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Tell estate agent about size of deposit?
Comments
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housebuyer_abc wrote: »They can't refuse an offer no matter what, the AIP has nothing to do with it, they have to pass on any offer.
The vendor may of course told them that they don't want offers without the agent seeing an AIP but that is different to 'we won't take an offer without seeing your AIP'
If I was a seller and the prospective purchaser wasn't in a position to suceed. I might accept the offer but refuse to take the property off the market until the buyer had confirmed this.0 -
PasturesNew wrote: »One day in the future I will be a cash buyer... there's no way I'll give an EA a clue how much money I've got. I will just make it clear to them that I am a serious buyer without showing my hand.
I completely disagree with this. I accepted the offer from my buyer - slightly less than I wanted - purely because he was a cash buyer and therefore I knew he could complete quickly. If I was a cash buyer I'd definitely be mentioning it when making an offer. You need to sell your offer to the vendor, especially when going for money off.
With regard to deposit, I wouldn't necessarily give exact size but I'd say if I was looking at an LTV of less than say 70% because people will know you're unlikely to have trouble getting your mortgage.0 -
sarah_elton wrote: »I completely disagree with this. I accepted the offer from my buyer - slightly less than I wanted - purely because he was a cash buyer and therefore I knew he could complete quickly. If I was a cash buyer I'd definitely be mentioning it when making an offer. You need to sell your offer to the vendor, especially when going for money off.
With regard to deposit, I wouldn't necessarily give exact size but I'd say if I was looking at an LTV of less than say 70% because people will know you're unlikely to have trouble getting your mortgage.
Though the problem normally arises after the valuation is done. An offer is not based on valuation but what someone is willing to pay. Whether someone can afford the mortgage is not always a relevant point. As the sellers may not be willing to reduce their price further.0
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