informed of the closing date when it is set by the vendor. If you submit your offer before the closing date, it will be considered by the vendor. These are sealed bids which the vendor then assesses. Your solicitor will be able to advise on what they think is a reasonable amount to bid. In some popular areas, it is not uncommon to bid 20 to 30% over the listed price to secure the property. 
• Guide price or offers in the region of – This is similar to the system used in England, which means the vendor is looking for an offer near the listed price. You should seek your solicitor’s advice on what you should offer or rely on market data from similar properties sold in the area.

Shelter Scotland have produced this useful guide on buying a home in Scotland. 

Your Move have also produced a useful 21-step guide on buying property in Scotland. This takes you through the process from starting your journey through to the completion date. 

Checklist when buying a property

Below is a short checklist of things you will need when buying property in Scotland. 

• A Solicitor specialising in property, who will be able to advise you on the process, lodge notes of interests or make formal offers, and provide guidance on the Scottish property market.
• Mortgage Broker, who will help you figure out the size of your mortgage and what you have to spend on a property. 
• A credit rating (if you are planning on applying for a mortgage)
• A Home report for properties you are interested in. If the house is listed for sale, it should have a home report. This document provide useful information about the property, its condition, and any issues you should be aware of. It is comprised of three sections: a survey and valuation, a property questionnaire, and an energy report. You should note that the valuation is likely to be a better estimate of what the property is worth than an ‘offers over’ price. For example, a property may be listed for ‘offers over £200,000,’ but its actual value in the home report could be listed as £220,000. There are a few cases where properties may not have a home report – for example, if it is a newbuild property and has not been on the market before. You will find information about home reports here. 

Where do you find properties in Scotland?

There are many ways to find property to buy or rent in Scotland. Below is a list of some commonly used websites that provide listings across Scotland. 

• On The Market have compiled this useful list of letting agents and estate agents in central Scotland. You can also use the ‘Map View’ to see where your nearest letting or estate agent is or if there are any that specialise in property in the area you want to live. 
• Zoopla have compiled this list of letting agents in Scotland. You can also search for property for sale in Scotland on Zoopla. 
• Rightmove is a well-known and comprehensive property website with both listings for rent and sale. 
• Search for property for sale or to rent on S1 Homes.

We are constantly looking to improve the information on this page. If you have a suggestion, please get in touch with us at hongkongBNO@cosla.gov.uk.