A closing date is a deadline by which all formal written offers on a property must be submitted. All buyers bid simultaneously without seeing competing bids. The seller then chooses which offer to accept. It is Scotland's version of a blind, sealed-bid auction.
How a closing date works: step by step
Property listed; Home Report available
The property is listed, usually at "offers over" a set price. The seller must provide a Home Report to all interested buyers within nine days of a request. The Home Report contains a surveyor's valuation, which becomes the key reference point for your bid.
You note interest
Your solicitor submits a "note of interest" to the selling agent. This does not commit you to buying — it simply registers you as a serious interested party and ensures you are informed when a closing date is set. You can note interest on more than one property at a time. A note of interest does not obligate you to make an offer.
Seller sets a closing date
When the seller's agent judges there is sufficient interest, they notify all parties who have noted interest of the closing date — typically a date 1–2 weeks from announcement, often with a noon submission deadline. The seller can set a closing date at any time, including with only one note of interest registered.
You decide how much to bid
Before the closing date, you decide your offer price. Your solicitor will advise on comparable recent sales, the level of interest in the property, and the Home Report valuation. The offer must include the price, your proposed date of entry, what is included in the sale, and any conditions (such as subject to mortgage). Your solicitor submits it — you cannot submit it yourself, and a verbal offer is not legally binding.
Seller reviews and decides
At the deadline, the selling agent opens all bids simultaneously. The seller reviews them — typically on the same day — and decides which to accept. The seller is not obligated to accept the highest bid or any bid. Price is usually the primary factor, but the seller may also weigh buyer position (chain-free vs chain), proposed date of entry, and conditions attached to the offer.
Result notified; missives begin
Both successful and unsuccessful buyers are typically notified on the day of the closing date. If your offer is accepted, the legal process of concluding missives begins. Once missives are concluded, the contract is legally binding and neither party can withdraw without penalty.
What factors do sellers consider beyond price?
Price is the primary driver at a closing date, but sellers and their agents also consider:
| Factor | Why it matters |
|---|---|
| Bid price | The primary factor. Must typically be above Home Report value in competitive markets. |
| Chain-free status | A buyer with no property to sell — or whose property is already under offer — is lower-risk. Sellers sometimes accept a marginally lower bid from a chain-free buyer. |
| Mortgage agreed in principle | Demonstrates financial readiness. Sellers and their solicitors look for evidence of funding. |
| Proposed date of entry | A date of entry that suits the seller's onward plans can be a differentiator when bids are close. |
| Conditions attached | A clean, unconditional offer (not subject to survey or sale) is preferred. Conditions add risk for the seller. |
Scotland's anti-gazumping protection
One of the strongest features of the Scottish property system is the Law Society of Scotland's anti-gazumping rules. Once a solicitor has verbally confirmed to a buyer that their offer will be accepted, the seller's solicitor cannot then accept a higher offer from another buyer. This protection comes into effect as soon as the offer is verbally accepted — before the formal conclusion of missives. This provides significantly stronger protection than buyers receive in England and Wales, where gazumping is legally permissible until exchange of contracts.
Can I go straight to an offer without noting interest?
Yes — in certain circumstances. Your solicitor may advise going straight to an offer if:
- A closing date has already been set (noting interest at that point only signals more competition to the seller)
- You are a cash buyer in a strong position and want to move quickly
- The property is a fixed-price sale (first come, first served)
- There is no other interest and you want to make a pre-emptive offer before a closing date is set
Your solicitor will advise on the best approach for each property.