Frustration - House selling.... Rant

ado

From a purely self serving perspective most EA's will want to ask questions about mortgage/solicitors so that they can be in a position where they can offer the services of their own tied advisers, meaning they can make more money. Knowing that there is a mortgage/financial adviser/solicitor in place should also benefit the vendor for the reasons pointed out above.

iB1

Add me to the list of those who is viewing properties at the moment, but I've just told estate agents verbally that I'm a FTB with a mortgage in principle in place. You could conceivably get quite far down the house buying route before being asked to prove that you do actually have the money!

Reading some posts on the mortgage section of this forum, I'm sure that there are quite a few people "who fall in love" with their "dream home", make an offer, have it accepted, and then think - "now what is all this mortgage stuff about!"

vet8

I agree with the OP.

The first guy who made an offer on our house did not have his on the market and 7 weeks later, he still had not got it on the market. When we accepted an offer from someone else whose house was sold, he then raised his offer as he was really p***ed off at losing the house. Why not sell yours then mate?

jackieb

In Scotland your offer has to be put in writing by a solicitor to the seller's estate agent.

moomaa

ok your 'buyer' sounds annoying but not all 'unprepared' viewers are not serious. We viewed a house to see if we liked it enough to start the whole process of selling/buying. 3 weeks later we had put ours on market and got a good enough offer, got our mortgage and solicitor in place and now, fingers crossed, it will all potter through. It takes maybe an hour to ring round solicitors to get rates and ring mates who have recently moved for recommendations for a solicitor and maybe an hour to ring a mortgage provider and get an indication of how much you can have and start the process of applying.

sonastin

I think there is a difference between viewing to decide if its worth going ahead with the whole buying/selling palaver and making an offer to buy something that you aren't in a position to buy.

You wouldn't go into a shop and take a pile of stuff to the check-out and then tell the shop assistant "right now I've just got to start applying for jobs so I can earn some money to pay for this lot, but keep it behind the counter because I'll be back to pay for it once my first pay check comes in"!

bandofbrothers

Hi,

I am in no way suggesting all the people who are looking to buy/sell are ill prepared , as I stated in my original post !

Its just my experiance thus far.

Little update however......

Buyer has dispensed with their financial advisor's services.
Now has employed a bank for their mortgage.
Survey now going ahead next week.

Ea have to send me yet another letter re setting the asking price back to what was agreed to remove the vendors gifted deposit section, which I was not keen on in the first place, but was happy to do what I can to keep the wheels moving in the right direction !

So my buyer is now spending money to move to the next stages of buying which is a little more posative.

jonewer

With regards to providing proof of finances to an estate agent, I would rather give my financial details to the prince of nigeria than an estate agent. More trustworthy for one thing.

bandofbrothers

I agree about not submitting financial information to an Ea.

However at a very early stage in the process this information should have to be submitted between solicitors/banks.

Not weeks and weeks after offering on the house.

useless

<sebb> wrote: »

I thought that estate agents were meant to check these things before arranging a viewing. I know when I was looking, I had to give all sorts of details about my mortgage application and the deposit I had before they would let me view a property. Perhaps you should have a word with your EA?

Me too! There's a massive amount of checking and as soon as they hear my voice on the phone saying I'm a first time buyer, they ask all those questions...I don't remember it being like this when I had a nose round a few houses in 2007, but maybe my mind is playing tricks.

I can't believe anyone would bother wasting peoples time if they don't know what their financial situation is...

equally I'm finding that sellers would still rather go with a slightly high offer and pretty long drawn out uncertain sale....which is their prerogative of course....