Tried to make an offer today but....

donkey1969

MissMotivation wrote: »

Generally the Buyers who are awkward about giving the minimal amount of information requested are the ones who have something to hide.

I would refute that, the agent we are buying through did exactly the same as the op's agent, refused to pass the offer on until they'd seen the aip, 3 months wage slips, a letter from my husbands employers to say his was a permanent contract as we had moved into the area 4 mths previously, and to speak to their mortgage advisor, this imo was not just checking we were in a position to proceed but was downright invasive. There was no way we were going to let an agent have copies of wage slips which contain things like NI no's etc.

puddy

MissMotivation wrote: »

So, if you were selling your house and a buyer just said that they could get a mortgage, the EA didn't qualify them and then 4 weeks down the line it transpired that they could never get a mortage, you would be happy that you wasted 4 weeks?

who are these fantasist buyers then that make offers on houses that they neither want nor can buy?

MissMotivation

donkey1969 wrote: »

I would refute that, the agent we are buying through did exactly the same as the op's agent, refused to pass the offer on until they'd seen the aip, 3 months wage slips, a letter from my husbands employers to say his was a permanent contract as we had moved into the area 4 mths previously, and to speak to their mortgage advisor, this imo was not just checking we were in a position to proceed but was downright invasive. There was no way we were going to let an agent have copies of wage slips which contain things like NI no's etc.

You have misunderstood what I wrote. I said minimal information, i.e an AIP.

Asking for wage slips, contracts etc is invasive and unecessary I agree.

MissMotivation

puddy wrote: »

who are these fantasist buyers then that make offers on houses that they neither want nor can buy?

Just typed a massive reply in answer to this and lost it but needless to say....it happens!

zappahey

MissMotivation wrote: »

Because part of agreeing the price depends on the position of the buyer, e.g if the offer made is slightly less than the Vendor initially wanted but the buyer is ready to proceed with a valid AIP and proof of deposit then Vendor might be more willing to accept a lower price.

If the buyer is not willing to confirm his ability to proceed, finances etc and offering low then my advice to the Vendor (bearing in mind I am acting on their behalf) would be to decline the offer.

I don't see why thy deal can't be struck in principle and subject to confirmation of the buyer's declared position within 24 hours.

What you are really doing is exposing the buyer's position on how much you think they are able to pay.

It would be similar to a buyer asking to see the seller's mortgage redemption estimate and overall debt position and then claiming that it's just to make sure that they're serious about selling.

MissMotivation

zappahey wrote: »

I don't see why thy deal can't be struck in principle and subject to confirmation of the buyer's declared position within 24 hours.

What you are really doing is exposing the buyer's position on how much you think they are able to pay.

It would be similar to a buyer asking to see the seller's mortgage redemption estimate and overall debt position and then claiming that it's just to make sure that they're serious about selling.

I think you are confusing who the EA works for. Why can't the deal be done and dusted with the price agreed and finances checked/qualified the same day?

betmunch

I think this is getting blown way out of proportion.
The EA has a duty of care to check the position of the buyer. Just let them ask their questions and tick their boxes.
If they should ask if they can do a credit check say no.
If they ask how much you earn and you dont want to tell them then say thats confidential!
If they say can I do the mortgage for you, just say thanks but no thanks.

There seems to be a feeling here that if you speak to them there will be a new mortgage application underway, its not like that.

Yorkie1

This is all getting a bit overheated and there is a risk of the OP finding himself in a stalemate. Yes, buyers do make offers without being proceedable and yes, EAs do pull fast ones. There are stories on here about all angles. It's about finding a middle position which suits both parties without too must trust being lost.

OP, you don't want to alienate the EA unnecessarily as you may not in fact end up buying this house for whatever reason, and will want to keep them on side. When the manager calls back, perhaps say that you have already spoken to a mortgage advisor, do have an AIP but that you are for obvious reasons unwilling to disclose its details whilst negotiations are ongoing. Perhaps agree to speak to the EA's mortgage advisor as soon as the offer is accepted, or show the AIP plus deposit evidence (given that the AIP is for less than the actual offer amount) that day - with the house not being taken off the market until this has happened.

It really isn't worth losing the house over, nor the EA's goodwill, unless you are confident you won't regret either.

zappahey

MissMotivation wrote: »

I think you are confusing who the EA works for.

I know exactly for whom the EA works, that's why, as a buyer, I would not want to disclose my financial position to you.

MissMotivation wrote: »

Why can't the deal be done and dusted with the price agreed and finances checked/qualified the same day?

No reason at all, it's only a question of the sequence of events.

sunshinetours

If you want the house just play the game. If your finances are solid and you are what you say you are to them give them minimal information and say you are happy to supply more proof once offer is agreed on your basis you proposed it. No need to get heated with anyone or get worked up.

The whole house buying system and especially the legal system in this are is flawed right through so you have to deal with it best way you can.

If the agent gets funny go direct to the vendor, of that I would have no qualms. You have no contract with the agent, the vendor does so just bypass them if they are difficult and see what vendor says