Scottish house buying process 'beneficial to consumers'

21 September 2007
Despite being similar in many respects to the English property buying process, rules governing purchasing a home in Scotland could be more beneficial to consumers, according to one expert.

Dianne Paterson, property partner with Russel & Aitken, said that in Scotland the timing of when a contract becomes binding can have a number of advantages.

Often becoming legally binding at a "relatively early stage", contracts in Scotland mean that deals are less likely to fall through at a late stage in the process, Ms Paterson said.

A few years ago, conveyancy groups were established to ensure that contracts do not take a long time to be completed and standards have subsequently been developed to reduce the need for legal negotiation between solicitors, Ms Paterson explained.

"The net effect is that the period being taken for conclusion of missives has been considerably reduced to the benefit of all concerned," she said.

In related news, recently reported that English homebuyers could potentially be wasting millions of pounds each year on surveys and solicitors fees, only to be gazumped by another buyer.

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