Page 11 - International Buyers Guide

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Note of Interest
Offers Over

A formal notification submitted by a buyer’s
A common Scottish pricing convention
solicitor to the seller’s solicitor estate agent,
indicating that the buyer is interested and may where a guide price is set below the
expected sale price, inviting offers
intend to submit an offer. It is not a legally
above that figure.
binding commitment, but it registers the
buyer as an interested party and ensures they
are informed of significant developments,
such as a closing date being set.

Solicitor

A qualified legal professional who
Missives advises clients on buying and selling
property. In Scotland, solicitors
are regulated by the Law Society
The formal legal letters exchanged between
of Scotland and provide specialist
the buyer’s and seller’s solicitors during
guidance to ensure transactions are
a transaction, setting out the terms and
conditions of the sale and purchase. Once completed accurately, efficiently and in
line with Scottish legal requirements.
all terms are agreed and the final letter
is exchanged, the missives are said to be
concluded and a legally binding contract is in
place. The sale then proceeds to settlement
and transfer of ownership on the agreed date.
Valuation

The estimated value that a property
could achieve if placed on the market.

Buying in Scotland | 11