How Does Scots Conveyancing Law Differ From That In England?

Buyers should be aware that Scots property law differs markedly from that of England.
The following highlights the main differences. For a more thorough understanding of Scottish conveyancing law, it is recommended that you contact a solicitor.

The main differences of the two legal systems are in land and property ownership. Most Scottish properties are sold on an owner-occupier basis there are no freeholds or leaseholds.

Other key differences in the conveyancing process means buyers and sellers enter into a legally binding contract at a much earlier stage. Consequently, solicitors are involved almost from the start, and gazumping is virtually unheard of. Lenders will also give a mortgage application decision prior to an offer going in.

Surveys of property are carried out before an offer is made and, indeed, help in setting the level of the bid. It is worth noting here that sellers set a price and invite offers.

With a more streamlined and, arguably, civilized process, which also includes a formal moving in date, there is substantially less time involved between the agreement of sale and completion.