HIE Location Assistant - Property
A major part of relocating to a new area is finding the right place to live. Moray has seen some major housing developments in recent years, which adds to the diverse range of housing options available in the area. Housing is available in both town and rural environments. The property section helps you search for homes for sale (old and new), homes for rent and building plots for sale. It brings together a lot of key information into one easily accessed area. Please note that the law for buying houses in Scotland differs from that of England and Wales. In Scotland properties are usually marketed on an "offers over" basis. This is just an indication of the price that the seller is being advised to market the property at to attract interest. In a sellers market where scarcity and demand combine to push up prices, 15-20% over has been the general rule but this should only be taken as a rule of thumb and trends can change. You should always start by considering how much you can afford and also how much it is worth to secure the deal. A property may also be offered for sale at a "fixed price". If you don't want to miss out on a chance to offer you should ask the selling agents to note your interest. In that way if another party offers you may be given an opportunity to submit a competing formal offer in which case a closing date may be fixed. If a closing date has been set and you have noted your interest you or your solicitor will be notified of the date set and invited to submit a formal offer. The closing date system means that you are effectively in a blind bidding situation but it generally means that the seller acheives the best price. If your offer is successful, your solicitor and the seller's solicitor will then negociate the "missives" which are the formal letters passing between them dealing with the finer points of the contract which will finally be concluded. Once "missives have been concluded" (roughly equivalent to the "exchange of contracts" in England) you are contractually bound to buy the property at the agreed date of entry and the seller is bound to sell. The date of entry may be some weeks, or even months ahead, and it is at that point that the full purchase price is payable. For further information on the differences between the Scottish system and that operating South of the Border look at The Advice Guide.
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