Guide to selling in Scotland.

Guide to
selling in
Scotland.
Going the extra
mile for you is part
of our tradition.
Selling
ESPC’s property experts can
help with simple, straightforward
advice on every aspect of the
moving process. For property,
done properly, all you need is
ESPC.
We’ve produced this simple
ten-step guide to help you
secure your next home.
1. Details of your current
mortgage
Before you do anything else it’s best
to determine your financial position.
This may make a difference when it
comes to what offer you accept on
your property and what your next
steps will be.
If you have a mortgage on your property
you’re best to contact a financial adviser
or your mortgage lender to find out
the specific details of transferring your
mortgage to another property. In
addition to this they will also advise on
what you can afford when purchasing
your next home.
2. Instruct a solicitor
Choose a solicitor to handle the
sale of a property from start to finish
- marketing, selling and conveyancing.
Most solicitors offer free valuations,
it can be a good idea to get a few
round to find the one which suits
your needs best.
When it comes to the local market
and pricing your property for that all
important sale, ESPC solicitor estate
agents are the experts. With access to
ESPC’s powerful database of archive
sales, they can offer well-informed
guidance on setting the right price
based on current market conditions
and whether it is best to set the price at
Offers Over, Fixed Price or Offers Around.
3. Marketing your property
Your solicitor will prepare all your
marketing materials, including schedules
and For Sale Boards, as well as ensuring
your property is marketed on espc.com,
in The ESPC Paper and in our showroom.
In addition to this you’ll need a Home
Report before you can market your
home. The majority is created by a
surveyor and your solicitor will help to
arrange this for you.
Only an ESPC solicitor can provide
exclusive access to ESPC’s three marketing
channels - espc.com, The ESPC Paper and
the ESPC showrooms which offer great
exposure to the widest audience helping
you sell your home. Your solicitor will also
offer advice and carry out the legal side
of the sale.
ESPC advertising attracts
the widest audience to
sell your home.
4. The Home Report
explained
A Home Report is required for the
majority of Scottish properties for sale.
It is made up of three documents:
1. Property Questionnaire: completed
by the seller of the property, usually with
the assistance of their solicitor. It contains
information about the home that will be
useful for buyers and surveyors.
2. Single Survey: contains an assessment
by a surveyor of the condition of the
home, a valuation and an accessibility
audit for people with particular needs.
3. Energy Report: contains an
assessment by a surveyor of the
energy efficiency of the home and its
environmental impact. It also
recommends ways to improve the
energy efficiency of the property.
Just ask our friendly staff
how to find out more about
the Home Report.
What you need to know about
Home Reports
1. A Home Report is commissioned by the
seller and is completed by the seller, their
solicitor estate agent and surveyor.
2. A surveyor will complete the Single
Survey and the Energy Report.
3. A Home Report must be prepared before
a property can be marketed for sale.
4. The Home Report cannot be older than
twelve weeks when the property starts
to be marketed.
5. The cost of a Home Report will vary
depending on the type of property.
6. The seller is responsible for the cost of
the Home Report.
7. There is no set shelf life for a Home
Report, however if a property has been
on the market for some time the mortgage
lender may request an updated version.
8. A Home Report can be obtained by
clicking the Home Report link on espc.com
next to property details or by contacting
the seller’s solicitor.
9. If requested, a copy of the Home Report
must be provided to a prospective buyer
within nine calendar days.
10. Most properties require a Home
Report, however there are a small number of
exceptions. Contact your solicitor for details.
5. Preparing your house for
sale
Presentation is everything. It doesn’t
mean you have to spend a fortune
getting your home ready for the
market but it does mean you should
take time and care to ensure there
are no loose ends around the house.
A simple freshen up inside and out may
be all that’s needed to make sure your
property is well-presented and tidy for
photographs and for viewings. Kerb
appeal is important so don’t forget to
tidy up the garden too.
One way to ensure your home is
looking its best is to think of the
photographer as your very first
viewer. Opt for open, neutral space
rather than lots of furnishings or clutter.
The photographs are what’s going to
get viewers through the door so it is
vital that you take the time to get this
part absolutely right.
6. Viewings
Meeting and greeting complete
strangers is not always as simple
as it seems but your ESPC property
expert will help with useful hints and
tips on how to make every viewing
count. Some solicitors offer an
accompanied viewing service so if
you are not comfortable with this part
of the process, ask them for details.
For viewings make sure your property
is always tidy, switch on lights to make
the space feel brighter and create a
welcoming environment by putting
out flowers or brewing some nice
fresh coffee to make the viewer feel
right at home!
Knowing your property
has officially sold
through ESPC...
7. Negotiating offers
Your solicitor will negotiate the selling
price and other matters, such as date
of entry, on your behalf. There are
two main circumstances which can
happen when offers are submitted.
A potential buyer will submit an offer
on the property. You can either choose
to accept the offer or go back to the
buyer and negotiate on the price.
If there has been a note(s) of interest
on the property a closing date will be
set. This means that if any potential
buyer is interested they should also note
interest, rather than make an offer just
yet. Buyers with noted interest will be
given the opportunity to make an offer.
At the closing date any offers should
be submitted. It’s a blind auction: buyers
won’t know what other people are
bidding, or even if they’re making an
offer at all. It is then up to you if you
wish to accept any of the offers.
8. Offer accepted
Your property has almost sold! Following
a successful negotiation and once missives
(the binding contract between the buyer
and the seller) have been concluded,
there are further checks that your solicitor
estate agent must do before drawing
up new title deeds and transferring
ownership of the property.
“Missives - the binding
contract between
the buyer and the seller”
The money from the sale will be collected
and arrangements made to discharge and
repay your existing mortgage (if you have
one) on the agreed date of entry when
the property is officially sold.
9. Moving day
Make sure you’re prepared! There are
a number of things you need to think
about in advance of the actual moving
day such as cancelling any telephone
or internet connections and booking
removal help so that everything is in
place to ensure that all your belongings
are out of the property for the agreed
date of entry.
“There are a number
of things to think about
in advance”
Do you want to use a removal company
or do you have a good bunch of friends
who can help with the move? A DIY
move could be the most cost effective
option but it can be hard work. Removal
firms are the most popular option.
Don’t necessarily go for the cheapest.
Remember, you are entrusting all you
own to these people, so make sure it is
a reputable firm.
10. Tell everyone
Once you’re in the comfort of your
new home remember to inform
everyone such as your doctors,
bank and DVLA that you have
moved as you don’t want to miss
out on any important information
which is going to the wrong address.
It is also advisable to set up a redirect
for a period of time through the
Royal Mail.
Then sit back, relax and enjoy
your new home!
Find out more...
We have real people on hand to
answer all your property related
questions. Just give us a call on
0131 624 8000 and one of our
friendly advisers will be able to
help you.
All you need is ESPC
buying | selling | advice | mortgages | lettings | premier
To find out more about our other services
visit espc.com
For general enquiries
call 0131 624 8000
Our showrooms
George Street
Edinburgh
New Row
Dunfermline
The initial consultation with an adviser is free and without
obligation. Thereafter, ESPC Mortgages’ charges for mortgage
advice are usually £350 (£250 for First Time Buyers). YOUR HOME
MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS
ON YOUR MORTGAGE OR OTHER LOANS SECURED AGAINST IT.