29 Jul 2025
By Jennifer Lesley, Senior Associate, Residential Conveyancing, Gilson Gray
As the property market reaches its summer peak, more buyers and sellers set sail into unfamiliar territory – many for the first time and others returning to the journey after years ashore. At Gilson Gray, we’re here to help you navigate these legal waters smoothly and confidently. That means simplifying the legal jargon so you can stay on course every step of the way.
We spoke to Jennifer Leslie, Senior Associate and Conveyancer in our Aberdeen office, to help chart the course through some of the key terms you’ll encounter during your property transaction.
Offer: The First Drop of Anchor
An offer is the sum of money someone is willing to put forward to purchase a property. This is submitted formally through a solicitor to the selling agent for the home that is for sale. If you’re the one selling, your agent will notify you via phone call that an offer has come aboard – you can then choose to accept or decline. Once your offer is accepted or have an offer accepted, a formal written offer will be submitted. This is the first leg of the contract or the ‘missives’ as the contract is also known.
Qualified Acceptance: Setting Sail
Next in the process is for the selling solicitor to issue a Qualified Acceptance which is the next stage of the missives. If Gilson Gray is acting for you in your property sale, we will obtain detailed instructions from you on the Offer so that we can issue the Qualified Acceptance on your behalf. In the Qualified Acceptance, the date of entry will be confirmed as well as the items that are included in the sale, such as lighting and integrated appliances. The ‘title deeds’ are normally exhibited at this stage along with relevant searches that need to be obtained for all property transactions to ensure no hidden legal icebergs lie ahead.
If we are acting for you in your purchase when we receive the Qualified Acceptance we will send a copy to you and then arrange to discuss this with you.
Missive Letters: Navigating the Currents
A missive letter would next be issued to either make any amendments to the Qualified Acceptance or it may simply conclude the missives. This is the point at which the contract becomes legally binding! The missives will be negotiated back and forth until both the seller and purchaser are happy with the terms of the missives and are happy.
We will only sail forward with the missives once you confirm that you are absolutely happy for us to do so. Normally for a purchase, we will only progress the missives once we have received your mortgage offer.
Disposition: The Final Passage of Ownership
For a sale, there is also the Disposition, which is the deed that transfers ownership from the Seller to the Purchaser and is provided to the Purchasers’ solicitor on the date of entry, the day when the new captain steps aboard, in exchange for the price being paid. The Disposition is prepared by the purchasers’ solicitor and then approved by the seller’s solicitor. We need to get the Disposition signed by the Sellers before the date of entry and then returned to us.
Standard Security: Securing the Hull
For a purchase where you require a mortgage, you will also need to sign a Standard Security before the date of entry. A Standard Security is the deed that is prepared for the lender (the bank that is issuing your mortgage) and after the transaction is completed will be registered against the property with Registers of Scotland to secure the mortgage against the property, keeping the ship steady.
Land and Buildings Transaction Tax (LBTT): Paying the Port Fee
Before mooring into your new home, you will need to complete a Land and Buildings Transaction Tax Return and, depending on the purchase price you, will need to pay LBTT. We will prepare the return for you to approve and if you have to pay LBTT, this will be included in your cash statement and we shall submit the payment on your behalf.
Plotting a Course with Confidence
The summer market is a buoyant time to make your move – and Gilson Gray is here to help you navigate every step, from your first offer to the final handover of keys. If you’re ready to embark on your property journey, feel free to visit your local office or reach out to any our friendly crew members.
