Telling EA our budget?

G_M

What you need to tell them is what value properties you want them to show you.
How much money you actually have is none of their business.

If you actually have more money, but want to keep it for renovation, for a yacht, for an emergency fund, for your mother's care home, whatever, and you tell them this, they will
a) start offering you more expensive properties AND
b) tell the vendors you can afford more once price negotiations start

So focus on what kind of property you want to view and keep your personal finances private.

Gwhiz

G_M wrote: »

What you need to tell them is what value properties you want them to show you.
How much money you actually have is none of their business.

If you actually have more money, but want to keep it for renovation, for a yacht, for an emergency fund, for your mother's care home, whatever, and you tell them this, they will
a) start offering you more expensive properties AND
b) tell the vendors you can afford more once price negotiations start

So focus on what kind of property you want to view and keep your personal finances private.

The OP was not suggesting telling them how much they have. He's concerned at telling them the budget - which does not make sense.

G_M

Gwhiz wrote: »

The OP was not suggesting telling them how much they have. He's concerned at telling them the budget - which does not make sense.

Which is why I said: "What you need to tell them is what value properties you want them to show you."

And I then explained why, since we don't know what the OP's definition of 'budget' is. He might mean 'household budget' ie overview of entire finances for all we know. You and I may think of 'budget' in this context as being the money available for the property, but this was not 100% clear.

SonjaLiK

missile wrote: »

I would suggest you are worrying needlessly.

I would suggest you have way too much money.
signed: too poor to care :rotfl:

satchmeister

Gwhiz wrote: »

I don't get this! You say you would go up to £485 for a perfect property but have told the EA to show you stuff between £300 and £400K. WHY?????

Just tell them what you've told us .... they're not mind readers.

Surely you should look up to £525k with a view to paying £485k. Just because you can spend £485k doesn't mean you have to. Depends what extra you get between say 400 and 485

johnwey

your mad , just look at properties yourself on rightmove and if anything takes your fancy put a bid in . no need to involve an estate agent when you are buying and asking him to send you details , just look on rightmove . simples

DVardysShadow

satchmeister wrote: »

Surely you should look up to £525k with a view to paying £485k. Just because you can spend £485k doesn't mean you have to. Depends what extra you get between say 400 and 485

I think the OP has the peculiar problem of having more money than he wants to spend. Mrs Shadow and I were in a similar position, coming to the realisation at one stage that another £50,000 or £100,000 would not get us any nearer to what we wanted.

I imagine OP can see something acceptable - but not perfect or ideal would be available in the £300,000 to £400,000 range, but does not believe that a perfect property will be available within budget over £450,000.

If OP goes to Agents with his 'perfect house' budget, then I think it is totally improbable that they will give him a look in at houses in his 'acceptable house' budget

LandyAndy

G_M wrote: »

What you need to tell them is what value properties you want them to show you.
How much money you actually have is none of their business.

If you actually have more money, but want to keep it for renovation, for a yacht, for an emergency fund, for your mother's care home, whatever, and you tell them this, they will
a) start offering you more expensive properties AND
b) tell the vendors you can afford more once price negotiations start

So focus on what kind of property you want to view and keep your personal finances private.

This, by a wide margin, is the best advice you've been given.:)

The EA has no need at all to know your finances.