won't consider an offer until estage agents mortgage adviser vets us?

timehastoldme

I'm finding myself in this stupid position as of about two minutes ago. This morning we put in a (fairly but not obscenely low) first offer on a house.

Within minutes EA called me back to ask me to see their adviser, we've had a MIP agreed over the phone with First Direct, sent off our ID last week so are just waiting for the written copy to arrive. I told them that, said it'd be pretty inconvenient because their office is a distance away and he said I could do it over the phone. Fobbed him off, and he said he'd call the vendor.

They called back (this is a good three hours later) and said the vendor won't consider our offer until we've had a financial audit, they promise they'll vet all buyers as part of their corporate work and it's at the vendors insistence. Money laundering, we won't try to sell you anything, financially viable blah blah blah... with the mortgage adviser.

I've got to go with ID and a bank statement and sit and talk to the adviser before the vendor will think about our offer. We're FTB so pretty green, but this isn't normal is it?

amnblog

This is not normal and it is wrong.

Another thread on this today.

Most Estate Agents sign up to a voluntary code of conduct which precludes your taking additional services as a pre condition for accepting an offer.

Check who they are signed up with and their code of conduct.

Tell them you can prove you have a mortgage in principle and will not see their adviser. Then should then submit your offer.

amnblog

FROM THE CODE OF CONDUCT FROM THE PROPERY OMBUDSMAN

By law you must not discriminate, or threaten to discriminate, against a prospective

buyer of the seller’s property because that person declines to accept that you will

(directly or indirectly) provide related services to them.

ACG

https://forums.moneysavingexpert.com/discussion/4777928

See this post.

dunstonh

They are telling you a story to try and get their mortgage adviser to sell you a mortgage. They are not allowed to do this. They can ask for evidence you have finance or mortgage to see you are not a timewaster. However, that would not require a mortgage adviser. A mortgage adviser is only there to advise you on what mortgage you need.

timehastoldme

http://www.sequencehome.co.uk/about-us/

This is the network they are part of.

We pretty much thought it was rubbish, but because we have no way of contacting the vendor directly to check, and the refusal to consider our offer is there, I figured I'm going to have to go along anyway and sit and be sold at.

I'm happy to prove I'm not a timewaster (can prove deposit but they know we don't have a written MIP yet, only sent the statements on Friday!), but there is not a hope that they will be able to sell us anything. I'm already deeply unimpressed.

Thank you

amnblog

GOOGLE THIS


By law you must not discriminate, or threaten to discriminate, against a prospective buyer of the seller’s property

https://www.google.co.uk/search?q=By+law+you+must+not+discriminate,+or+threaten+to+discriminate,+against+a+prospectivebuyer+of+the+seller%E2%80%99s+property&rls=com.microsoft:en-gb:IE-Address&ie=UTF-8&oe=UTF-8&sourceid=ie7&rlz=1I7GGIE_en&gws_rd=cr&ei=qnBJUuqMJKvQ7AaBs4DABA

timehastoldme

Their claim is that it's not them discriminating, it's the vendor insisting?

amnblog

timehastoldme wrote: »

http://www.sequencehome.co.uk/about-us/

This is the network they are part of.

We pretty much thought it was rubbish, but because we have no way of contacting the vendor directly to check, and the refusal to consider our offer is there, I figured I'm going to have to go along anyway and sit and be sold at.

I'm happy to prove I'm not a timewaster (can prove deposit but they know we don't have a written MIP yet, only sent the statements on Friday!), but there is not a hope that they will be able to sell us anything. I'm already deeply unimpressed.

Thank you

According to their website Sequence Group are signed up to The Property Ombudsman and what they are suggesting is in direct contravention of clause 7c is their code of conduct.

7c By law you must not discriminate, or threaten to discriminate, against a prospective
buyer of the seller’s property because that person declines to accept that you will (directly or indirectly) provide related services to them. Discrimination includes but is not limited to the following:
● Failing to tell the seller of an offer to buy the property.
● Telling the seller of an offer less quickly than other offers you have received.
● Misrepresenting the nature of the offer or that of rival offers.
● Giving details of properties for sale first to those who have indicated they are prepared to let you provide services to them.
● Making it a condition that the person wanting to buy the property must use any other service provided by you or anyone else.

StuC75

Just show the estate agent the aip that you have but blank the amount \ top line figure.. It may be that the vendor has been messed about by a buyer that couldn't afford to proceed.. Or the estate agent could be telling a lie...

Who did the viewings? was it the owner? is the property near enough for you personally call round? or arrange a second viewing...

Senior_Paper_Monitor

Sequence - what a surprise !!

I am sure it really is the vendor's insistence - 'cos Estate Agents never lie.

Written offer to agent of £x less £350 deducted to meet your costs attending meeting with agent for verification (which they will be required to pass on)