A law firm for life

Local property agents have reported an increase in the number of closing dates being set for properties for sale, with one local agent reporting 1 in 4 of their properties sold at a closing date.

A closing date occurs where more than one party wish to offer on a property, and the Estate Agents advise the interested parties the time and date when their best offer must be submitted and herein lies the problem….What is your best offer? What price will the other party offer? How do you make sure your offer is the most appealing?

We believe the increase in property closing dates is due to the number of purchasers outweighing the number of appealing properties currently on the market. In addition, more desirable mortgages are on offer from mainstream lenders, and millennials find themselves in the fortunate position of entering the property ladder often with the assistance of gifted deposits from parents and family members.

Expert Property Lawyers. Here to Help.

Unfortunately, The McKinstry Company do not have a crystal ball and cannot predict the price the other party will offer however, we can ensure that you submit your best offer in the most appealing manner to the seller.

We would suggest that before entering into the world of relentlessly searching property pages that you meet with a mortgage advisor to establish your budget, which should take into account mortgage fees, solicitors fees, conveyancing outlays and Land & Buildings Transaction Tax. If you own (outright or partially) any other property elsewhere in the world, you may be liable for Additional Dwelling Supplement Tax and should speak to a Solicitor to clarify if you would be liable for this. Where a property is purchased with the assistance of mortgage funding, purchasers should note that a mortgage provider will only lend to the home report value and any part of a purchase price above that figure will require to be met by the purchaser.

How Can I Make a Successful Purchase?

When you have established your budget, you can search for your dream home. We would suggest that you contact local estate agents and let them know the style, locale, price and specific requirements you require in a property in addition to requesting that they add you to their mailing list. To ensure you do not miss any online listings, we also suggest that you sign up to property alerts on the various online property portals.

We recommend that you instruct your Solicitor to submit a note of interest to an Estate Agent for any properties which appear to meet your requirements. A note of interest does not commit you to submitting an offer on a property but should allow you the chance to offer if another interested party were to appear – in simple terms it lets the seller know you are interested.

When you are in a position to offer on a property, and particularly at a closing date, your Solicitor will research historic sale prices of properties in the locale which are similar in style, size and condition to the property you are looking to purchase. With this information in mind, every purchaser should review the terms of the Home Report and where any part of a property requires immediate attention consider if this required work add value to the property. We would highlight that the valuation of the property in the Home Report takes into consideration the present condition of the property as quite regularly purchasers deduct the cost of the works from the valuation figure.

We believe that any offer should explain if your offer is subject to the sale of your current property or if you require mortgage funding – in the current property market only a small percentage of purchasers are fortunate that they do not require either and sellers are aware of this.

We are regularly asked if offers at closing date are required to exceed the Home Report value. The answer is that it depends on the level of interest in the property and what the property is worth to an individual.

When a purchaser has considered their budget, the local property market and any work which might require to be carried out at the property they should be confident in the price they wish to offer at the closing date, and we appreciate that there can quite often be a conflict between the heart and the head! Our property department will always present your offer in the most appealing manner to the seller and their estate agent and advise you at the earliest opportunity the outcome of your offer.

Contact The McKinstry Company Property Lawyers Today

Our team of experienced solicitors will guide you through the process of preparing for a closing date. The McKinstry Company property department would be delighted to discuss the purchase of your new home or any other property query you might have. Contact us today on 01292 388048 or fill out our online enquiry form.

Join the McKinstry family
Some of our happy clients
  • All very prompt, efficient, clear, friendly and personable. Not overwhelming with legal jargon. Many thanks for making the process of setting up a will so straightforward.

    Mrs D, Troon
  • We required our Wills to be amended and that was done without any problems whatsoever.

    Mrs F, Ayr
  • Very business-like and helpful

    Mr M, Ayr
  • I was very impressed with the professionalism shown by all members of staff I had any dealing with. All calls and emails were relevant to the sale of my flat. All questions I had were dealt with at the time. For any further legal matters I will certainly be using The McKinstry Company

    Mr H, Ayr
  • Excellent service most happy with attentiveness and customer service.

    Mr F, Condorrat
  • Nat & Libby efficiently dealt with every question I had.

    Mrs K, Ayr
  • Kirsty understood our weird schedule when we were often 8 hours behind UK time, and simplified things for us by liaising via email. She was extremely approachable and dependable. In Kirsty’s absence, Jodie and Nathaniel would step in and communicate with us, and were very helpful too.

    Mrs N, Ayr
  • Great service and always on hand to answer our questions. Prompt and efficient response.

    Mr H, Ferniegair
  • Questions and communication were answered promptly

    Mr W, Sinclairston
  • Speaking from my own personal experience I was perfectly happy with the service I received. Everything was done to my satisfaction.

    Mrs I, Largs
  • Very efficient, timely and very mannerly on the phone

    Mr McN, Mauchline
  • The service was superb.  Kirsty and team were extremely helpful.

    Mr and Mrs R, Ayr
  • First class service from start till finish. Always there to give help and advice.

    Mr R, Ayr
  • Great service and advice from a good professional company.

    Mr R, Kilmarnock
  • Excellent, very friendly and professional. I will be using you for all my property transactions in the future!

    Mrs S, Godstone
  • My case was handled sensitively and smoothly.

    Mr N, Ayr
  • Everyone concerned in the sale of our property was very efficient and kept us up to date with all happenings.

    D Ferguy, Cookstown
  • Great service.  Would recommend you to others.

    Mr S, Kirkmichael
  • Communication was always available when required. Made me feel confident throughout the process.

    Mr L, Ayr
  • Always replied or phoned back when I needed my questions answered.

    Miss McF, Patna
  • A very prompt and friendly service, a pleasure to deal with.

    Mr R, Aberdeen
  • Robert was very supportive.

    M Carruthers, Kilmarnock.
  • Great, Rebecca was very pleasant to deal with and went out of her way to help with our case

    S Everett, Kilbarchan
  • The solicitor / paralegal I was dealing with was very professional and performed to a high standard. I was very impressed.

    B Ferguson, Methil
  • Local firm, word of mouth good reports.

    K Rooney, Glasgow
  • All queries were dealt with in a prompt and professional manner and I was kept informed of progress as events developed. Thank you very much for making a difficult situation much easier to deal with.

    Mrs McG, Ayr
  • Communication via telephone and email was regular, prompt and comprehensive. All queries and questions were answered with no delays or problems. My experience with the McKinstry Company was pleasant and smooth.

    Mr McK, Ayr
  • My family and I received excellent service from everyone with whom we had contact. The service was of the highest standard and, as I have in the past, I will continue to recommend the company to anyone seeking legal assistance.

    Mrs S, Ayr
  • All emails and calls were dealt with promptly. Very impressed. Very very pleased with service.

    Mr and Mrs H, Hull
  • I enjoy the friendly atmosphere. Very professional.

    Mrs A, Ayr
  • Mr Honeyman was very professional and knowledgeable which made us feel reassured. Very happy with the service and if I needed a solicitor again I would get in touch.

    Mr B, Ardrossan
  • Prompt quick efficient communication.

    Mrs K, Cumnock
  • Ease of making appointments and timescale for completion of business all good.

    Mr & Mrs T, Maybole
  • Gave reassurance and comfort at a stressful time. I felt ten times better after our first meeting and support provided ultimately exceeded my desired outcome.

    Mr N, Saltcoats
  • The supportive way that the advice was provided along with the willingness to fit appointments in with our requirements

    Mr R, Ayr
  • The whole process was handled with upmost professionalism throughout.

    Mr McN, Kilwinning

We’re still open for business.

Our team of solicitors and support staff are still here for you. However we have postponed any face to face meetings, restricting communications to telephone, Skype and email. You can contact the Ayr office on 01292 281711 and the Girvan office on 01465 713118