Selling a house in Scotland. Clueless here.

[FIFIBEBE]

I am in the very fortunate position of having inherited a property some time in Edinburgh (years ago) and have decided to sell. I live in London and am selling through an agent. The house went on the market 8 days ago and has 7 notes of interest (I appreciate you can have numerous NOIs on different properties) and one person keen for me to set a closing date as they want the house (apparently) The agent has told me the position of some of the people interested but not all, can I push to find out? The house is marketed £10K below the HR value and needs about £50K of work doing to it. The system is so different to selling houses in England and I would appreciate any advice regarding when to set a closing date.
TIA

[Thinkingofmyfabfour]

I'm no expert but where I live people would set closing date once they have a few noi, but make it a week away to allow time for 2nd viewings etc.
Can you ask your estate agent for advice on this?

[prettybird]

I would set a closing date of next Friday, say at 1pm. Gives them time to get 2nd viwings in, look at the Hope report and get their own survey done if they want to.

[lyndie]

There is less jiggery-pokery etc in Scotland when house selling so when you set a closing date those with NOIs will all be informed. My solicitor said if you have 3 NOI to set a closing date though it will depend on the state of the market. It sounds like you have had good interest in your property so far.

Where in Edinburgh?

[7to25]

You are in a great position and should set a closing date before it goes off the boil
You do not have to worry about how "proceedable" the people who have noted interest are. They have to worry about this themselves.
You may have several offers and can choose any you think fit.

[prettybird]

"Hope" report = Home report

[tobiasfunke]

With seven notes of interest I'm surprised your agent hasn't suggested one soon. It's usually set for a week or two away
You never know how many of those notes of interest will actually bid even if they are all in a position to make a bid. You are not obliged to accept any of them if you don't want to.
Your agent won't know the position of those noting interest but their solicitors will have told them they can't make a bid unless they are in a position to move. Bridging loans are basically a thing of the past and once missives are concluded the buyers have to pay up.

[prettybird]

Iirc, when we bid on the house we are in now, we included in the bid the date we intended to complete by.

[Crutchlow35]

I am a Scottish EA and your agent should definitely have set a closing date by now. If it were me I would be looking at Tuesday of next week. Don't let it go off the boil and don't give your NOI time to see anything else on the market. Plus gives them the weekend to sort out second viewings and get new people over the door.

The buyers position really shouldn't concern you until you have the offers in. Remember the highest offer may not be the best option.

pM me if you need anything else.

[FIFIBEBE]

Thank you all, will have another open house this weekend and then set a closing date and hope I get a result. Don't really want to say exactly where it is except it's to the east of the city and a "doer upper" Crutchlow25 that is more or less what EA is saying.

[Crutchlow35]

Get the agent to advertise the closing date now. It gives those with NOI to speak to their solicitors and get organised. It also lets anyone new aware of the position. You can't have the weekend and then tell everyone it is Tuesday. Set it now so everyone has plenty of time.

[Thinkingofmyfabfour]

I agree with crutchlow, set closing date now for midweek next week so viewers this weekend realise there is defined time in which to act if they want it. Good luck!

[SpecialJK]

Agree. think you need to set the date now, will push people into getting themselves organised with a 2nd viewing if they need to do one over the weekend.