Survey race and HSBC mortgage app currently with underwriters

vee_jess

Good news is I have got my mortgage approved today and I have told the ES exactly what you have advised me 'harvey115'. He said its not his decision and he needs to talk to the owner to confirm. Pretty sure he'll get back and say the owner has accepted so go ahead with the HSBC survey. If not, I will pull out of this stress and use the mortgage to buy another house!

harvey115

Good news, keep it up.

I think you should just tell the EA, if he asks you to get the valuation sorted tell him that if they still choose the other buyer you would want your valuation fees to be refunded.

If they want your business they need to also act responsibly

I am no financial advisor and do not have much experience in this field either. So do not take my word for it, just giving you what I think it should be like.

vee_jess

The Estate Agent is being a real A*** Hole, he is now saying it's a contract race! No disrespect to Estate Agent who is reading this but I've never seen such unprofessional behavior!

Now, I've an approved mortgage and not sure what to do. Will I be able to use this mortgage to buy another property in the same price range? Any advise will be much appreciated.

By the way, it's the Edmonton Target Properties Estate Agent, stay away from them!

harvey115

I think you need say the magic words to the estate agent:

Tell him that if you are signing the mortgage offer, you want to be the only person being considered. Otherwise I am pulling out and you can have the buyer get the property I am not racing for this property any more.

I think as soon as you mention this, the estate agent will straight away come to terms. If he was telling the truth then its also good because there is no point having to fight where both buyers may have to take rushed decisions.

Best of luck.

Thrugelmir

vee_jess wrote: »

The Estate Agent is being a real A*** Hole, he is now saying it's a contract race!

My advice previously was to walk away........

Never was a survey race.

16hm

The estate agent industry is well overdue for some regulation. This is wrong and I find it shocking that people think that it is standard practice.

rajasekharkrs

the same thing is happening with me right now. my offer is accepted but the EA is saying there is also an offer accepted last week and the buyer has paid for his survey also , so anytime his survey is booked the property is gone on his name. I am also with HSBC . i am so stressed because i dont want to lose the property. he said on the phone once that HSBC take more time..i even increased my offer thinking he will put me out of the race..but not he stil says i will be in the survey race. i am sure after the survey is over , he will say another race because i wonder how will the owner will keep quiet when a survey is done? what do u think , do i still have the chance for property or the EA is really telling the truth? i have seen many properties thru them and they know me that i am a serious buyer. my offer for another house was accepted before but the owner pulled out. but i somehow feel something is fishy because , if the other buyer whose offer was accepted before me has shown the AIP , that should be sufficient rite?