Buying and selling property
You can, but we would not recommend that you do so. The property may be your most valuable asset and contracts for the sale and purchase of property can be complex. We strongly recommend adopting the services of a reputable property solicitor to check the validity of the title and ensure that you get what you pay for. Taking legal advice now may save money in the future.
If you are purchasing with the assistance of a lender, it is very unlikely that the lender will proceed unless you have a solicitor acting for you. Also, the solicitor for the other party may refuse to proceed with a non-solicitor and, if you are purchasing, you would require to register the title with Registers of Scotland without the assistance of a professional advisor.
The Law Society only regulates Scottish solicitors, many of whom also do estate agency or letting agency work. Estate agents and letting agents who are not solicitors may be regulated by another professional organisation but details vary and you would have to ask the particular firm.
Transferring funds and ensuring everything is in place for the sale and purchase does take some time. Some solicitors prefer to use cheques when settling a conveyancing transaction. When a buyer's solicitor sends the cheque on the day of settlement, it is usually held as 'undelivered' to ensure that all obligations in the contract are met before the buyer's money can be released. This is to protect the buyer. Once everything is in place, and the cheque is cashed, it will go through the normal clearing procedure, which takes three to five working days. If you have any concerns, speak to your solicitor.