Page 2 - Selling Houses in Scotland - FAQ

SELLING HOUSES IN SCOTLAND - FAQ

Is the Spring the best time to sell?

This is a commonly held view but we don’t think it is really true. Property sells all year round in Scotland – and
strangely enough January and February can be really busy months unless the weather is dreadful. There are
probably only two times in the year which can be quieter in terms of less purchase enquiries. One period is the
middle of the school holidays in the summer and the other is the two or three weeks run up to Christmas.

Is “fixed price” or “offers over” better?

There is no one answer to this. Most properties in Scotland are still advertised “offers over” and do achieve an
amount over the asking price. But it would not be sensible to advertise all properties this way. In some areas
and also depending on market conditions it is wise to go for a fixed price because this is more attractive to some
buyers. For example many first time buyers can’t afford much over the asking price and consequently many
properties which would attract first time buyers are advertised “fixed price”. By the same token it would probably
not be wise to advertise a premium property in a premium area which might attract a lot of interest on a “fixed
price” basis. So it is “horses for courses” really and our valuers will guide you to the appropriate advertising
strategy.

What does “noting interest” mean?

When a property is advertised “offers over” and a buyer is seriously interested in buying the buyers solicitor
should “note interest” with the selling agent. This is done by telephone fax or e mail and it is just intimation to the
selling agent that this buyer is considering offering. When a selling agent has two or more “noted interests” he
should fix a “closing date” which is a date and time by which offers to buy must be lodged with him. “Noting
interest” should only be done by a buyer’s solicitor and a selling agent may not treat an intimation of interest by
the buyer himself or herself as sufficiently formal to be treated as a genuine “note of interest”.

When I’m selling can I negotiate a price with my viewers?

Well not if you use us to sell and follow our advice! We find clients who try to do this almost always get
themselves in a mess – with their negotiating efforts usually ending in unhappiness all round. A typical scenario
is a seller “negotiating” a price with a buyer - “shaking on it” then finding out another buyer is interested and may
offer more and wanting to get out of the “deal” they have just done. Our staff will know when it is appropriate to
negotiate on price and when it is not, and they also know how to negotiate. Generally sellers get the best price

the market will bear if they work closely with the selling agent. We strongly advise our clients not to discuss price
with viewers. Leave that to us and the buyer’s solicitor.

What’s the difference between a Solicitor and an Estate Agent?

Solicitors are qualified to do the legal work actually transferring ownership of a property to the buyer – estate
agents are not. Many solicitors like Caesar and Howie have a legal part of their firm which does the legal work as
well as an estate agency department which does the estate agency. So a firm of solicitors with an estate agency
department can do all the work necessary on completing a sale.

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