Our Most Asked Questions From Sellers
Here at Lanarkshire Law Estate Agents we spend every day speaking to many buyers and sellers, we have comprised a list of our most asked questions as an estate agent. How much does a valuation cost? For the most part all estate agents offer a free property valuation service. Here at Lanarkshire Law Estate Agents all our property valuations are free of charge. If you are looking for a valuation for mortgaging purposes you should speak to a surveyor regarding costs. Click here to book your free property valuation. What are your fees? We look to tailor our fee package to suit each individual seller. We offer both a fixed fee and a percentage of the sale. This can be discussed at your property valuation. When are fees due? Upfront fees....no one wants to hear this when selling their home. The only upfront cost to sell your home with LLEA is your home report. This allows you to sit back and relax while we do all the work and fees can be paid on date of entry and fees will come off the proceeds of sale. Who will conduct viewings? Our number one priority is our clients and we want to make the selling process stress free and enjoyable for our sellers. Whether you want to make yourself scarce and let us do all the work or get knees deep in viewings the choice is yours. If you would prefer to be present when the viewings are taking place that can also be arranged. We also don't charge an extra fee for accompanied viewings. How are viewings going? From the beginning to end of the selling process we keep our sellers up to date with everything. We contact all our clients to inform them of viewings booked for the day and also let them know the feedback from the day before. All our clients are kept fully up to date throughout the selling process and right through the conveyancing to the point of date of entry. Can you recommend a solicitor? Lanarkshire Law Estate Agents offer a one stop shop when it comes to selling your home. Our sister company Lanarkshire Law Practice are available to take care of all your conveyancing. We ensure each and everyone of our clients have a 5-star service, we really do everything but the packing. https://www.facebook.com/LanarkshireLawEstateAgents https://www.facebook.com/LanarkshireLaw
COVID-19 Guidelines
As of the 4th of January 2021, the Scottish Government has given the green light for the property market to continue operating during the restrictions. This means that we are still able to provide our services to those interested in selling or moving house. We have put in place some guidance to help protect our vendors, staff and customers. It is important that we all follow these rules to ensure the safety of everyone and prevent the spread of the coronavirus. COVID 19 is making its way through the UK Please find below some frequently asked questions and answers as well as our guidance on how to remain safe while selling or buying a property. Can I still move house during the current lockdown? Yes. The Scottish Government has permitted house moves to still go ahead. This means you are still able to sell or buy a property in Scotland in tier 4. Please see our guidance further below on current procedures in place to keep everyone safe. Is your office open? We are currently in the process of moving to a new office and hope to be working from there when able. Please keep an eye on our Facebook for more updates. We thank you for your patience. Is now a good time to sell my property? Yes! Rightmove data showed that sales went up over the festive period and we expect interest to continue through the New Year. Despite restrictions, people are still very much interested in buying properties. Can I still get a valuation? How is it carried out? You can still get a free valuation for your property. One of our agents will come out to value the property and follow guidelines to ensure your safety. We also offer desktop valuations if you would prefer but we advise that it is best for someone to value the property in person. The agent will wear a face mask during the valuation and carry hand-sanitiser. They will sanitise their hands before and after the visit. We ask that you turn on all lights and open the doors before the agent arrives so that contact is kept to a minimum. Please open all windows to make sure there is ventilation. If the space is too small to maintain a safe social distance we will ask if you could please wait in another room until we are finished. If you have any symptoms of coronavirus before or after the valuation please notify us as soon as possible. Are viewings still permitted? Viewings are still permitted but it is important to follow safety guidelines. If we are conducting the viewing: An agent will arrive early to prepare the house. We will open doors, turn on lights and open windows so that there is ventilation and no need to touch the handles. We will sanitise our hands before and after the visit and ask that those viewing the property do the same. The agent will wear a face mask during the visit. We ask that those viewing the property also wear a face mask. Social distance will be maintained and if it is difficult to do so, we will wait in another room to allow those viewing to look around safely. We will contact the people viewing the property beforehand to advise of these guidelines. Please do not be offended if our agent does not shake your hand when greeting. We are doing our best to minimise contact. If the vendor is conducting the viewing: Please maintain social distancing at all times. If it is difficult to keep apart then please consider moving to a different area and providing space for people to look around the home safely. Face masks and coverings should be worn at all times during the visit unless medically exempt. Please turn on lights and open windows prior to people arriving for the viewing. This means they will not need to turn the light on during the visit and that the rooms are well ventilated. Doors should also be opened before the visit takes place. Please notify us immediately if there has been a change in your health or anyone you have been in contact with which would mean the viewing could not go ahead. Please wash and sanitise your hands before and after the visit. We will ask those viewing to do the same. Surfaces should be cleaned down before and after the visit. Handles should also be cleaned. If you are viewing a property: If you are unwell and suspect it could be a risk, please notify us and do not attend the viewing. Sanitise or wash your hands before and after a viewing. Refrain from touching surfaces unless necessary. Use a face mask if you are medically able. Only attend the property with someone else from your household. Anyone else that accompanies you will be asked to wait outside. Maintain distance. Our agent or the person conducting the viewing will wait in another room if there is not enough space to make it safe
November 2022 Market Report for Lanarkshire
Christmas songs are on the radio, there's a flurry of activity in the shops and the promise of lots of fun with our loved ones. It is also the season for questions like whether a home is large enough for the whole family or whether, children having flown the nest, it is too large? New Year means new beginnings for many and so inevitably the thought of a new home is on many people's minds. All this means that the property market is approaching its traditional busy season. Let's have a brief look at what's been happening over the last month in the local property market around Lanarkshire. There are currently 620 properties available on the market in the area. The month prior there were 687, with 707 in September and 681 in August. The high number of available properties is indicative of the heat having left the market as properties aren't getting snapped up as fast as they were. Things have calmed back down to normal levels and there is now more choice once again for buyers. There are plenty of properties coming onto the market each month. In August there were 369, in September 376, in October 299 and in November 219. This explains the high number of available properties as there are lots to choose from. In November 265 sales were agreed. In October there were 271, in September there were 355 and in August there were 364. As more properties come to the market, more sales are happening. Although the media has been talking about the market cooling, the local facts are that there is still a lot of activity. In August we saw 51 price reductions across the Lanarkshire property market as a whole. There were 44 price reductions in September, 54 in October and 81 in November. This jump could imply that some sellers' or agents' expectations of what the market is prepared to pay are not in line with reality. In November there were 120 slow movers in the Lanarkshire area. This means a property that has been on the market for 12 weeks or more. This could be due to the market returning to more normal levels but expectations still being at the peak levels. In October there were 90, in September there were 81 and in August, there were 71. Slow movers can often be due to the 3 Ps - presentation, promotion, or price. We are proud to be in the top 5 agents in the area with the smallest numbers of slow movers. Choosing the right agent for your property can make a very real difference to achieving your moving plans. In August, each property in the Lanarkshire area had average daily views on Rightmove per property of 221. In September this dropped to 186, in October it was 149 and in November it settled down to 129.2. This is not unusual for this time of year with many families busy as we approach Christmas and the end of term. The high levels of activity in the local Lanarkshire property market are likely to increase or at the very least, remain strong in the first quarter of next year. If you're looking for further information about the Lanarkshire property market, or if you're thinking of selling or buying in the area, please don't hesitate to get in touch. You can call 01698 441327 or email sales@lanarkshireestateagents.co.uk.
Towns in Lanarkshire - Bellshill
Local Towns: Lanarkshire Law Estate Agents specialise in Bellshill and the surrounding areas. Our agents are local, have 10 years in the industry and have extensive knowledge within the property market that can help sell your home for its maximum potential. We appreciate how stressful selling your property can be and our intention is to provide a service second to none. We believe it is important to know local towns and what draws people in as well as factors that make properties more appealing in these locations. This can range from shopping facilities to local schools in Bellshill. Below we have compiled a list of some local areas we cater to and some facts that give a better understanding of the area and the housing market. Bellshill Bellshill is a historical town with the earliest record of Bellshill name being quotes within a detailed map created by Timothy Pont which was dated in 1596. Bellshill was originally on the road which linked Glasgow and Edinburgh. It is ideally situated between Glasgow which is just 10 miles outside Glasgow city centre and only 37 miles from Edinburgh. It is also neighbouring nearby localities such as Motherwell 2 miles to the south and Hamilton 3 miles to the south-west. Bellshill lies at an important point on Scotland's motorway network, situated around 1.5 miles (2 km) south of the M8 motorway between Glasgow and Edinburgh and their respective airports, and about the same distance north of the M74 motorway to and from England. Found within North Lanarkshire it has a population of around 20,000 people on the last census. There is also a genuine community spirit with local clubs and centres nearby which offer activities for both young and old. Bellshill has strong links with the world of football. Sir Matt Busby was born in Bellshill and in 1995 the Sir Matt Busby Sports Complex was opened and is more recently erected a statue dedicated to Billy McNeil a previous Scotland and Celtic captain Bellshill also has some great transport links with the M74 a 5-minute drive away and the M8 a 10 minute drive away from the main street. As well as this, there is also a train station which provides frequent transport between Glasgow and Edinburgh as well as Lanark. When it comes to schools, there are six local primary schools and two secondary schools that are highly regarded. Bellshill is also known for its music, especially since the mid-1980s with the most famous being international star Sheena Easton a Scottish singer, songwriter, and actress. It also born bands such as the Soup Dragons, BMX Bandits and Teenage Fanclub put Bellshill on the map as an indie rock hot-spot in Scotland. The town is served by three large supermarkets such as Tesco, Morrison's and Aldi's. There are a variety of wide ranging shops found within Bellshill with a range of independent and national retailers, many of which are currently found on the main street. In terms of house prices in Bellshill, Zoopla states that the average price for a property in November 2020 stands at £115,031. Meanwhile flats sold in Bellshill for an average of £78,125. Rightmove states that properties in Bellshill had an overall average price of £108,291 over the last year. Bellshill properties offer great value for money with the average price slightly lower than the average for Scotland and North Lanarkshire. Lanarkshire Law Estate Agents have an abundance of local knowledge within Bellshill and the surrounding area. Contact us now to chat about buying or selling your home. https://youtu.be/_2F3Prgr4ZY
Spring cleaning tips for a sparkling home
Spring is in the air and many of us will be considering doing a spot of Spring cleaning to get our homes ready for Summer. A deep clean can help us to remove allergens from our homes that usually get missed during regular cleans. If you are considering putting your property on the market, a good declutter and a deep clean will help you achieve your asking price. So here are our top Spring cleaning tips. From top to bottom Cleaning from the top down will force the dirt and dust down and out of your home and save you from having to re-dust or clean areas you have already cleaned. This applies not just in individual rooms, where you should always clean the dust off the ceiling and the coving first, but also to the entire Spring cleaning process. Shower Curtains These can be popped in your washing machine with a few towels on a gentle cycle, then hung up to dry. Windows Make up your own window cleaning solution with 1 cup of white vinegar, ½ tsp dishwashing liquid and 2 cups of water. Use a spray bottle to spray it onto your windows and wipe with a clean cloth. It is a good idea to clean your windows on a cloudy day so that you don't end up with streaks. Stainless Steel Mix 1 tsp of dishwashing liquid with 1L of hot tap water. Use a cloth dipped in the solution to rub on marks, always in the direction of the metal's grain. Then rinse it off with clean water and dry immediately to avoid streaks. Clean your cutting boards. Cutting boards can be cleaned of both stains and foul odours by rubbing the cut side of a lemon wedge over them. The cleaning power of the lemon can be increased by first sprinkling it with salt or baking soda. Make your oven shine You can help to soften baked-on filth by placing a hot, damp cloth on top of it and leaving it for ten minutes. Use a sprinkling of baking powder and a heavy duty scouring pad to finish the clean. Then, just rinse it off and let it dry. Walls After running a duster over your walls wash them with 1tsp of dishwashing liquid mixed with 1L of water. If you have a stubborn stain, dip a wet cloth into bicarbonate of soda and gently rub the stain. Then wipe the area clean and leave it to dry. Freshen up your carpets To remove odours from your carpet sprinkle some baking soda over it and then work it into the fibres using a soft brush. Leave it for up to 30 minutes then vacuum it up. If you are getting your property ready to put on the market please give us a call on 01698 441327 or send us an email to sales@lanarkshireestateagents.co.uk and we will be happy to pop round and give you our professional advice on how to make your property look its best.
8 Staging Tips for Selling your Property
8 Staging Tips for Selling your Property When we talk about 'staging' your property, we really do mean shining a spotlight on it. But that doesn't mean you have to going to go all glam with gold mirrors and other bits of bling all over the place. Quite the contrary - a room should be in neutral shades and at the same time appear smart and homely. The intention being that any prospective buyer who comes along will want to move in right away. The reason property should always be staged are many. And that means if you've already moved out and taken your furniture with you, then it may be worth the cost of getting in a professional staging company. That's because: A staged room feels inspiring. An empty room looks just that - an empty room. It's cold and inhospitable. And that hardly makes it inviting for any buyer who comes along. Instead, by putting some smart but distinctly neutral coloured furniture in, a bright rug, some flowers, a plant or two and blinds or curtains up, it starts to feel like a home. And buyers find it easier to start imagining their own furniture in there. A staged room appears larger. That's because furniture provides a 'reference point' for the potential buyer. They can tell how big a bedroom is with a double bed in it, for instance. That way they'll also know if their bedside cabinets will fit in etc. Incidentally, an empty room doesn't just seem smaller, it will also show up any cracks and other faults more clearly! So, what are those home staging tips we talk about in the title of this article? Well, here are some right here: Look on the bright side. Get as much daylight into your rooms as possible. That way your home will feel larger and more open. Roll up the blinds, pull back the curtains and put a lampshade into any dark corners to 'open' them out. 'Float' the furniture. No, we don't mean sit your sofa in water. Rather, this is a particular design technique that involves pulling the sofa, chairs and tables etc away from the walls. You can then anchor the space with an area rug to create a cosy area for sitting around chatting. Remove the big pieces. If you've acquired so much furniture over the years that, even in your own eyes, the place seems pretty crowded, then put some of it in storage. It'll only be for a month or two (hopefully) until you sell. Declutter Marie Kondo style. Anything you haven't used for a year or so, chuck it in the bin. Why drag it along to your new place to get covered in dust there too? Make a fresh start! Clearing out the clutter will also make your property more attractive to buyers. Go for kerb appeal. If you're fortunate enough to have a house with a garden, then make sure it's tidy and attractive. You'd be amazed how many sellers turn up, see a messy garden, dirty windows or a front door that needs painting and just keep on walking past. And then there is literal kerb appeal... if you have a parking space outside your property then wait until five minutes before your buyers are expected and park your own car around the corner. That way, if they arrive by car your buyers will get parked easily, putting them in a good mood for viewing. Having to park in a neighbouring street may very well put them off your property. Keep it clean. It should go without saying that your house should be pristine from top to bottom. But, remember too that even though you are used to it, your buyers may not appreciate your dog's odour. So, use pet freshener and remove him or her from the property if you're still living there at the time. It's the little touches... Make sure there's apples etc in the fruit bowl, set out some fresh flowers, new soap and scented candles and always have fluffy freshly-laundered towels in the toilet. It's often the little thing that buyers love and remember. Get in touch Looking for advice or help in selling your home? Then get in touch today, tel 01698 441327 or email sales@LanarkshireEstateAgents.co.uk https://youtu.be/AxKKKgNfMdA
September 2022 Market Report for Lanarkshire
The children are all settled back at school and the changing weather leaves us in no doubt that Autumn is definitely here. September is always a month of new beginnings. With Christmas just around the corner many people start to think about whether their home still works for their family. The rising interest rates may be causing pause for thought but life continues, despite the rising cost of living and people will always need to move home; sometimes because of, and sometimes in spite of, the financial climate. Let's have a brief look at what's been happening over the last month in the local property market around Lanarkshire. There are currently 707 properties available on the market in the area. The month prior there were 681, with 573 in July, and 557 in June. The increasing numbers of available properties is perhaps indicative of the heat having left the market as properties aren't getting snapped up as fast as they were. Things are started to calm back down to normal levels and there is now more choice once again for buyers. There are also more properties coming onto the market each month. In June there were 345, July 348, in August 369 and in September 376. This could explain the higher number of available properties as there were more to choose from. In September 355 sales were agreed, in August there were 364, in July 289 sales were agreed and in June 317 sales were agreed. As more properties come to the market, more sales are happening. Although the media has been talking about the market cooling, the local facts are that there is still a lot of activity. There were 26 price reductions in June and in July we saw 30 price reductions across the Lanarkshire property market as a whole. In August, this number jumped up to 51. There were 44 price reductions in September. This could imply that some sellers' or agents' expectations of what the market is prepared to pay are not in line with the reality. In September there were 81 slow movers in the Lanarkshire area. This means a property that has been on the market for 12 weeks or more. This could be due to the market returning to more normal levels but expectations still being at the peak levels. In August, there were 71 slow movers. In July, there were 49 slow movers on the market and in June, there were 53. Slow movers can often be due to the 3 Ps - presentation, promotion, or price. We are proud to be in the top 5 agents in the area with the smallest numbers of slow movers. Choosing the right agent for your property can make a very real difference to achieving your moving plans. In June, each property in the Lanarkshire area had average daily views on Rightmove per property of 223. In July this figure was 189. In August, this number jumped back up to 221 and in September it has settled back to 186 . This shows the high levels of activity in the local Lanarkshire property market, which are likely to increase or at the very least, remain strong in the final quarter of the year. If you're looking for further information about the Lanarkshire property market, or if you're thinking of selling or buying in the area, please don't hesitate to get in touch. You can call 01698 441327 or email sales@lanarkshireestateagents.co.uk.
Ensure The Best First Impression Of Your Home when selling
Everyone knows that common phrase "first impressions count". Lanarkshire Law Estate Agents are here to provide the best tools to ensure your property gives the absolute best first impression to potential buyers. We want to ensure you get the best first impression of your home when selling. Selling your home should be an exciting process and it doesn't have to be stressful. Do your research while choosing your Estate Agent, after all you want your house to reach its full potential. A good first impression sets you off in the right direction. Curb Appeal It may seem obvious but simple things like tidying the garden and decluttering can make the difference between someone viewing your home or skipping past! A property will photograph much better if tidy, clean and clutter free which leads us to.......... Photographs They say a picture speaks a thousand words. Showcase your home in its best light by using professional photography. The first time a buyer sees your home is through pictures. Professional photographers will also provide a full video tour. Statistics show that a property achieves 20% more views if they are accompanied by a video tour. Floorplan Did you know that a property on the market with a floorplan will attract 40% more viewers? What better first impression! Social Media Facebook alone has 2.91 billion users!!! Get the beautiful professional pictures of your home out there! The beauty of social media....... your home can be shared far and wide to ensure a massive audience! Property Portals Where does a house hunter go to find their dream home? Most turn to property portals first and foremost. Make sure your property is showcased in all major online property platforms, again showing off the quality photography and video tour. Curb Appeal If you want to make sure your property creates the best first impression, visit our blog on Curb appeal https://lanarkshireestateagents.co.uk/top-tips-for-curb-appeal https://www.facebook.com/LanarkshireLawEstateAgents
How to sell your Home
Selling your home can be just as daunting as buying your first home, this step-by-step guide is here to give you an insight on how to sell your home and some top tips when your property goes on the market. Understand the costs of selling your home If you know the costs of selling your home this will help ensure you aren't met with any unexpected costs through out the selling process, below you will find some of the main costs you will have when selling your home: Estate agent fees Mortgage exit fees Home reports Conveyancing fees Removal costs Preparing to sell your home For the best results when selling your home its important to show your homes full potential, if a buyer can envision themselves living in your property they are more likely to buy your home and can result in it selling faster. Here are some tips on how to prepare your home: Freshen up with some paint Declutter Clean up the garden Getting ready to sell your home Once you have decided you want to sell your home you can instruct an estate agent to value your property, this will ensure you know what you can expect to achieve. Preparing for viewings to sell your home It is important to show potential buyers why they should choose your home, you want to go all out to help buyers envision their life in your home, there a few things you can do to make your home more appealing to potential buyers when viewing: Tidy the outside of your home for drive-by visits Keep a clear and clean bathroom Declutter the living areas Have a clean and clutter free kitchen Spruce up the garden Considering and accepting an offer Considering the offer It is important to remember that you are under no obligation to accept or reject an offer straight away, it is more than okay to take a few days to consider offers. You can find out the potential buyers position before making any decisions as there are a number of factors to consider when deciding if you want to accept an offer, here are some key questions to consider asking: When are your buyers looking to move? What is the potential buyers financial position? Are they in a chain? Accepting the offer Once you have accepted an offer the house will be under offer subject to Conclusion of Missives, until the missive is in place an accepted offer is not legally binding and a buyer can back out of the sale, this is also the same for you as the seller. Providing there is no issues the missive will be concluded and there is now a legally binding contract. You can then look forward to your own big move in day.
Tips For First Time Home Buyers
Getting on the property ladder for the first time can be daunting for first-time homebuyers. With a process that might seem complicated from a distance, you may have dozens of questions when looking for your first home in Lanarkshire. Don't worry! In this article, we've broken down each step when purchasing a home as a first-time buyer and outlined our best tips to help make the process as simple as possible. Costs of buying a house as a first time home buyer Upfront costs as a first time home buyer First time home buyers will have some costs to pay upfront, including: Deposit as a first-time buyer A deposit is required to put towards the total cost of purchasing a new home and is required when applying for a mortgage. The deposit amount can vary and will have an impact on the mortgage rates available to you, with the minimum deposit typically being 5% of the total value of the property. Land and Buildings Transaction Tax (LBTT) aka Stamp Duty 80% of first-time homebuyers in Scotland will pay no stamp duty since there is a tax-free limit on properties bought by first-time buyers of £175,000. Broker fees Depending on which mortgage you opt for you may have fees to pay if you use a broker. A broker is an intermediary between you and the mortgage lender, such as a bank, who can offer advice on the different mortgages available and then broker an agreement between you and the mortgage lender. Legal fees Legal fees will be applicable as the process moves forward and you approach a solicitor. Transfer fee You may be required to pay a fee to cover your lender's cost of transferring money for your mortgage to a solicitor. Mortgage costs Depending on your deposit amount and a host of other factors including your annual income, there are many mortgages out there for first-time home buyers. Insurance Mortgage lenders may need insurance on the property you are purchasing, with some lenders not being able to agree on lending if property insurance is not in place. Getting a mortgage as a first time home buyer Understanding mortgages can be the most difficult part of buying a home for the first time, but rest assured, it is not too complex when you have the correct information at your disposal. When you have a deposit saved now you can begin searching for the ideal mortgage lender with favorable terms that best suit your requirements such as budget and duration. You must establish all of the information required to make the best decision for yourself with the best possible mortgage agreement according to your needs. To ensure you get the best deal possible you should discuss your mortgage with multiple lenders. Searching for your first home Once you have a mortgage agreement in principle you can begin searching for your first home! Your mortgage agreement will help narrow your search to find the most suitable home according to your circumstances. Here are a few properties that think would be perfect for first time home buyers: Laburnum Road, Viewpark Offers Over £95,000 Wilkie Drive, Holytown Offers Over £169,000 Viewing to see your potential first home Be prepared Have a look at the property whether it be online photos or drive-by. Think of anything important to you or any potential questions you may have beforehand. It can be easy for questions to slip your mind while viewing the property. Request the home report A home report can be requested free of charge from the seller, this gives you in-depth knowledge of the property such as the condition, energy report, property questionnaire, council tax band, and how much the property is valued. Bring a friend Whether it be a friend, partner, or estate agent you choose to bring with you, having someone by your side during the viewing process can make the process easier for you as a first-time homebuyer. View both the inside and outside of the property Buying a house can be one of the biggest purchases of your life, especially for a first-time homebuyer so it's important to make sure you have a thorough look at the property, both inside and out. Making an offer as a first time home buyer Note your interest If you decide the property is for you after seeing the home report and viewing, you can ask your solicitor to note interest. Once this has been done you will then be notified if a closing date has been arranged to make a final offer Offer accepted Your solicitor and the seller's solicitor will then begin the conveyancing process until we have a concluded missive and you can look forward to getting your keys. Your big move into your first home! Pick your moving date Picking your move-in date is dependant on the progress of your purchase and when that may be complete, as soon as this is complete you have free range on when you wish to move into your first home. Have any removal companies booked in for your desired date, pack all your essentials, inform everyone of your new address and enjoy your very first home.
A-Z Estate Agent Jargon Buster
Selling and buying a home can feel confusing enough without estate agents throwing around terms which you may never have heard of. In this post we have compiled an Estate agent jargon buster with a list of words you may hear during the buying or selling process. Acceptance Acceptance is agreeing an offer. Agreement in principle This is provided by a mortgage lender and confirms that they are prepared to lend the potential buyer the funds to complete a purchase, subject to the approval of the property. Appraisal An appraisal is an unbiased estimate of a property's fair market value by a third-party professional. Asking price The asking price is the figure the property is marketed at. Buyer A person looking to buy a property. Chain A chain is a sequence of linked house purchases, each of which is dependent on the preceding and succeeding purchase. Completion When the sale transaction Is settled, and keys can be handed over. Closing Date The closing date is a day and time set by the seller on which all parties interested in buying the property should send their offers. It works like a blind auction; the buyers submit their bids without any knowledge of the details of the competing offers. Conveyancing The legal process of transferring property ownership from one party to another Deeds Also known as Title Deeds. The legal documents that prove ownership of a property or land. Deposit The money you'll need to pay upfront to secure a mortgage to buy a home - deposits are usually 10% of a home's value, but this may vary. EPC Short for Energy Performance Certificate. It displays the energy efficiency of a property and its environmental impact with a scale of A-G (A being the most efficient). An EPC is essential to have before marketing a property and is one of three parts of a home report in Scotland. Fixed Price A fixed price is a price set by the seller that is not subject to negotiation. Fixed-rate mortgage A mortgage deal that comes with a predetermined interest rate for a defined period, usually two, three, or five years. Guarantor A guarantor is a financial term describing an individual who promises to pay a borrower's debt in the event that the borrower defaults on their loan. Home Report Home reports make the process of buying a new home more transparent by removing much of the uncertainty on what price to bid and accept, a home report includes a property questionnaire, single survey and EPC and is prepared by a charted surveyor. Instruction An instruction is when a seller signs a contract to list with an estate agent. Negative equity Where the sale value of a property is less than the amount outstanding on a mortgage. Missives Missives are a series of letters between solicitors on behalf of their clients which constitute the contract for the sale of property from the seller to the buyer. Property Questionnaire A property questionnaire is part of the home report that is either completed by the seller or the agent marketing the property. It contains useful information such as how long the person has lived there, the council tax band of the property, who services the property, and any work that has been done. Seller The person selling the property. Single Survey A single survey is the first document enclosed in a home report. The purpose of a single survey is to provide potential buyers with clear information about the condition and value of your home before you market it for sale. The survey will also give buyers detailed information about the condition and value of your property before they decide to make an offer. STCM A term used in Scotland that is short for a property sold is 'Subject to Conclusion of Missives'. This means an offer has been accepted but no formal contract has been agreed yet Under Offer When a property is listed or referred to as 'under offer' it means an offer has been accepted on the property and the conveyancing and conclusion of missives are set to take place Valuation A property valuation is an assessment of your property's value, based on the location, condition and multiple other factors. Vendor Another term used to describe the person selling the property. https://www.facebook.com/LanarkshieLaw https://www.facebook.com/LanarkshireLaw
Looking for a Home Near Me and Estate Agents Near Me
As per ongoing figures, house costs in Scotland are up by almost 11% in the year to March 2021. In Scotland, house costs rose by 10.6% throughout the year to March 2021, contrasted and an ascent of 10.2 % in England, 11% in Wales and 6% in Northern Ireland. Following the lockdown in March 2020, and the near closing of the property market until June that year, remotely coordinating, self-educating and being bound to our homes achieved an exceptional re-appraisal of what people are looking for. Individuals were becoming confined by utilizing such searchable terms as " estate agents near me ". We saw increased searches in individuals looking for properties with gardens or outside spaces and balconies, people were putting less importance on transport links. to be close to moving joins and rather proximity to green open space and common regions took need. Buyers were searching for an additional room for a work area or even a changed over shed our restroom to oblige our 'new standard'. Add to this the subdued revenue from the people who had adequately needed to move, a stamp commitment event, and the appearance of 95% home advances and solicitation has far counterbalanced stockpile which unavoidably pushes up costs near me. These variables have helped fuel the most exorbitant cost swelling for a very long time near me - up from 9.2% in the year to April. In spite of the fact that there has been a significant degree of development in Northern England (albeit substantially less development in London) no other area in the UK has seen the levels we are encountering in Scotland. The Office for National Statistics (ONS) said the pandemic may have made purchasers re-examine their home needs and priorities at what's "near me". With the ordinary expense of segregates properties in the UK rising faster, people looking for more space and less need to be close to the working environment. Various people who have continued working all through the pandemic have found that they have spent essentially less on pondered purchases - events have been pausing, people have been more unwilling to refresh their vehicles and with an excess from engineers, home updates have generally been put off. The speedy market and nonattendance of supply is pushing up costs with contention at its most critical level and people leaving behind properties regardless, when offering extraordinary prices over the home report regard. If you are looking for a solicitor near me use Lanarkshire Law Practice. If you are looking for a solicitor near me then use ourselves Lanarkshire Law Estate Agents. If you require a mortgage adviser then use Lanarkshire Law Mortgage Solutions
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