Is it dodgy?

Tiger_greeneyes

I'm glad you stood up to the agents, and that they're asking the vendors about suspending marketing. Well done!

However, I think I'd be wanting answers regarding this other offer. I'd be tempted to point out that the other purchaser is highly likely to get in first with the survey and that I'd want to hold off spending any money for now as it seems pointless, but leaving the offer on the table.

If they don't withdraw from the market to give you time to get your survey done and confirm that this other 'purchaser' has 'pulled out' then I'd be walking away.

Worried

Financial advisor has rung to get a couple more details for our application. During the conversation he more or less told me that even if other buyers survey comes in first the EA will sit on it until ours is ready, as we are clients of his. I really don't like all this underhand stuff. It makes me think more and more and the other offer was cooked up between him and the agent, but even if it's true and he's doing us a favour, I don't like that sort of thing. I wish I could walk away from this house, but it's the best we've seen and OH loves it and I don't want to let him down. EA hasn't got back to me with vendors decision about suspending marketing yet. Funny that!

shelly

I agree with you about the sound of all this being underhand. I wouldn't like it either. I think you and hubby need to sit down and talk it through as to whether you think its all worth it. I loved the house we offered on over xmas but realised the seller was messing us about big time, we weren't going to stand for it and walked away, it was hard and I was absolutely gutted but it had to be done. We have since found a better one......you will too.


Also if the vendor won't stop marketing the property and you pay for a survey to be done, will they accept any offers in the mean time? You could be wasting your money here. Same thing if the other buyers actually exist, if they get there first do you lose out? We had to pay for our valuation survey up front, if you have to too, will you lose it if the others buyers/anyone else gets in first?

franklee

I'd also be concerned about the other buyers getting in first. But what do you know about the sellers position? Have they found somewhere to move to yet and what length chain does that entail? Only if it takes them ages to get suited there is even more time for another buyer to guzump you. Surely the chain should be formed first, then everyone does their surveys at about the same time. Otherwise you do your survey and then may be kept waiting months in which time anything could happen

Doozergirl

I'm starting to get the distinct impression that the only reason you have a shot at this house is because you are using the IFA connected to the EA. I believe that there is someone out there who also wants this house and that they are being fobbed off to enable the IFA to get his commission.

If you want to go for it still with the threat of things going pear shaped then I think you need to be prepared to see the all the fees you are about to spend as a bit of a gamble and I'd continue to look at other houses, in case.

It's putting a bitter taste in my mouth. I think someone is definately being duped

Tiger_greeneyes

Worried wrote: »

... if other buyers survey comes in first the EA will sit on it until ours is ready, as we are clients of his.

They really are something else, aren't they...

I wonder what the vendors would say if they knew about this 'service'?

This is where the estate agents and I would part company, I'm afraid, I'd run a mile - and I'd write to the vendors to explain why. If the agent can manipulate all of this then what else are they doing? If someone else comes along who wants a bigger mortgage or an added life policy for instance (ie more commission for the financial advisor) will they dump you as quickly as the other purchaser?

Worried

Still at a loss about what to do. Whole thing makes me feel sick. Still haven't heard back from EA about my request to suspend marketing. Haven't chased it up either, as have got my head in the sand today and haven't had space to think about how to act. Either we are being duped, or the other interested party is. Talking to people and everyone seems to say, that although it's not right, if dodgy dealings are to our advantage then we shouldn't worry too much. Still keeping an eye at for something else, but really isn't anything that we like as much. Nothing I even want to view. I just don't understand what the other people are being told, if they do exist, as apparently their offer was accepted before we first viewed and we viewed sat 24th. Surely they'd be chasing to see why survey hadn't happened and house wasn't off market? Perhaps there has been some problem with them and they can't proceed but EA haven't told us to keep the pressure on until survey goes in.

How exactly does the booking in of a valuation survey work, if there is no home buyers or full survey being done at the same time? Once Abbey have our application and if it's all ok, do they contact the EA to arrange a time to go round to the property?

We have to pay the £330 valuation fee upfront. We are prob going to arrange our own structural survey, so that we can make sure this isn't done until seller finds a house to buy. When they EA is saying the property will be on market until valuation is booked in, do you think they actually mean when it is booked in, or when it is carried out, or worse, when mortgage offer is issued? If it is just until valuation is booked, I could check if any other offers had been put forward the afternoon before it's carried out and cancel it, if they've had higher offer. If there's been no higher offers, it's really just the £330 valuation fee we're risking isn't it, as I wouldn't proceed and spend anymore money unless they take the house off the market after valuation. Can anyone see any potential problems I'm missing?

Tiger_greeneyes

Sorry, Worried, this is only a quick reply as I'm on my way out...

If I were in your shoes, I would let them know the offer is on the table but not going to instruct a survey/solicitors or spend any money on it until

1) the vendors have found somewhere to purchase and are having their own survey done, and

2) you're sure there aren't any other offers/surveys being done on the property.

It's the only way to maximise your chances of not losing your money, I'm afraid.

Out of interest, when you have your valuation done, you generally have your building survey done at the same time by the same surveyor - it will save you a decent sum of money as they're already there and only have to get the information once.

The other houses that are on the market that you don't really want to look at, look at them anyway! I know it sounds mad but the outside of my house made me turn my nose up (it's bright mustard yellow) but the inside of it more than makes up for it now we've made it our own.

If you don't get this house, there will be others you love just as much if not more - you just have to sit tight and keep an eye on websites such as rightmove and the local papers.

Sorry I can't be of more help but I really can't see any other way of forcing a 'good' outcome to this, the best you can do is let your head rule your heart and hold onto your money until you're more sure of a satisfactory outcome.

Doozergirl

I would, generally speaking, not book a valuation until a vendor had found somewhere to move to. Sometimes vendors take months to find somewhere and there's no actual benefit to you starting the ball rolling; in fact, it can be a bit of a gamble as they may be completely disillusioned with what is available and pull out. If you all start together, you at least know that people are definately on the way to moving.

I'm thinking now that the other people that have offered are waiting for the vendors to find somewhere before booking survey. That is how/why the EA has the opportunity to shove you in there and are push you into the better position in the vendors eyes by manipulating you into having the survey undertaken because they won't stop marketing until you do.

Can you see what I mean?

Worried

Now I'm getting confused about this survey business. Nothing was said about any other kind of survey when we applied for mortgage. On illustration it doesn't mention fees for building survey. I don't know anything about it, so assumed this meant they didn't offer one. Mortgage is with Abbey. Do people not usually arrange find their own surveyor for a full structural survey? Do they always usually arrange this through the lender?

I understand what people are saying about this situation being unsatisfactory and that we shouldn't arrange or pay out for anything until house is off market and vendors have found, but this is the situation we are in, we are being told arrange valuation before other party and house stays on the market until we do. I don't feel like the balance of power is with us at the moment. Once our valuation is booked in and house is off the market, I feel like we can start calling the shots a bit. Maybe I am handling this badly, but I'm inexperienced in all this and I don't really understand how it is all been handled.