What happens on the Date of Entry when buying in Scotland?

The date of entry in Scotland is the day you get the keys to your new home. The most exciting day of all! The day when the stress of the buying process ends, but the new challenges of moving in begin.

Before you can collect the keys for your new home on your Date of Entry in Scotland, there are several things that need to fall into place. When you actually get your keys on the day is down to a number of factors. There is no set time when everything happens meaning the day can be rather stressful. You need to simply sit tight and let your solicitor handle all the pieces of the puzzle.

Selling and buying a new home on the same day

The key factors which dictate when you get your keys are as follows:

• The seller vacating the property you are purchasing.
• Your mortgage lender sending the money to your solicitors bank account
• Your purchaser paying their money to your solicitor

Let’s look at these in a little more detail:

The sellers need to have packed up all their belongings and moved out of the house before you can gain entry. It’s trusted that they will do this ahead of the date of entry with removals arriving first thing in the morning to load up.

Your solicitor will have requested your money from your mortgage lender well in advance. It is most likely they will have asked for your money to be paid to them the day before your date of entry. This makes the process slightly easier as the mortgage funds are all ready in your solicitors bank account.

Your purchaser needs to have paid your solicitor for your house. This needs to be done before you can then pay for your new house.

Once the purchaser has paid for your house, your solicitor will check the sellers have vacated the house you are buying. Once they have confirmed the house is empty and keys handed in, then you are good to go.

Your solicitor will pay the money for your new house to the selling solicitor and you will be instructed to collect the keys! Sometimes once everything has happened it can be later in the afternoon.

You will likely be liable to pay property tax for your purchase in Scotland. You will have paid this to your solicitor around a week before the date of entry, or you may be using money from your sale proceeds.

Quick snap-shot of the date of entry

• You empty your house and vacate. Hand keys to estate agent.
• Your purchaser pays the money for your house to your solicitor.
• Keys are provided to your purchaser.
• Your mortgage funds are received and your sale has completed.
• Your solicitor checks your seller has vacated the house.
• Your solicitor sends the money to pay for your new home.
• You collect the house keys for your new house.

Just buying on the date of entry (No Sale)

This can be far simpler as you are not waiting for your sale to go through.

As above, your solicitor will have requested your mortgage funds to come in from your mortgage lender the day before. On your date of entry your solicitor will then simply confirm the sellers have vacated your new house, then pay the sellers solicitor. You will then be able to collect the keys for your new home.

You will often collect the keys either from your solicitor or the selling estate agent.

Just cash buying on the date of entry (No Sale & No Mortgage)

Even better. You do not have to wait for a sale and you do not have to wait for the money from your mortgage lender.

As long as you have provided your solicitor with all the money required to purchaser your new home, then it will be very straight forward on the date of entry.

On your date of entry in Scotland your solicitor will then simply confirm the sellers have vacated your new house, then pay the sellers solicitor. You will then be able to collect the keys for your new home.