Dealing with the "offers over" system

In England, when yout put an offer in on a house, the agent will tell you that there's been other offers for higher and whether you'd like to raise your offer.  Do they not allow this in Scotland?  I mean, if you're not sure how keen people are to buy a place but you really love it you should have the chance to raise your offer.  Does this not happen?

the lawyer will tell you how many other notes of interest, surveys done, and offers have been received, but that's all you get to find out.   As IanC says, on the closing date, they open all the offers (sealed bids) and then the seller decides which one to accept.   You get a phone call in the early afternoon usually, to say whether or not you have been successful with your offer.  If your offer is accepted, that's it settled ... no one else can come along later and offer more.

Yep what PNG said.. LOL. I just had a closing date on a property i wanted yesterday at noon.. While i was working a shift a message came into my mobile.. Course i didn't get it till i finished the shift.. My offer was accepted but the sellers wanted to up the closing date by a week.. Soooo assuming the survey goes well the property is mine mine mine . LOL. So now just keeping fingers crossed till the survey is done.. Hopefully tommorrow.. The offer was subject to survey.. so once the survey is done and dusted the subject to survey clause is taken out of the offer and the offer is officially final.
Can you tell excited.. well that and my mum arrives for a weeks holiday in the morning too. Sooo i'm having a run of good luck. Long may it continue lol.. ( or at least till the survey is done and dusted) hehehe..
Then on the mortgage advisor to get the mortgage paperwork finalized..
I hate the closing date thing cos you never know what the others offered.. and the seller doesn't even have to go with the highest offer.. they can go with whatever offer they want.. So you never know if you've offered way too much or way too little.. . I've lost out on several properties this way.. grrrrrrrrrr..
Kay

Congratulations Kaylesh,

Here's hoping the survey is good. 

Fingers crossed Kay!

Thanks for the congrats.. cos it sure is a stressfull way to buy property..
Good luck to all the others that are looking up here in Scotland and dealing with the Offers Over system.. IT STINKS!! ROFL
One step closer to getting the property.. ..
Kay

Gazumping is illegal in Scotland, when you accept an offer it is legally binding. So you can't turn round and accept a higher offer.
The seller will usually set a date for bids to be in by, and then if more than one is received they can decide which one to accept.

Just got back from a seminar at the Law Society this afternoon.  One of the topics covered was conveyencing, particularly w/regard to Land Certificates.

Unfortunately, these rules are apparently not absolute, only the conclusion letter obligates a seller to sell and a buyer to buy.  Sadly, this has allowed practices such as gazumping and gazundering to occur, although so far these incidences are isolated.

Gazumping is illegal in Scotland, when you accept an offer it is legally binding. So you can't turn round and accept a higher offer.
The seller will usually set a date for bids to be in by, and then if more than one is received they can decide which one to accept.

Is the selling process in Scotland always a sealed bid?  Could the sellers look at all the bids and without accepting anyone in particular have their agent phone up the other parties and say, "We've got an offer that is X higher than yours, do you wish to put in another bid?"

Surely, if no official offer (or closing as Expat says) has been accepted then no one has been hard done.  And while gazumping is no fun, surely having to pay surveys on 4 or 5 properties just because you didn't know your bid was high enough is pretty bad as well?

Well the property i have the offer on currently is accepted with a Subject to Survey clause..
So assuming all is well with the survey,or the sellers are willing to rememdy any problems found on the survey,the subject to survey clause is removed and the sale of property procedes..
Easiest to have your offer subject to survey.. then at least you don't have to pay out to get the property surveyed prior to putting the offer in. Remember until the paperwork is signed either party can back out. Not always the nicest thing to do or to have happen but it can be done.

Easiest to have your offer subject to survey.. then at least you don't have to pay out to get the property surveyed prior to putting the offer in.

at the time we bought our last house, our lawyer told us that offers without surveys are 'not taken seriously'.  That's why we had so many damn surveys done!