Won't Formally Accept Offer until we have seen Advisor

Dave_Ham

Morning all,

OP - EA's we deal with (and deal with a lot) by and large would rather push a lower bid with all of their services than a higher with none. This reads really badly but it is the case and where we predominantly work in London & South East, the situation is worse due to the prices.

2% of £5,000 additional vs mortgage fee, proc fee and Sols kickback is not even close in their mind.

Be very determined, put your offer in by e-mail attaching your Agreement In Principle and confirming their advisor stated you met criteria. Follow this up with a call and potentially even print your e-mail and drop it through the door of the house. This is only if extreme.

Holly - I appreciate your integrity and back in the day agents were slightly more compliant and almost more professional. Since you have been involved, the situation has eroded quickly and considerably.

I cannot tell you some of the situations we have found ourselves in and the Agents in cases are effectively blackmailing people for houses they want. I do not use the term loosely.

Regulation is a must, unless any bright sparks out there can find a way to revolutionise the process which unfortunately gives the agent way to much influence and way too much financial motivation (in my opinion)

Good luck to the OP.

oxfordmark

We got mugged by using the EA's own conveyancer. DO NOT LISTEN TO THEM IF THEY SAY IT WILL BE A FASTER SALE!

After we moved in, we spoke to the executor of the house we purchased, who said the sale could of happened 2 weeks earlier if it wasn't for the EA not completing relevant documents.

amnblog

There are a lot of posts on here missing the main point of the thread which is that the OP was told by the Agent they would not take their offer unless the OP took a meeting with the EA's mortgage adviser.

That is unnecessary, out of order, and against the kind of codes of conduct that EA's sign up to in order to provide a veneer of pseudo regulation.

Yes it is prudent for the EA to 'qualify' the potential buyer but as our OP already had a decision in principle that could be done without an appointment with the EA's broker.

The EA now knows the OPs full financial situation and has presumably already informed the EA how much our OP can be pushed on price.

I would like to know who this EA is. What code of conduct they have signed up to and what it says about this practice.

Nelly321

After all the hassle... we didn't get our offer accepted.

Went to a 'slightly' higher cash offer. how much is down to the fact we didn't take their brokers mortgage is another question.

Also when I did see the MA at the weekend, I was careful to note that he didn't actually record or pay much attention to our wages or AIP.

On your last note amnblog... There has been another thread started today from another FTB on this very issue... strangely with the same parent company as the EA I dealt with!

ValHaller

Nelly321 wrote: »

After all the hassle... we didn't get our offer accepted.

Went to a 'slightly' higher cash offer. how much is down to the fact we didn't take their brokers mortgage is another question.

Drop a note through the vendor's door stating the offer you made, your disappointment and no hard feelings - if the current deal falls through, they should feel free to get in touch.

If everyone did this it would keep agents focussed on handling offers correctly.

timehastoldme

Sorry yours fell through, hope a better house (with a different agent) comes on for you soon. I said to my OH, if we ever sell, I wouldn't use the agents we dealt with now I don't think, it's so off putting.

Nelly321

Thanks pal!

I am going to write a nice letter to the vendor tomorrow and pop it through to say thanksyou for letting us view blah blah and slip I'm what we offered to see if it raises any issues.

Looking at sequence homes online it seems there are a lot if disappointed customers with similar issues... A few where they have lied about offers!