Estate agent wants me to attend meeting for in-house mortgage advice

DannyboyMidlands

Ah, the famous "other offer". I just bought a house that'd been on the market for 18 months. Guess what? The very day that I make my offer, the EA coincidently receives a higher offer. It is BS. A particularly lame EA tactic. Often the "other offer" will come from the people who viewed just before you, the ones you passed in the hallway, just to add that little feeling of personal competition. Anyway, in my case, a week later the sale from the "other offer" had "fallen through".


I wouldn't go into too much deatail with the EA if I were you and don't put a time limit on your offer. Just say, I have an AIP for a mortgage that I'm happy with, don't have time or inclination to see an in house advisor at all the EA's I'm registered with, my offer is £x, if the vendor wants to go with somebody else then I wish them luck.

James129

I am in similar position. Called estate agent to arrange a viewing. Was told that before viewing I will have to see their mortgage advisor despite advising him that I have agreement in principle. Then he said it is the way vendor wants so have no choice.

I have checked Natwest and Halifax mortgages online and the offer I have from a building society is much better. If they tried to flog mortgage product then I'll decline politely. If still persistent then ill walk out.

Genuine question, how do you know who is the vendor?

LandyAndy

James129 wrote: »

I am in similar position. Called estate agent to arrange a viewing. Was told that before viewing I will have to see their mortgage advisor despite advising him that I have agreement in principle. Then he said it is the way vendor wants so have no choice.

I have checked Natwest and Halifax mortgages online and the offer I have from a building society is much better. If they tried to flog mortgage product then I'll decline politely. If still persistent then ill walk out.

Genuine question, how do you know who is the vendor?

Knock on the front door?

The person who answers is likely to be the vendor;).

davevincent

Hang on a minute - am I allowed to contact/write to the vendor? Won't that raise a legal issue later in the sale?

DannyboyMidlands

davevincent wrote: »

Hang on a minute - am I allowed to contact/write to the vendor? Won't that raise a legal issue later in the sale?

No legal issues at all, the vendor will still pay the EA because the EA found the purchaser (you).

hazyjo

You can't really contact their solicitor, but can the vendor.

Remember though they're using an EA partly cos they don't want direct contact. That's what they're paying the EA for. But if I were selling, I'd want to know that the EA was demanding any buyers saw their mortgage/financial bod. Wouldn't be happy about that!

Sometimes the EA will ask if their client wants them to make sure any buyers are proceedable, which of course the vendor will say yes to. They word it cleverly. But that does not give them the right to demand you see their in-house whoever. I'd send a letter/note saying I'd made the offer and what the EAs were trying to make you do. Add reference to the law in it saying they're not meant to.

Jx

Millie_Millsters

davevincent wrote: »

My problem is that I really like the house.

I'd walk swiftly away, there are plenty more houses and estate agents around. Agents only get away with it because we, the buyers, let them!

davevincent

Well, surprise surprise. After telling the agent I wasn't attending the interview, and after threatening to withdraw my offer at the end of the day, I got an early evening call saying the offer was accepted. You're were all quite right, all the stories he spun were all lies, and to make matters worse he tried to be my friend before he gave me the news. They say they're gonna continue to advertise even though my offer is accepted - i'm still tempted to walk away. I'll continue to view houses i think. The thought of dealing with this scumbag for the next couple of months fills me with fear.

krlyr

davevincent wrote: »

They say they're gonna continue to advertise even though my offer is accepted - i'm still tempted to walk away. I'll continue to view houses i think. The thought of dealing with this scumbag for the next couple of months fills me with fear.

This might be a request on the seller's behalf though. Our seller asked that they did no more viewings when he accepted our offer, but by law they have to pass on any offers. The "Sold" sign didn't go up on the website/outside the property until we had our mortgage in principle, and wasn't removed from Rightmove until we actually exchanged contracts. Until you exchange, the sale isn't guaranteed (well, it's not even guaranteed then but there's legal recourse) so sellers won't necessarily have the house removed from the window/website/etc. straight away, just incase.

hazyjo

Wouldn't be happy about them continuing to advertise it. With a 'under offer' or 'sold subject to contract' on it, fair enough. But not to still have viewings/offers. You could have paid for survey, solicitors, mortgage fees, etc...

If they are wanting proof you're a serious buyer, might be worth agreeing to their stipulations so long as they withdraw it from the market once you've had your survey done, for example. Then get on with it pronto!

Congrats, btw. Although it does feel somewhat tarnished...

Jx