Tried to make an offer today but....

doyouwantfrieswiththat

Was the estate agent 'Reids Rains'? they are an odd lot!

Southend1

MissMotivation wrote: »

There are not many EA's that will go on the say so if a broker! If you were selling your property wouldn't you want your agent to make sure that your buyer had the ability to purchase before messing around negotiating and incurring costs?

The EA won't be bothered about the maximum you can afford as long as the AIP covers the amount you have offered.....they will jusr want to get the sale agreed at a price the Vendor is happy with.

But the AIP doesn't cover the amount I have offered because I have a deposit too? I'm a bit confused now tbh.

Yorkie1

MissMotivation wrote: »

There are not many EA's that will go on the say so if a broker! If you were selling your property wouldn't you want your agent to make sure that your buyer had the ability to purchase before messing around negotiating and incurring costs?

The EA won't be bothered about the maximum you can afford as long as the AIP covers the amount you have offered.....they will jusr want to get the sale agreed at a price the Vendor is happy with.

I note your signature and believe that your post may well be true for your practice.

But frankly, I don't believe it is true for many EAs. They want the best possible price for the house and thus their commission. If I could afford £10K more and am not making an offer of full asking price, are you seriously asking me to believe that the EA wouldn't say to the seller "The buyer can afford another £10K, reject this offer and push for more"?

Particularly given the other sharp practices we hear about regularly on this site such as invented other buyers.

DVardysShadow

Southend1 wrote: »

I don't think so, but I don't want to mention the name in case they're reading this forum!

When they call back I think I'll just keep re-stating that I already have a mortgage agreed and I'm not interested in their mortgage services but I'm happy to pop in with the AIP later today.

No, they should NOT see your AIP.

If they need to qualify you, there is absolutely no reason for them to do this at any stage before a deal is agreed. You should tell them that you will go through qualification after a deal is agreed and not before. If they still refuse to put your offer forward, you should put a letter through the vendor's door with your contact details and exactly what has happened, including your willingness to be qualified once a deal is agreed.

Southend1

DVardysShadow wrote: »

No, they should NOT see your AIP.

If they need to qualify you, there is absolutely no reason for them to do this at any stage before a deal is agreed. You should tell them that you will go through qualification after a deal is agreed and not before. If they still refuse to put your offer forward, you should put a letter through the vendor's door with your contact details and exactly what has happened, including your willingness to be qualified once a deal is agreed.

Thanks for the advice. Sounds sensible. What exactly would "going through qualification" involve then? I don't want them running credit checks etc in case it mucks up my mortgage offer.

wastedtalent

The AIP does not take into account much about deposit and what you can 'realistically' afford. I would take the amount offered on an AIP with a pinch of salt, and would expect any respectable EA to do the same.

tyler80

I'd remind the EA they have a duty to pass on any offer. There is no need for them to vet you at this stage. If they didn't do it same day I'd make the offer to the vendor direct.

Southend1

tyler80 wrote: »

I'd remind the EA they have a duty to pass on any offer. There is no need for them to vet you at this stage. If they didn't do it same day I'd make the offer to the vendor direct.

I'm not really comfortable with an EA trying to "vet" me at all tbh. I don't see why I should give personal and financial info to someone who is in a position to abuse it to their advantage. I've already done the legwork in making sure I can get a mortgage so why all the hassle?

If they insist on it then I really don't want to withdraw my offer but I feel I may be left with no alternative if the EA won't pass it on or the vendor won't accept it direct.

MissMotivation

Yorkie1 wrote: »

I note your signature and believe that your post may well be true for your practice.

But frankly, I don't believe it is true for many EAs. They want the best possible price for the house and thus their commission. If I could afford £10K more and am not making an offer of full asking price, are you seriously asking me to believe that the EA wouldn't say to the seller "The buyer can afford another £10K, reject this offer and push for more"?

Particularly given the other sharp practices we hear about regularly on this site such as invented other buyers.

Not just for the company I presently work for but for all of the others I have been employed by and for the ones that my friends are are employed by.

The difference in commission to the actual member of staff on an extra 10k would be pounds.....not worth losing a sale for.

MissMotivation

DVardysShadow wrote: »

No, they should NOT see your AIP.

If they need to qualify you, there is absolutely no reason for them to do this at any stage before a deal is agreed. You should tell them that you will go through qualification after a deal is agreed and not before. If they still refuse to put your offer forward, you should put a letter through the vendor's door with your contact details and exactly what has happened, including your willingness to be qualified once a deal is agreed.

But part of agreeing the deal is the position the buyer is in and whether they can actually afford the property.

I've never agreed a sale where I cannot confirm the status and ability to puchase of the buyer.