house survey

[weecoffeecup]

in scotland do you have to have a survey carried out before putting in an offer for a house if it is a cash purchase also when does the contract become legally binding

[Stu Dent]

The contract is binding once the missives have been signed but ownership is transferred only once registration is complete.

for the time being most areas in Scotland still require the prospective buyer to have a survey completed so the bank can assess whether or not they should lend money secured on the property. Some areas are trialing the single survey scheme (which all areas will eventually adopt) where the seller gets the survey done and prospective buyers/bank use that to assess valuation.

[Ethel]

A cash purchase does not need a survey - but the buyer bears the risk (there is no mortgage)