Estate Agent Tricks

Estate_Agent

Try sending a letter anyway on the chance that they have mail redirection set up.

googler

timmyt wrote: »

as a conveyancing solicitor .....

a mational estate agent no doubt.

.......

People dismiss you because you repeat this same line every time, whether it's relevant to the thread or not, because you don't really come across as a property professional, and (maybe) because your posts are littered with schoolboy grammatical errors...... "mational", indeed.

new_home_owner_3

i had this happen to me twice, we need you to sit down withour fa, and they said it will go through a lot quicker and smoother.

It happened when we bought 10 years ago, the mortgage they offered us was a really high interest fixed and then they added the insurance premiums and the prices for them where ridiculous.

if we woulkd have gone for what they was trying to sell us it would have cost us over 250 pound extra a month.

the last time it happened i said i would speek to their fa over the phone and i told him the deal i had got for my mortgage and he tried to give me some cashback on a deal 2 years shorter with higher rate.

I love it when they come out with, we have got exclusive rates that are only for us, yeah you have and they are rip off rates.

Cannon_Fodder

Are they NAEA members?

6. Submission of Offers

Discrimination
6c By law you must not discriminate, or threaten to discriminate, against a prospective buyer of the seller’s property because that person declines to accept that you will (directly or indirectly) provide services to them.

Continues http://www.naea.co.uk/uploads/COP/OEACodeSales Part 2.pdf

DVardysShadow

Gunderful wrote: »

We have just had an offer accepted on a house but the estate agent has insisted that in order for the vendor to have security she wants us to take the mortgage and solicitor out with the estate agent.

My first reaction is utter bullsh*t and in summary I told them where to go. I am wondering if the vendor even said this or whether the estate agent was putting words into hear mouth.

Is this common dodgy practice by estate agents? I am also worried now in case they pull any other fast ones trying to trip me up.

Annisele wrote: »

It's uncommon for estate agents to actually put in writing that you "must" use their tame financial adviser/solicitor - but it's pretty common for EAs to verbally imply that it would be a very good idea.

Find yourself a decent (unconnected) solicitor, and let him do his job - he'll know the tricks, and his job will be to work for you.

I would reiterate the offer in writing, and ask them to confirm in writing their verbal demand over mortgage and solicitor in a non-confrontational way.

That way, you force them either to back down or give you a paper trail.

I wonder too whether the vendors have been given 0.25% off or something if the buyer uses their services?

If it comes to the crunch and you find yourself being forced, don't hesitate to walk away write to the vendor at the address and state that you have walked away because of coercion. It really needs to hit the vendor that whatever part they have in their Agent's insistence, it is a very bad idea.

Gunderful

I've basically said that I am going to use my own mortgage provider and solicitor and if the vendor is not happy with that then its deal over. I have written confirmation that offer has been accepted.

Does the EA have to provide the HIP or is that something to get via the solicitor?

This is a national EA btw but I won't give out the name as it will probably alert them to my case!

Having thought about it I won't pursue it with the vendor, we appear to be getting a great deal as she significantly reduced the price (by £20k ~ 10%) this week alone and I don't want the deal to fall through.

MissMotivation

Gunderful wrote: »

I've basically said that I am going to use my own mortgage provider and solicitor and if the vendor is not happy with that then its deal over. I have written confirmation that offer has been accepted.

Does the EA have to provide the HIP or is that something to get via the solicitor?

This is a national EA btw but I won't give out the name as it will probably alert them to my case!

Having thought about it I won't pursue it with the vendor, we appear to be getting a great deal as she significantly reduced the price (by £20k ~ 10%) this week alone and I don't want the deal to fall through.

If you ask the EA for the HIP they have to provide it to you, however, it doesn't have to be a hard copy.

timmyt

Gunderful wrote: »

I've basically said that I am going to use my own mortgage provider and solicitor and if the vendor is not happy with that then its deal over. I have written confirmation that offer has been accepted.

Does the EA have to provide the HIP or is that something to get via the solicitor?

This is a national EA btw but I won't give out the name as it will probably alert them to my case!

Having thought about it I won't pursue it with the vendor, we appear to be getting a great deal as she significantly reduced the price (by £20k ~ 10%) this week alone and I don't want the deal to fall through.

It usually is.

good luck OP, happy exchange