House Offer?

TastyTeeth

OK I put forward my offer this morning.

I really don't like the estate agent already. I explained that I'd viewed the property and wished to make an offer. I explained I was a FTB and currently renting therefore no chain.

Before I could put the offer forward they wanted to know what deposit I had for the purchase??? At this stage I've not even made the offer! I asked why this was relevant at this stage of the offer process and they said unless they were satisfied I had the correct finances in place it could jeopardise my offer! I explained I have a AIP with a major building society and that I intended to take a mortgage with them as I bank with them. I told them that at this stage I was not prepared to release any of my financial details as I don't even know if the offer will be accepted.

I then made my offer. I was then told that "surprise surprise" another offer had been made on the property yesterday! I was then asked if I had a higher offer in mind. I said not at this stage as my current offer hadn't even been put forward.

I don't think the agent liked it because I wasn't prepared to discuss my finances which we all know too well is because they want to push me towards their own in-house mortgage people. As far as I'm concerned, I have an AIP and that should be good enough at the stage of simply making an offer??? Am I wrong about this?

Jeez, I feel like I've been 10 rounds in a boxing ring here :mad:

Jimbo1976

Good work, I think you did everything right.

Whilst I think the EA was wrong to ask you what your deposit was before even hearing what your offer was, it is to be expected that they would want to know more about your position to see how viable you are as a buyer.

It is rather coincidental that another offer was put forward yesterday!

TastyTeeth

Jimbo1976 wrote: »

Good work, I think you did everything right.

Whilst I think the EA was wrong to ask you what your deposit was before even hearing what your offer was, it is to be expected that they would want to know more about your position to see how viable you are as a buyer.

It is rather coincidental that another offer was put forward yesterday!

And I fully appreciate that once we are at the stage of completing negotiations, I'll happily give them the information they require. But I'm not prepared to do so at a first offer stage. All they want to find out is how much I can be pushed up with my offer in my humble opinion.

housesitter

Jimbo1976 wrote: »

Whilst I think the EA was wrong to ask you what your deposit was before even hearing what your offer was, it is to be expected that they would want to know more about your position to see how viable you are as a buyer.

It is absolutely none of their business.
You are buying the house from the vendor.
Speak to the vendor about your viability if the offer is accepted, cut out the middle man.

The house I'm now living in the EA wanted to do an accompanied viewing.
I told them that unless the owener wished to show me around I wasn't interested.
What is the EA going to know about the area, the house, bills, neighbours, etc?

Myself and the vendor then communicated directly. When the EA did stick their nose in and got involved, they only caused trouble with misinformation. Not even capable of passing on a simple message.

DRP

TastyTeeth wrote: »

OK I put forward my offer this morning.

I really don't like the estate agent already. I explained that I'd viewed the property and wished to make an offer. I explained I was a FTB and currently renting therefore no chain.

Before I could put the offer forward they wanted to know what deposit I had for the purchase??? At this stage I've not even made the offer! I asked why this was relevant at this stage of the offer process and they said unless they were satisfied I had the correct finances in place it could jeopardise my offer! I explained I have a AIP with a major building society and that I intended to take a mortgage with them as I bank with them. I told them that at this stage I was not prepared to release any of my financial details as I don't even know if the offer will be accepted.

I then made my offer. I was then told that "surprise surprise" another offer had been made on the property yesterday! I was then asked if I had a higher offer in mind. I said not at this stage as my current offer hadn't even been put forward.

I don't think the agent liked it because I wasn't prepared to discuss my finances which we all know too well is because they want to push me towards their own in-house mortgage people. As far as I'm concerned, I have an AIP and that should be good enough at the stage of simply making an offer??? Am I wrong about this?

Jeez, I feel like I've been 10 rounds in a boxing ring here :mad:

good work in holding your own , that EA is having a laff :rotfl:

arbrighton

note wrote: »

some great advice given on this thread

my view is that dont get attached to a property as you could lose it at any stage until you sign the contract......
.

NO, until contracts are exchanged, it can still be lost. I've signed a contract for a house purchase. But it means nothing until my solicitor and their solicitor exchange them in a telephone call.

housesitter wrote: »

The house I'm now living in the EA wanted to do an accompanied viewing.
I told them that unless the owener wished to show me around I wasn't interested.
What is the EA going to know about the area, the house, bills, neighbours, etc?

Our EA did all viewings with us out of the house. Their way of business (and all others in the area). Better from our point of view, as we probably wouldn't sell very well. They know the area v well being a local firm. We told them about bills and they knew the type of people who live on that street etc. Some debate on when to introduce the fact that house had been underpinned but they did do as we asked eventually. We have sometimes been put off viewings when done by vendor, and in this area, wonder what it is EAs actually do to earn their commission

DRP

arbrighton wrote: »

NO, until contracts are exchanged, it can still be lost. I've signed a contract for a house purchase. But it means nothing until my solicitor and their solicitor exchange them in a telephone call.



Our EA did all viewings with us out of the house. Their way of business (and all others in the area). Better from our point of view, as we probably wouldn't sell very well. They know the area v well being a local firm. We told them about bills and they knew the type of people who live on that street etc. Some debate on when to introduce the fact that house had been underpinned but they did do as we asked eventually. We have sometimes been put off viewings when done by vendor, and in this area, wonder what it is EAs actually do to earn their commission

agree with this.

I would expect a lower fee for the EA if I was to do all the viewings (also day viewings are impossible when a vendor works full time)

TastyTeeth

The agent has come back and not unsurprisingly turned my offer down.

They have informed me that only an offer in excess of £XXX will be considered by the vendor. That would put it at the asking price or above.

I reminded the agent once again about my proceedability but they didn't seem particularly interested. No mention made of the other people's offer this time around.

I have no intention of offering the asking price. I've done my research and know the value I should be buying at.

I told the agent that I'm not prepared to offer what is being asked and that I was withdrawing my interest in the property as the asking price isn't realistic.

So is this another trick? Or have they simply not taken me seriously because I wouldn't give them the financial details they requested?

DRP

How long has the property been on? Do you know if it has had previous offers or many viewers?

Give them time, in a month they may be feeling more desperate ?

arbrighton

TastyTeeth wrote: »

The agent has come back and not unsurprisingly turned my offer down.

They have informed me that only an offer in excess of £XXX will be considered by the vendor. That would put it at the asking price or above.

I reminded the agent once again about my proceedability but they didn't seem particularly interested. No mention made of the other people's offer this time around.

I have no intention of offering the asking price. I've done my research and know the value I should be buying at.

I told the agent that I'm not prepared to offer what is being asked and that I was withdrawing my interest in the property as the asking price isn't realistic.

So is this another trick? Or have they simply not taken me seriously because I wouldn't give them the financial details they requested?

I would have left your offer open on the table as it was. Then look elsewhere. Make sure they know that.
They are obliged to pass your offer on, but may have sold it less favourably to the vendors (nothing stopping them doing so unfortunately).
However, you're right, none of their business.