Residential Property - Buying - RD Legal | Edinburgh Solicitors & Estate Agents

Buying a Property

Buying a home is perhaps one of the most exciting things we get to do.

It can also be a time consuming, stressful, seemingly never ending search to find the right place. Then you have the hurdles to overcome in order to buy it, such as having your offer accepted, securing a mortgage, completing the legals, and finally moving in.

RD Legal are here to make it a lot easier for you.

Not only do we have many years of experience in buying property for others, but perhaps just as important is our experience of buying our own homes, so we really do have a deep understanding of what has to be done and the help that is required. And, we can always be contacted by phone, email and text to guide you every step of the way.

For those buyers new to Scotland, the process can become even more daunting, with many homes going to closing dates, when all interested parties submit offers by a set time and date. Let’s break down some of the steps.

Looking for help with buying a property?

Get in touch for a chat today and we’ll be happy to assist.

Finding the Property

Step 1: Look on the ESPC and Zoopla

It’s all about those all important property platforms, like the ESPC, Zoopla, Right Move, OnTheMarket and Prime Location. Remember in Edinburgh & the Lothians the ESPC is by far the most important platform to have you property listed on. This is the difference that makes the difference. If someone has a property to sell the ESPC is where the vast majority in Edinburgh and the Lothians will be bought and sold. Check that your property will be listed on these sites.

The property platforms make life a lot easier for you to find a property. Long gone are the days when you have to traipse around a dozen estate agents offices to pick up details, collect schedules and particulars, hoping to find one you might like. Long gone are the days of having to wait for Thursday’s edition of the ESPC listings.

A quick click and search on the big platforms make this easier, faster, and wider. So you’re much more likely to find the properties you want, in the locations you like, at a price you can afford. Let’s be honest, it’s definitely a lot easier than spending hours trawling through dozens of individual estate agent and solicitors’ web sites.

Step 2: What can you afford?

It helps to understand what you can afford to buy. This also means knowing how much you can borrow, how much your existing property may sell for, and not underestimating the additional costs like LBTT and registration dues. Remember, there are currently Land and Buildings Transaction Tax (“LBTT”) discounts for first time buyers.

We work with mortgage advisers who can help find the best deal to suit you whether you’re a first time buyer, moving up the property ladder, self employed or it’s an investment property. Just give us a call, we’re happy to help and we will give you a clear estimate of legal fees and outlays.

Step 3: Making an offer

If you have found a property you like, and can afford to buy, then give us a call. We can chat about its valuation, review the home report, discuss making note of interest or a formal offer.

This is such an important step for you. It’s a very fine balance between what you can afford to pay and what needs to be offered to secure a property. This is especially the case if a closing date is established and multiple bids are expected. If you offer too little then you can lose out and if you offer too much remember the borrowing limits are based on the valuation.