Estate Agents and Management Companies

julia817

Hi all,

Need some advice on what is official and what is nonsense. I have put in an offer on a house which is vacant as someone died. The house is being sold through an estate agent, and they are acting on the heirs of the property and also a management company. I have an AIP and deposit and am very happy with my current mortgage advisor. The estate agent has said the management company are insisting that I speak to their in house mortgage adviser to check my "affordability" despite me sending them my AIP and proof of deposit. Someone had made an offer prior to me which was low so it had been kept on the market. I said my offer was conditional to it being taken off the market.

Is the above legal? How do they work out my affordability (isnt that what my AIP has already done?) Are they going to have to do a credit check on me - or is this an underhand way of the estate agent trying to get me to have a mortgage through their broker (which is what i suspect?)
I have asked them to verify in writing from the management agent what it is they want. What do you think is a reasonable amount of time to do this?

Thanks all for looking.

J

thesaint

Is what legal?
You don't have a right to buy the property.

julia817

It is right that they are making it a condition of the sale of the house that I must use their mortgage broker, or discriminating against me if I don't?

Thanks

cattie

Unless this house is something like shared ownership then the ea has no right to insist you see their in-house advisor.

Just tell them that you already have an AIP, are happy with the deal the lender is offering you & that you don't see the point in you wasting your time or the mortgage advisors theirs on a pointless appointment. They have no right to insist on you seeing one of their staff or that the house can only be sold to you if if you comply.

Has your offer been accepted or not? If so then yes do ask that it's taken off of the market asap.

thesaint

julia817 wrote: »

It is right that they are making it a condition of the sale of the house that I must use their mortgage broker, or discriminating against me if I don't?

Thanks

You are using terms like "illegal" and "discriminating" liberally.
You can negotiate, but you have no right to do anything.

kingstreet

Management company? Why?

This is a probate sale, where the Executors are selling the property on behalf of the estate of the deceased owner.

What connection does a Management Company have? Has the property been repossessed? Is it an Asset Management company?

hazyjo

:spam: reported.

Jx

ACG

The estate agent can not insist you see their advisor. They have to put your offer forward even if its for £50.

Report them to trading standards as they are not allowed to withold ANY offer. They want you to see their broker for 2 reasons - 1) see what they can afford to make sure you pay the most you can afford and/or 2) to earn money from the mortgage they want to sell you.