Missives and Closing Dates
Missives and Closing Dates Explained
Closing dates, noting interest, qualified acceptances and concluded missives. Scottish home buying has its own language. Here is what it all means and how to get your mortgage ready in time.
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The Basics
Missives Make the Deal Binding
Missives are the formal letters between buyer and seller solicitors. Once they are concluded, both sides are committed.
- ✓Noting interest: your solicitor tells the agent you are interested
- ✓Closing date: all offers must go in by a set time
- ✓Qualified acceptance: the seller accepts with conditions
- ✓Concluded missives: the deal is legally binding
How We Help
From Offer to Keys
How it usually goes.
Note Interest
Your solicitor lets the agent know you want to be told about a closing date.
Closing Date
Offers go in by a set time. Have your mortgage in principle ready.
Offer Accepted
The seller picks an offer. Missives start between solicitors.
Mortgage Application
We submit your full application and the lender arranges the valuation.
Date of Entry
Missives are concluded, funds are sent and you get the keys.
Key Terms
Scottish Buying Jargon
Here is what each one means.
Common Questions
Missives and Closing Date Questions, Answered
The things buyers ask us most.
What are missives in Scotland?
The formal letters between solicitors that set out the terms of the sale. Once concluded, the deal is binding.
What is a closing date?
A set date and time when all offers must be submitted. The seller then chooses one.
Can I pull out after my offer is accepted?
Usually until missives are concluded, though there may be costs. After that, pulling out can be very costly.
How long do missives take?
Often a few weeks, but it depends on the solicitors and any issues found.
Do I need my mortgage approved before missives conclude?
Yes, you should have a mortgage offer before missives are concluded so you are not committed without the money.
What happens at a closing date if I lose?
Nothing is lost except time. Keep your mortgage in principle ready for the next one.
Related guides
- Buying a house in Scotland step by step
- How much to offer on a house in Scotland
- Home Report explained
- Mortgage in principle before viewing
- All mortgage questions answered
Written by Tony Flynn, mortgage broker at Tony Flynn Mortgages, helping homebuyers across Lanarkshire and Scotland. This page is general information, not personal advice. Speak to Tony about your own circumstances.
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