Selling & buying process in Scotland

[Meandacat]

Can someone explain to me the process of buying and selling property in Scotland, specifically with regards to the whole thing being "chain free"? My understanding is that if you see a property and have your offer accepted, you have to agree on an entry date and that is binding. But what if you haven't yet sold your current property first? Does this mean, really, that you can only buy somewhere new if you've already sold your current one? And then again, what if you have sold your current house but haven't yet found anywhere to buy? I just don't understand what happens between the two.

Having been caught in chains in the past, I can see how avoiding this is a good thing. On the other hand - if, as I suspect, you end up having to rent in between sale/purchase in Scotland, that seems to me an almighty pain in the arse (moving twice etc.). And it also means that you have to commit to selling without ever knowing if you'll find the right house to move on to, or you miss buying the house of your dreams because your own house is not yet on the market or sold. Is that just the reality of it?

It pretty much works like that, although until missives are signed nothing is actually binding but it would be poor form to pull out unless for a very good reason such as a mortgage not being approved or something beyond your control to an extent. We sold our last place before buying, as it wasn't a sellers market at the time, so the way you do things also depends in this. It does mean there's a bit of a panicked rush to find somewhere, but most people we know manage it. I'm not sure this is really much help now I read it back! Good luck.

I'd also say it would be lucky to avoid a chain at all, and that if you know you still have to find a place then try for a long entry date to buy you more time!

My mum got a bridging loan for about 3 months.

She made offer in May, completion date was mid-August, so she had the new house mortgage and the old mortgage to pay till she sold in November. Upside, was that we could start redecorating the new house in August, but was obviously more costly.

People don't generally rent between. In reality there are chains - but they don't collapse. I think one of the differences is the moving date is often set early and is adhered to. Concluding missives is the key thing - which can happen quickly, but still can end up being sorted right up to the day before moving. A solicitor is the person you need to speak to as they make all the offers etc. there are a few big property centres - espc (edinburgh), gspc (glasgow) and others. Pop in / phone and have a chat to them. Renting between is not the norm. However you need to get good advice on the markets in which you are buying and selling to work out which to do first. (If the market is moving quickly you buy first and vice versa)

Thanks everyone. I'm surprised there's not more renting in between, but I can see now that agreeing the dates is maybe key.