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Original poster

Conveyancing in Edinburgh

27 replies

cherrytrees123 · 30/06/2018 08:38

Trying to buy a house in Edinburgh, we need to move by 18th August. Seller's estate agent said there is not enough time! Since neither party needs a mortgage, is this true? I really want this house! The seller hasn't bought yet, they are waiting to sell. If we have to go into rental, what is the best way to find a short term solution?

OP posts:

user1487194234 · 30/06/2018 08:48

It is plenty of time to do the conveyancing The issue will be the sellers finding a house to go to

anxious62 · 30/06/2018 17:21

May be just. It’s enough time for conveyancing but the delay will be the lender issuing loan papers. Solicitor won’t conclude missives without them. Depending on the bank, the average wait is 8 weeks. Sometimes more and sometimes less.

It’s 7 weeks away. If you were our client I’d be saying unlikely but we would try.

anxious62 · 30/06/2018 17:22

FFS. Must read properly. Neither needs a mortgage. Yes, it can be done. Easily. Can be done in four/five weeks if both are straight cash buyers and not waiting on any buyer of their own needing a mortgage if that makes sense.

FrancisCrawford · 30/06/2018 17:23

This reply has been deleted

Message withdrawn at poster's request.

Pippylou · 30/06/2018 17:28

No mortgage, that's rubbish. It's usually the mtg that holds things up, so would think it's your sellers not wanting to move that quickly.

We moved out with a 4-week deadline a few years ago and that included very squeaky bum leak and planning issues (which the buyers knew about.)

There are no chains in Scotland (I know that is changing but it was never the case traditionally) so the options are staying with family or friends with your stuff in storage, staying in holiday let accommodation (which may be hard peak season) or if you are currently in a rental, asking for an extension to the lease.

My in-laws are currently moving back to Scotland and there's an issue with their new place, so they have an licence to occupy the new house whilst the legal stuff is being sorted. Bit different as it's a probate situation but thought I'd mention it.

Aspieparent · 30/06/2018 17:34

We got a mortgage and papers issued in a week we have spent most of the time awaiting on the sellers solicitors. It seems to be one of them things that really can't be in a time scales sometimes it's hardwork getting though to solicitors.

user1487194234 · 30/06/2018 18:18

There are no chains
Post 2008 that’s not true
With no mortgage,as OP said ,the proposed entry date is not an issue (and nothing to do with estate agent)
If sellers won’t proceed until they have a property to go to that is an issue
Particularly if no concluded contract
I would give them a fixed period to proceed,and be prepared to look elsewhere

anxious62 · 30/06/2018 18:22

Wow aspie, that’s impressive. In the years I have been working in a solicitor estate agent, I don’t think I’ve ever heard of a lender going from application to papers being on a solicitors desk in a week.

user1487194234 · 30/06/2018 18:27

With a decent Mortgage advisor and straightforward application 1 week is not unusual nowadays
BOS can be very quick

anxious62 · 30/06/2018 18:38

Sorry but yes it is. Very much so.

Aspieparent · 30/06/2018 18:49

Anxious we were really surprised how quick it was and so was our solicitor. He actually said he's never know a house sale go so quick. A month in we are at end stage.

user1487194234 · 30/06/2018 19:00

In your experience but not in mine
Anyway no mortgage here
With no mortgage and a willing buyer and seller 4 weeks is pretty standard ,I regularly do that timescale

Original poster

cherrytrees123 · 30/06/2018 22:15

This is interesting. I have put in an offer but the sellers estate agent does not seem motivated. Waiting till Monday to see if the offer is accepted, but with the seller not having found a property this is a big worry. We can't extend the lease where we are renting, as the house we are in is being bought. I guess we will have to look at a holiday let and put our stuff in storage if necessary, but I really really don't want to do that.

OP posts:

Edinburghsmedinburgh · 30/06/2018 22:21

Is it the case that the seller doesn't want an early date? They will end up in the same position you could be in - renting or camping out, why would they choose to do that if they think you will wait? This would only work if there aren't lots of people interested in buying.

Original poster

cherrytrees123 · 01/07/2018 07:03

Unfortunately there are lots of people interested in buying so they can probably afford to wait. I don't understand why they didn't look for something to buy first , before putting their house on the market. Their house will sell very quickly anyway.

OP posts:

kirkandpetal · 01/07/2018 08:33

Renting in Edinburgh is not cheap or easy, esp at this time of year when the festival is on. I doubt the sellers want to be pushed into that situation. Do you know if the sellers are wanting to stay in Edinburgh....are they downsizing?

My parents re sticking their toe into the downsizing market and they categorically will not sell until they have bought. Trouble is, there is a lot of competition for the type of house/flat they want. Their own house will sell easily but they also don't want o be in a situ where they have to rent short term.

MoreProsecco · 01/07/2018 09:29

I moved in Edinburgh with 6 weeks notice. It worked because the sellers got somewhere lined up quickly with a short entry date (at the time of going on the market, they didn't have anywhere to go) & sold to the 1st viewers - us. They wanted a quick move, as did we.

Unfortunately your seller holds all the cards here, OP. The market here is incredibly strong, and your seller will likely want a closing date & choose an offer where the entry date suits them best.

All you can do is put your best offer forward & go from there.

Edinburghsmedinburgh · 01/07/2018 12:44

Because if they see a place they like, they won’t be able to put in a strong offer - they would have to say they still have a house to sell. There’s a risk in not looking for a new one till you sell (you might have to rent) but when you see the place you want you are much more able to pounce on it.

Original poster

cherrytrees123 · 01/07/2018 16:43

Well, it's encouraging to see some people have managed it. Just have to see what the sellers say tomorrow. The last thing we want to do is go back into rental.

OP posts:

MoreProsecco · 06/07/2018 20:23

How did you get on, OP?

Original poster

cherrytrees123 · 06/07/2018 20:49

We got the house but I am now worried we paid too much. Bidding against someone else and I was absolutely desperate not to lose it. I dont think my solicitor was much good. I had to press her for advice and she wasn't particularly engaged or proactive. She says we got it for a reasonable price but now I'm haunted that we paid too much!!! Would have been gutted to have lost it though and we have our backs to the wall. Have to be out of rented soon and nowhere to go.

OP posts:

MoreProsecco · 06/07/2018 21:58

Glad to hear you got it! The market here is very strong; I know of buyers who have lost out on multiple properties at closing dates so that's very positive. My understanding is that prices are at least 10% above the home report value in some areas.

I've heard Factotum are good for short term lets. Remember that tenancy law changed last year, so it's no longer an automatic 6-month lease. This could work well in your favour.

Original poster

cherrytrees123 · 07/07/2018 08:37

Thank you More Prosecco. We were lucky as they set an early closing date because they didn't want to lose us or we would have been bidding against a lot more people I think. The market seems very strong at the moment, it seemed much weaker last year for some reason. I am so glad to have got a house, but we have to spend four weeks in a holiday let before we can move in as they haven't found somewhere to go. It's all very stressful but hopefully when we get there things will be easier!

OP posts:

MoreProsecco · 07/07/2018 09:29

Which area are you moving to?

spiderplantsgalore · 07/07/2018 10:52

Many years ago my solicitor told me I was paying too much for a beautiful flat in another part of Scotland, at a time when prices were rising very fast.

I still live in the same flat and still love it. I would also have been gutted if I hadn't got it, so it was worth every penny to me.

I hope you feel the same when you re finally able to move in.

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