We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
EA wants to qualify me before passing on any offer
Comments
-
i forgot to mention yesterday that the EA said that the vendor wants to see our finances. so she had asked us to fax her the AIP which she would show to the vendor.
we obv said no and that we dont want the vendor to see the AIP. we spoke to her again today and she said that she had her wires crossed and had given us the wrong info (!) and that if we fax her the AIP she assures us she will not be giving the details to the vendor - only confirming we have the finance in place.
i am now reluctant to send the EA our AIP as she doesnt seem the sharpest tool in the box! would she be breaking any data protection laws if she tells the vendor our max mortgage allowance? would it be better for us to go in in person and show her the AIP so she doesnt have a copy of it?0 -
Do the solicitor route then you don't have to worry!0
-
we havent appointed a solicior yet. we were going to do that once the bid had been approved.
would we need to pay the solicitor to put the bid in for us (apologise in advance if thats a stupid q)!0 -
This is what I love about these Forums, the hypocrisy! Search though the Housing Boards and they are littered with tales of Vendors who have had sales fall though because their 'buyer' hasn't been checked out financially by the EA and 2 months down the line the sale falls through because the 'buyer' doesn't have sufficient deposit/income etc.
In this market where mortgages are difficult to come by and larger deposits are needed I dont blame EA's for being extra cautious about what they are told by buyers!
If you've got nothing to hide then there is no reason to not be qualified. The EA couldn't give a rats a$$ what you earn as long as it's enough to get you a mortgage! They aren't going to risk what potentially could be their only sale that month by bullying you into increasing your offer and risking you walk away.
Funny isn't it how no-one that has replied to this thread is a Vendor
as I'm sure the OP would be getting very different advice! My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
we havent appointed a solicior yet. we were going to do that once the bid had been approved.
would we need to pay the solicitor to put the bid in for us (apologise in advance if thats a stupid q)!
Have you rung round for conveyancing quotes? Do that now. Ask if they'll speak to the EA about you being able to afford - as part of the process. You just show them your proof and let them do it.
Don't know about them putting the bid in for you - that sounds very formal.0 -
I got in a situation where a private buyer was in the chain.Despite my serious reservations (which my OH couldn't see because he was so caught up inthe "we've found a buyer" charade),he failed to get the person checked out,and they pulled out of the completion,by text on the morning we all were signing.
This person was the type of person who just went around promising to buy several properties until she got each person in the best financial position for her,then dropped them.0 -
poppysarah wrote: »Have you rung round for conveyancing quotes? Do that now. Ask if they'll speak to the EA about you being able to afford - as part of the process. You just show them your proof and let them do it.
Don't know about them putting the bid in for you - that sounds very formal.
Why would the Solicitor advise on what the buyer can afford
You don't ask the Surveyor to advise on the conveyancing process......crazy advise!My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
well we are chain free and have the finances available.
i have no issues with the vendor wanting confirmation of finances. i think its a great idea.i just have issues with the EA who is giving us conflicting info. i.e. firstly telling us that she will be sending our AIP to the vendor and then changing her tune this morning to say that its for their ref only.
from a DP stance - will the EA be breaking DP laws by showing the vendor our AIP?0 -
well we are chain free and have the finances available.
i have no issues with the vendor wanting confirmation of finances. i think its a great idea.i just have issues with the EA who is giving us conflicting info. i.e. firstly telling us that she will be sending our AIP to the vendor and then changing her tune this morning to say that its for their ref only.
from a DP stance - will the EA be breaking DP laws by showing the vendor our AIP?
No, the EA is the Vendor's agent and acting on their behalf, however, it would be highly unusual for the EA to show the Vendor the AIP, in every case that I've dealt with over the years I have never shown it to any Vendor.
I would imagine that the girl you spoke to was inexperienced and confused about what she meant.My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
It doesn't matter desperately if it is against DP once they know you can afford more they may well not accept your offer until you increase it.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards