Scotland's property system is fundamentally different from England and Wales. Understand the key differences before you buy.
Scotland has its own distinct legal system for property transactions, which many consider more efficient and transparent than the English system.
## Key Differences
### Offers and Missives - Offers are legally binding once accepted - "Missives concluded" = contracts exchanged - No gazumping or gazundering possible
### Home Reports Sellers must provide a Home Report including: - Single Survey (property condition) - Energy Report (EPC) - Property Questionnaire
### Solicitor's Role Scottish solicitors handle both legal work AND estate agency functions (called "solicitor-property centres").
## The Buying Process
1. **View properties and obtain Home Reports** 2. **Note interest** with selling agent 3. **Closing date set** if competitive 4. **Submit sealed bid** (often "offers over") 5. **Best offer accepted** 6. **Missives concluded** (usually 4-6 weeks) 7. **Settlement** (completion)
## Land and Buildings Transaction Tax
Scotland's equivalent to Stamp Duty: - First-time buyers: 0% up to £175,000 - Standard: 0% up to £145,000, then tiered - Additional properties: 6% supplement
## Market Overview by City
### Edinburgh - Premium prices: Average £325,000 - Strong international demand - Festival impact on short lets
### Glasgow - More affordable: Average £180,000 - Strong regeneration - Excellent yields
### Aberdeen - Oil industry fluctuations impact prices - Currently recovering from downturn - Good value opportunities