The Property Podcast
About This Show
The Property Podcast is the podcast for all property investors, new or experienced. Rob Bence and Rob Dix discuss a different property topic and property news item every week, passing on their knowledge and experience to the listeners. They both invest in UK property so they practise what they preach. No hard sell, no bull, just straight-talking property investment advice!
Most Recent Episode
TPP210: Property investment in Scotland: how and where to buy
3 days ago
A long overdue podcast focussing on buying in Scotland. What to be aware of when you buy in Scotland, and of course, we will be discussing where to buy. Check the Home Report. The Home Report is a document that exists in Scotland but not here, and we love this as it gives both parties a lot more confidence in the sale as it progresses, as there are no surprises that crop up along the line. This will contain a survey (including a valuation), an energy report and a property questionnaire. Plan your offer Properties are marketed at a fixed price (which you can offer below if you want), or “offers over”. When it’s “offers over”, you submit a sealed bid before a certain date. After the deadline, the vendor’s solicitor opens all the offers and the vendor chooses which to accept. Your solicitor puts in the offer Offers are made by your solicitor directly to the vendor’s solicitor – not via estate agents. So you need to have a solicitor in order to make an offer. You can make your offer “subject to survey” if you want to get your own survey done rather than just relying on the Home Report, but this will obviously be less attractive. Go through the legals If your offer is accepted, the vendor’s solicitor will issue a “qualified acceptance” and pass across the property deeds and other documents. Your solicitor will go through it all and raise enquiries. Once they’re happy, the two solicitors exchange letters – this is known as “concluding missives” and at this point the sale is binding on both sides Complete On the date agreed in the contract, you pay the full purchase price (there’s usually no deposit) and the property is signed over to you So, that's the process, but where should you buy? Edinburgh – An extreme