Property for Sale in Scotland

The property market in Scotland is slightly different than the rest of the United Kingdom as buying real estate or property in Scotland involves bidding over the asking price of the seller. When a property is for sale the seller will invite interested parties to make a bid over and above the recommennded price. An example would be a house is on sale for offers over £100,000 but in many cases the buyer will have to bid 15-20% over the asking price. If many people are interested in the property it may go to a closing date where you have to submit a sealed bid and the highest bid wins.

Selling a house in Scotland will normally involve Estate agents who often charge 1% of the selling price plus marketing fees for their services which will include editing a schedule for the house, online and local listings and in some cases even accompanied viewing if the seller is unable to be present at house viewings. The major estate agents in Scotland are companies such as Countrywide, Slater Hogg, Corum property and Remax Scotland.

Before you buy any property in Scotland you should carry out a professional schedule which will be required for mortgage purposes as this schedule will value the house price and this is vital in order to complete a mortgage and also check for any faults. You can also pay extra for a structural survey if you have reason to believe there may be more serious problems with the house structure such as roofing, damp or other major problems.

Although most house prices are based on the offers over criteria you will also get some property at a fixed price, this often occurs when a seller does not get the expected amount or interest from their original listing and they then will accept a set fee to the first buyer who agrees to the price. You can often pick up some good property deals in Scotland when the seller has not sold their house yet and has committed to another house as they will be willing to accept lower offers to avoid bridging fees on two mortgages.