Scottish buying process(35 Posts)
Just be aware of LBTT (Scottish stamp duty tax). I'm not sure how things will work if you own a property in England, but there is an additional tax called ADS additional dwelling (or similar) which you have to pay if you are buying an extra property & not selling your primary residence.
It can be quite hefty.
The EA Marketing the house I bought emailed me the home report. I put in a verbal offer for 10% over the asking price which was accepted. My solicitor then did it formally. It was all done & dusted and I had the keys 4 weeks later
OP, how urgently do you need to move? The housing market will be quietening down now towards Christmas and there may be few properties to choose from.
It all picks up massively towards spring, so if you can hang on a few months you’ll have a much better choice.
My DD bought last year in Edinburgh, and 2 bed flats were going for £40,000 over the asking price. One even went for £70K over.
East Lothian is in commuter reach of Edinburgh, and prices reflect that in areas with good transport links to the city.
If you offer under the asking price you are likely to be repeatedly disappointed.
I live in East Lothian and it’s fantastic. Dunbar is lovely - lots of new builds which take a while to shift and don’t go for over asking price really, but anything older with character gets snapped up and sometimes way over the AP. Just depends on what and where really. Anywhere with a decent sized garden seems to go really fast.
@solera2015 If you're looking for something with a large garden, not a new build, access to good local amenities, good transport links then you're likely to be up against a lot of competition. Properties in this category sell FAST, and often for significantly more than the offers over price or the home report valuation.
Also the Scottish system means that being 'chain free' isn't really an advantage. Usually once you've put in an offer (and it's been accepted) there's no backing out, so chains don't exist. Occasionally buyers will put in an offer 'subject to sale' (of their own property) but they're rarely accepted and very unlikely in the sector of the market that you're interested in.
Friends have recently moved to East Lothian, from Newcastle. The period of searching was incredibly frustrating for them. Houses would appear on the market and be 'under offer' within a couple of days, before they could even get a chance to view them. There is not generally a gazumping culture here, so once something is under offer they are just haggling on minor details and it's pretty much off the market. It took a year for friends to find the right home for them, and in the end to get the high spec interior, and the garden space they had to compromise on location and are a bit more rural than they would have ideally liked.
Between £750K and £1.5m - retirement house so flexible on price and rooms.
Here are some recently sold properties in the same price range:
To PP chains very much exist in Scotland now
Certainly across the central belt
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