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Estate agents-renting and loads of other questions
oldenufftoknowbetter
Posts: 57 Forumite
Currently looking to rent our house out whilst buying another for our GROWING family:D to live in, have found a house we like and in an area that we know that would suit us.
First question is do estate agents have to report all offers to the vendor as this one is saying it's not worth it as it will be rejected? The house has been up for sale some time and they had an offer before at the same amount (so he says) but that was not recent.
Second we have been advised the best way for us to mortgage the new house is by taking a small buy to let against this one which we own outright, to use as a deposit on the new, is this a good way??
Third when reting is it best to use an agent or go it alone? 2 houses here already rented 1 owner uses agents 1 does it himself, both never been empty both happy with the situation...
First question is do estate agents have to report all offers to the vendor as this one is saying it's not worth it as it will be rejected? The house has been up for sale some time and they had an offer before at the same amount (so he says) but that was not recent.
Second we have been advised the best way for us to mortgage the new house is by taking a small buy to let against this one which we own outright, to use as a deposit on the new, is this a good way??
Third when reting is it best to use an agent or go it alone? 2 houses here already rented 1 owner uses agents 1 does it himself, both never been empty both happy with the situation...
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Comments
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Advise by who? I'd get advice from someone else.
Do you have an income? Base your new mortgage on that. That way if you have rental problems you don't lose your home too.0 -
oldenufftoknowbetter wrote: »First question is do estate agents have to report all offers to the vendor as this one is saying it's not worth it as it will be rejected? The house has been up for sale some time and they had an offer before at the same amount (so he says) but that was not recent.
Yes they do unless they have a signed mandate, from the seller, not to report offers below a specified amount. I feel despite any signed mandate any decent agent will report all offers even those beow the mandated amount.
Only ever had on seller who was absolutely furious to have his time wasted by us reporting a lower offer but such is the variety of life. He needed an anger management course:DA retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
Advise that came from a mortgage broker who we contacted from this site think you can guess which one. Yes we do have incomes that will cover the full amount without stretching beyond ourselves, the reason for the buy to let mortgage is to raise a 25% deposit on the new house.0
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