Buying Property in Scotland
October 29th, 2007 Posted in ScotlandWhen you are in the market to buy property in Scotland, you could come up against certain terms that could cause some confusion and so you need to learn about what requests for ‘offers over’ and closing dates for offers mean. It is normal to see homes advertised for sale at prices ‘offers over’ X number of pounds, and this is a way in which sellers hope to get highest bids for their properties.
Still, if you are a purchaser and cannot bid the X number of pounds, you need not lose heart since you can still make a lower offer because properties in Scotland often sell for prices below ‘offers over’ prices, and if properties remain sold for a long period of time, it is always possible to pick them up at prices lower than ‘offer over’ prices.
Another point worth noting as far as property buying in Scotland goes is that many properties are now being sold at fixed prices, in a manner just like is found south of the border in Wales and in England. The reason for this change in attitudes is that those purchasers that are from outside of Scotland are generally discouraged by ‘offers over’ prices and so selling properties at fixed prices is a means of wooing these buyers.
Another means employed by sellers of property in Scotland is to use a ‘closing date’ in which the onus is on the purchaser to make their formal offers on the property by a specific date, much like in a blind auction.
