Gearing up to buy a property? The process involves a number of stages - but you knew that. Itching to get the wheels turning anyway? One of the first things you will have to do once you've found a property that you like is put in a note of interest.
A Note of Interest is the initial step that home-buyers in Scotland make to let sellers know that they would like to make an offer on a property before it is sold. Buyers who want to note interest in a property do this through their solicitor. If, for example, you found a property on the Blair Cadell website that you liked you would then get in touch with your solicitor who would contact us on your behalf. It is a quick process and it means that you will have the chance to make an offer once you are ready.
Sellers may decide to set a Closing Date on the sale of their property. This is a date set by which all offers must be received from those who wish to make one. In this instance the seller's solicitor would get in touch with every potential buyer who has noted interest and give them an opportunity to bid on the property.
However, one thing to remember is that Notes of Interest are not legally binding. In some cases a seller can sell the property you are interested in to somebody else without giving you an opportunity to offer. The Law Society guidelines say that solicitors should make every effort to ensure those that have made a Note of Interest get a chance to make an offer. But at the end of the day the final decision lies with the seller.
As property experts Blair Cadell are in the best place to advise you on your sale or purchase plans, with area and price comparisons, opinion on market conditions, practical property issues and negotiating tactics. Our conveyancing specialists will be on hand at all times to co-ordinate and advise on all of your legal arrangements and queries from the word go.
Blair Cadell are a leading firm of Edinburgh solicitors, dealing in a wide range of property, business, tax and personal legal services. We deliver Big Firm Service at a Competitive Small Firm cost. Call us FREE on 0800 515 626 for an initial consultation.