EA Moan - In-house Finance!

Dan-Dan

out of interest guys , how DOES a EA `QUALIFY` an offer.....? in a way secure enough that would convince a vedor to accept it ?

kingstreet

What's your income?

What's your deposit?

Any credit problems?

Agreement in principle?

If I was satisfied with those answers, it was qualified as far as I was concerned.

hunnieybunniey

contact the vender directly they are extremely pushy are sequence, they tried to get me with there mortgage adviser, I had one appointment she was rubbish, I got a mortgage on my own they then tried to dictate to me that I needed to use there solicitor i told them i had appointed my own and i wasn't budging. there so pushy as they will just try and find out how much you can offer, cause i originally got my first mip with there MA she kept asking where i got this money, i politely told her it was none of her business.

Dave_Ham

This is my hot topic at the moment as it has always been bad in our area (South East) although am seeing it more and more up and down the country.

You would fancy the Estate Agents (and the Vendors if they are ever told the truth) would be happy with a valid AIP, from a credible mortgage broker that is happy to supply the proofs they require.

Are they hell!

The new tactic is apparently to say that their vendor has an expressed wish that their mortgage advisor has to pre-qualify any offer on a face to face basis.

Had an advisor at Connells a couple of weeks ago who was actually happy to argue the point. Brilliantly she said that the client had said this was their top offer and therefore she was nervous about it being responsible lending and they had a duty of care. You can only imagine my response! - this was not even the mortgage advisor.

Why no huge organisation has not put some money behind developing the next Rightmove and let people deal with people - the world would be a better place..

Have not had an Estate Agent rant for a while, feel better already

pops5588

We were also pushed constantly by Connells to sit with their FA and was told I was a "silly little girl" when I refused. They wouldn't take no for an answer and in the end they just stopped updating us on new properties and wouldn't call my OH back just because they were throwing a tantrum about the fact we wouldn't take all our financial information in and sit with this person. Its a shame because even if our ideal house came on the market with them, we would think twice about even viewing it.

chappers

pops5588 wrote: »

Its a shame because even if our ideal house came on the market with them, we would think twice about even viewing it.

Thats the way to stop this practice, buyers and vendors will refuse to deal with these people and they will either go out of business or mend their ways.
There are still good estate agents out there, believe it or not.
I used a local one a year or so ago to sell two properties and they were brilliant. I know people who have bought property through them and their approach to the whole thing is make their money as an estate agent, doing what they do best not through, secondary commisions and selling ancillary products. They will give you a list of IFAs that they recomend and have dealt with in the past and then it's up to you.

My neigbour is a mortgage advisor and half of my wife's family are lawyers why would I want to use the ones provided by an estate agent that I don't even know.

Dan-Dan

I despise Connells

Out,_Vile_Jelly

I'm looking to buy at the moment, and I've had agencies tell me they have an in-house advisor if I'd like to book an appointment, but haven't mentioned it again when I've firmly declined.

Foxtons are notoriously awful and genuinely do not seem to care about their dreadful reputation. I would drop a note through the door of every property with one of their signs outside explaining how potential buyers are being put off.

kingstreet

Small, local firms are the ones least likely to operate like this. It's the national small lender panel, flog everything under the sun brigade who are the greedy ones who try to force people into using them for everything.

Vincent.waldorf

This may have already been said, but when you see their FA, they will work out how much you can afford and they will use this to their advantage i.e. tell the seller to dismiss your offer to get the figure they want.

Basic EA tactics and having better information.