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estate agents

Q. What if I still have a property to sell?

A: If your purchase of a property is dependent on the sale of an existing property, we recommend that your sale is well advanced, if not completed, before viewing properties on the island. Disappointment can arise if you have selected the ideal property on Arran only to find that you are not in a position to purchase.

Q: As a purchaser, what charges do I incur?

A: We make no charge to you, we listen and work with you to you to find your perfect home. When you are ready to make an offer to purchase a property (or some land) the only requirement which we have is to take your ID details and proof of funds. We are legally required to do this by HMRC. For example if you have a mortgage arranged we may ask to see a copy of your mortgage offer or if you are making a cash offer we may require to see details of your finances. Your are assured of our absolute discretion and confidentiality at all times.

Q: What is a Formal Offer?

A: A formal offer is prepared by the purchaser's Scottish solicitor, in writing, on behalf of the purchaser and submitted to the seller. This is the opening "missive" in the contract.

Q. What is a clean offer?

A: A 'clean' offer is a formal written offer from a Scottish solicitor which has a minimal amount of clauses which are liable to cause ongoing discussion and consequential delays.

Q: What is meant by Offers Over?

A: The Seller is indicating that they wish an offer in excess of the advertised price.

Q: How does "Offers Over" work?

A: Offers are usually invited over the specified price; properties can go for more than the asking price, but this depends on the individual property and circumstances. If there is a closing date for offers, we always suggest to interested parties that they offer the maximum amount they can afford.

Q: What is meant by Guide Price?

A: This is the price which the seller is expecting to achieve for their property and is usually the valuation contained within the independent Home Report. It should not deter purchasers from offering above or below that level.

Q. What is a note of interest?

A: A Note of Interest on a property can by lodged formally by the interested party’s solicitor or simply by the party informing the selling agents, in this case Arran Estate Agents. It means that you would be informed, as far as practical, of any further significant progress with the sale of the property such as a closing date for offers. It does not mean that the seller is obliged to inform you and it is still possible that an offer may be accepted in the meantime. It is entirely up to the seller, sometimes an offer can be ‘too good to refuse’

Q: What is a Closing Date?

A: A closing date is fixed when more than one party has noted interest in a particular property. A date will be fixed when offers are to be submitted, usually in Scottish legal form by a solicitor. Your solicitor and yourself will be notified of the date. Remember it is not always the highest bid that is successful - there are other factors which may determine whether your offer is accepted so you should try to make your offer as straightforward as possible.

Q: Is a Closing Date for offers always set?

A: No, if only one party wishes to make an offer on a particular property, and there are no other Notes of Interest, an offer can be made to Arran Estate Agents either verbally or through a solicitor. However we would recommend that anyone wishing to offer has ensured that they are in a financial position to do so. In addition, a seller may not wish a Closing Date for offers to be set, in which case Arran Estate Agents will adhere to the instructions of our client.

Q. What does 'subject to survey' mean?

A: An offer which has a 'subject to survey' clause denotes that the offer is conditional upon the prospective purchaser obtaining a satisfactory survey on the property. Home Reports will often satisfy any concerns. Ideally the property should be surveyed prior to the offer being submitted but if this is not practical a "subject to survey " offer will normally need to be surveyed within 48 hours of being verbally accepted.

Q. How do I arrange for a property to be surveyed?

A: Arran Estate Agents will be pleased to recommend Chartered Surveyors who frequently carry out surveys on the island. As the client, you must instruct the survey personally and the surveyor will report directly to you.

Q: What is a Home Report?

A: Houses for sale in Scotland have to be marketed with a Home Report. This is a pack of three or four documents: a Single Survey, an Energy Report and a Property Questionnaire. In addition some surveyors also include a Mortgage Valuation Report. The 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. The 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 its energy efficiency. The Property Questionnaire is completed by the seller of the home. It contains extra information about the home, such as Council Tax banding and factoring costs that will be useful to buyers. The Home Report is made available on request to prospective buyers of a home. There is no legal requirement to update the Home Report provided the house remains on the market.

Q. Do I have to use a Scottish Solicitor?

A: Yes. If you do not have a Scottish solicitor, Arran Estate Agents can provide you with a list of solicitors who are familiar with Arran properties and are happy to act for you in the purchase of property on the island. Your solicitor is the correct person to guide you through the offering process and whether or not you are in a position to offer on a property.