Estate Agents: How involved?

ValHaller

RoxieW wrote: »

Fair enough. new to this process so thought instructing solicitor's was something you did when the process is in motion. In fact, we had our offer accepted over a week ago but the EA asked us on the vendors instruction to hold off instructing sols/surveys for a week while they 'got their head around it'. They also kept us on during the offering process (taking up to 4 days to respond to an offer) so I do feel that it's abit rich that I have the EA chasing me now.

Then I would agree with you, it is a bit rich.

The ideal is to get solicitors' quote for the spec of house you are looking to buy and instruct them once you have an offer accepted.

hazyjo

I never have and never will show an EA my bank statements. Your mortgage provider can let them know you can afford the house, or your solicitor.

Jx

DRP

RoxieW wrote: »

Fair enough. new to this process so thought instructing solicitor's was something you did when the process is in motion. In fact, we had our offer accepted over a week ago but the EA asked us on the vendors instruction to hold off instructing sols/surveys for a week while they 'got their head around it'. They also kept us on during the offering process (taking up to 4 days to respond to an offer) so I do feel that it's abit rich that I have the EA chasing me now.

agree with other posters. It is a little odd that they have asked you to hold fire and are now getting shirty...

ask the EA exactly what is going on. The house is off the market (SSTC) now, right?

RoxieW

Yes it's all sorted now. They had a recent change of circumstances so their original onward chain plans had fallen through so they were deciding whether to go into rented or look elsewhere. They have had an offer accepted on a house now so it's all systems go.

I've instructed a solicitor off my own steam and let the EA know. I just didn't realise that EAs were so involved in the process and thought of them as sales people tbh.

maninthestreet

RoxieW wrote: »

Yes it's all sorted now. They had a recent change of circumstances so their original onward chain plans had fallen through so they were deciding whether to go into rented or look elsewhere. They have had an offer accepted on a house now so it's all systems go.

I've instructed a solicitor off my own steam and let the EA know. I just didn't realise that EAs were so involved in the process and thought of them as sales people tbh.

It sounds like they were trying to get you to use their 'approved' solicitors.....

eddddy

RoxieW wrote: »

I just didn't realise that EAs were so involved in the process and thought of them as sales people tbh.

Absolutely - a good EA will progress the process through to exchange. In fact, you may have more contact with the EA after the offer is accepted, than you did before. Their fee normally becomes payable on exchange, so they will do everything possible to make sure exchange happens, and as soon as poss.

lee111s wrote: »

The estate agent I'm buying through has also been calling my solicitor for updates and then relaying them to me!

Really????

Did you instruct your solicitor to accept calls from the EA, and to disclose privileged info? It sounds like a conflict of interests to me - letting the seller's agent contact your solicitor. I'm amazed that any solicitor allows this.

Also, check whether your solicitor is charging you for receiving these calls. Solicitors can charge up to £20 or £25 for receiving a call.

lee111s

Nope, I think they just want to know what's going on, it's money in the bank for them sooner the quicker the house sells I guess. They've never mentioned it before and I've rang 3 or 4 times in the past 2 weeks. I doubt they'll be able to charge me at the end without notifying me first of charges for phone calls. I very much doubt the will given how they go about their business. My parents have used them for the last 3 moves and had no issues and never mentioned any charges like that.

mischiefmaker

vectistim wrote: »

Estate agents' job after offer accepted:
Check funding, check the chain from bottom to top, get solicitors' details from both sides, send out sales memo to both sets of solicitors, buyers and sellers, check up on solicitors' progress, check up on mortgage progress, calm the nerves of both sides, explain the silly phrases in the valuation report (eg: flat roof extension - limited lifetime, prone to sudden failure, etc), deal with any post-valuation renegotiation, check progress up and down the chain, get completion dates being discussed up and down the chain.
Assuming that all happens, sit there on completion day holding the keys dealing with an irate buyer who wants the keys, but they can't be released until the seller's solicitors confirm funds have been received, which invariably happens at 1.05pm but the solicitors have gone for lunch at 1pm, won't get back until 2pm, and won't get round to checking the bank until 2.30pm.

Love this, I work in an estate agents (don't shoot me) love my job and it's very rewarding but may people don't realise what happens behind the scenes.

C_Mababejive

EAs are parasites. They have no right to inspect your personal papers and finances. Your solicitor can contact them to re-assure them as to your status.

eddddy

lee111s wrote: »

Nope, I think they just want to know what's going on, it's money in the bank for them sooner the quicker the house sells I guess. They've never mentioned it before and I've rang 3 or 4 times in the past 2 weeks. I doubt they'll be able to charge me at the end without notifying me first of charges for phone calls. I very much doubt the will given how they go about their business. My parents have used them for the last 3 moves and had no issues and never mentioned any charges like that.

Hmmmmm - I think the EA is telling you porkies!

A buyer's solicitor would not discuss anything on the phone with a seller's EA. Maybe the EA is trying to fool you into thinking they know more than they really do.