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Does backing your offer with an AIP hand the advantage to the EA/seller?
Comments
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You are absolutely right and have put something quite succinctly which I could not quite frame. Anyone with a £200k AIP would be in a very strong position to walk away from a very low offer being rejected on a £100k property.Reductio ad absurdum doesn't really help the discussion.
The more likely scenario is that the AIP is a few percentage points higher than the offer and would certainly be seen as within negotiation range.
FTB's are most vulnerable to Agents squeezing them for every last penny. Their position is transparent because- they are naive about negotiation
- they naively accept idiotic advice from this site and others to show the AIP to the Agent
- not having any property equity they have less smoke and mirrors to hide the availability of funds
- it is a racing certainty that their prospective Loan To Value will be at or very near the current market maximum - and if the AIP reveals the lender, it will narrow the prospective Loan To Value to be at or near that particular lender's current maximum
You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'0 -
kingstreet wrote: »
Perhaps I just find it difficult to comprehend a person's inability to say "no" at the appropriate time.
Having spent a year house-hunting, with an increasingly desperate wife, I don't.
Some of the pressure applied by some estate agents is very effective in that situation, never mind the out and out lies that some told.What goes around - comes around0 -
When we went for our mortgage, we asked the lender to produce us an extra AIP on one salary to show the EA (as we'd been asked for an AIP) - so it reflected what we wanted to spend not what we could afford. They were very happy to do this for us
:staradmin:starmod: beware of geeks bearing .gifs...:starmod::staradmin:starmod: Whoever said "nothing is impossible" obviously never tried to nail jelly to a tree :starmod:0
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