Buying a property can be extremely exciting, but also extremely daunting! Having a solicitor guide you through the process and keep you informed along the way certainly makes that journey easier – that’s where we come in!
Trainee Solicitor, Lauren White and Partner, Hannah Fraser from our Residential Conveyancing team, explain the buying process and some key terminology in helping you to secure the property, whether that be your dream home or an investment opportunity.
What is a Note of Interest?
A Note of Interest is formally lodged on your behalf by a Solicitor, to the estate agent. It informs the seller that you are interested and would like to be kept up to date with the sale of the property; for example, if there any changes to the price, marketing of the property or a closing date set.
You can withdraw your note of interest at any time. You should keep your solicitor up to date should you have a change of heart on the property, or should your circumstances change, so that the formal note can be removed.
You can note interest in more than one property; however, you need to be seriously and genuinely interested in the property.
Do I need to submit a Note of Interest?
You can make an offer without having submitted a note of interest first; it would very much depend on the circumstances. We would always discuss each property individually with you and discuss the best way forward to try and secure you the best deal.
There will be occasions where we can go straight in with an offer – for example in circumstances where there is no other interest and so the door is very much open to an offer; perhaps you are a cash buyer in a strong position; or it is a fixed price property (first come, first serve); or a closing date is already set and so to note interest may only drive up the price and increase competition.
We can offer specialist advice to assist in offers through our expert team of conveyancers.
Depending on what your position is we can offer specialist and tailored advice, whether you are a first-time buyer, looking for your next home or a property investor. We have excellent relationships with mortgage brokers if you require a mortgage also and can make the relevant introductions. Our local knowledge and experience of the different markets in Scotland ensure that we will help you secure your dream property or an investment property.
We will take you step by step through the purchase of your new home. Our personalised service means you will be supported throughout your entire transaction, working one to one with a legal expert. Our expert Estate Agency teams can also help with listing your current property on the market if your offer is subject to sale. Your purchasing solicitor will usually do the conveyancing for your sale too, making the process as simple as possible with one point of contact for both transactions.
Whether you are looking to buy your first home or you're a home mover please contact us on 03330 430150, we would love to work with you.
