Notice of Interest
Myself and my Passive Income seeking teenage son have just viewed what might become our third Buy to Let property. The property is in the same road as our first buy to let property, which we know will rent out easily.
In Scotland, if you are interested in a property, but not yet ready to make a formal offer, you can ask your solicitor to submit what is known as “A Notice of Interest”. Basically this means you formally register that you are interested in buying the property to the Seller’s Estate Agent or Solicitor. That way, if someone else puts an offer on the property, you are (usualy) informed and given an opertunity to make a counter offer.
We were very interested in this property. We knew properties in this street had recently sold for £50,000 and prior to that had sold for in excess of £60,000 so at “Offers in the region of £40,000” this buy to let property appeared to be a bargain. Therefore, we have instructed our solicitor to submit a Notice of Interest.
We had previoulsy bought our current home, sold our last home and also bought Buy to Let property Flat 2 using the same solicitor, so after viewing the propeerty we emailed this solcitor saying: “We’ve bought and sold several properties with you in the past. Mainly via Paralegal X, but also with Solicitor Y. I understand that Paralegal X has now left?
Could you please register a note of interest on 33 Oswald St, Falkirk? The sellers are Your Move.