Play your cards close to your chest?

patch3228

googler wrote: »

You can ask, but they're unlikely to give you the details. They might have hired the EA specifically to negotiate with bargain-hunters like yourself.....

At the open house, who left first? Could the other couple have been waiting to ask questions after you left? Why couldn't you have asked the EA to wait behind and ask Q's after the other couple had gone?

I am planning on visiting the property in the evening (informally viewing it from a far) just to check out noise levels at night and mainly seeing if after school where do the local kids congregate

After that I may proceed to second viewing to get serious costings figured out and I will then leave my contact details with the owners and see if they want to play ball - if not you could be right...


The open house was a ruined experience for me, but the EA actually drove away first in his flashy blue beamer and so we/ couple departed ways pretty much afterwards (EA seemed in a rush *guess it was lunch time* and so awkward to talk with him after)

patch3228

rl290 wrote: »

This seems sensible to me. I would be quite happy to do this once an offer is accepted. If the EA says to me that his client only wants offers from people who can guarantee they have finance in place, I would simply say: "Ok, give them my offer of X, and if they accept it I can give you proof within 24 hours". Once an offer is accepted, I would either give them the mortgage adviser's details or produce the mortgage in principle doc (with any personal data blanked out).

However, I would never do this before an offer is accepted. I would completely understand if a vendor isn't interested in looking at my offer - that is their prerogative. But in this market, I doubt many vendors would mind if they received financial assurance immediately after they made an acceptance conditional on it.

R

I particularly like this suggestion - a kind of "you show me yours I'll show you mine" kinda thing


What seems apparent from this thread, there is some middle ground that would seem acceptable for both sides, it's just a case of choosing what to disclose at an appropriate stage of the buying process.


Bit OTT, but I would love to see a kind of chinese wall put in place where the EA can not act/ disclose sensitive info for personal gain...then my cards would be firmly on the table without fear of damaging future negotiations


Oldone - it's a shame they accused you of time wasting when in reality it's them (EA) who are trying to push you and look at your cards, then this will just naturally make you even more defensive and pushback more (viscious cycle)

Swipe

As a cash buyer I don't see what the big deal is, you could print off a statement with no recent transactions and just a final balance and all they have is your name, sort code and account number. What's the worst they can do, pay money into your account? Or you could get the bank to write you a letter confirming the balance of your account. If you don't want to reveal all your cards, set up a second account and just transfer the amount of your current offer in to it.

lethal0r

id ask jeremy clarkson about that!

oldone_2

Anyone who sells anything will tell you the same story.A car show room will have people popping in to 'just look'. A shop will have people who ask for a demonstration and then go and buy cheaper on the internet. It is something that goes with the territory of selling, so why should selling a house be any different.

As a buyer I do not expect a vendor,or their agents,to make me jump through hoops just for the priviledge of purchasing from them. I am the customer, and I call the shots, and if house sellers can't accept this, they should not be selling.

I suspect the problem is that the majority of houses are sold by people who have no knowledge or concept of retailing.They get emotionally involved, expect the buyer to be inconvenienced rather than themselves, and then wonder why their property doesn't sell.

While they are living in the house it may be home, but once it is on the market, it is a commodity to be sold where the potential buyer does not necessarily need them, but they need the buyer.

lostinrates

Swipe wrote: »

As a cash buyer I don't see what the big deal is, you could print off a statement with no recent transactions and just a final balance and all they have is your name, sort code and account number. What's the worst they can do, pay money into your account? Or you could get the bank to write you a letter confirming the balance of your account. If you don't want to reveal all your cards, set up a second account and just transfer the amount of your current offer in to it.

well, its more complicated if you are looking at more than one property and would formulate your offer both on affordabilty AND perceived worth, and of course, wanting to see different properties with the same agent at different prices!

Swipe

lostinrates wrote: »

well, its more complicated if you are looking at more than one property and would formulate your offer both on affordabilty AND perceived worth, and of course, wanting to see different properties with the same agent at different prices!

I'm talking about once the offer has been accepted (subject to proof of funds). There's no way I'd offer proof until the offer has been conditionally accepted.

Lady_Tara

Hi, I think people should have to demonstrate they have got the funds when they make an offer. We accepted an offer 6 weeks ago, the buyers told our agent they had got a mortgage offer so we thought great. Now we find out they have spent this time trying to get a mortgage and so far have failed. We instructed solicitors as we thought it was going to proceed, so will now have a bill even if they can't find a mortgage.

lostinrates

Swipe wrote: »

I'm talking about once the offer has been accepted (subject to proof of funds). There's no way I'd offer proof until the offer has been conditionally accepted.

Ahh, my apologies. I'm happy to demonstrate fubds, at time of offering...either at the same time or as a condition of the offer being accepted...its just showing details before making an offer, particularly for a first viewing that is no go for me.

ciano125

lostinrates wrote: »

Ahh, my apologies. I'm happy to demonstrate fubds, at time of offering...either at the same time or as a condition of the offer being accepted...its just showing details before making an offer, particularly for a first viewing that is no go for me.

I'd still only be providing proof of funding once an offer had been accepted. Unfortunately it appears that some people dont have the same principles that I have which is making it more difficult for everyone. What's wrong with honesty I ask you?! I'm a man of my word, I'm a professional, and I'm not a liar. Dont waste my time and I wont waste yours. If the above isnt good enough for you, I won't be buying your house, but good luck to you, that'd be my reply. :beer: