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DIP Query
Slayerx
Posts: 1,285 Forumite
So I've got a viewing for a property on Friday.
The EA won't allow anyone to offer without a decision in principle which I can understand as they want to avoid time wasters.
However would this show them the most you can borrow and possible effect negotiation over price if they see you can borrow more than your offer?
The EA won't allow anyone to offer without a decision in principle which I can understand as they want to avoid time wasters.
However would this show them the most you can borrow and possible effect negotiation over price if they see you can borrow more than your offer?
Official DFW Nerd Club - Member no. 065
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Comments
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Depends on the lender but most would show the maximum or what was requested yes.
One of the reasons I always tell my clients to agree a price before showing any DIP. You could take a DIP but cross out the amount. Alternatively its not uncommon where I call estate agents and tell them I have assessed them as being good for the money on the amount offered.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
The estate agent is Your Move and I'm not a big fan, they have been less than proactive to get a viewing for a property they've had up for sale since July.
I have a feeling there going to be a pain to deal with.Official DFW Nerd Club - Member no. 0650 -
knock on to the vendor and tell them the estate agent is not easy to deal with can you arrange an appointment directly with them?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Vendor isn't local she bought the house to do up and sell.
The property is been marketed by two EA's but the smaller EA is closed until next week.
Half tempted to view with Your Move and then offer to the local firm.Official DFW Nerd Club - Member no. 0650 -
If you do that, you may find they get into an argument about who is due the fee which the vendor gets embroiled in.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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True I just feel if Your Move are this useless now what will they be like when there suppose to be keeping the sale moving along?
Luckily it is chain free.Official DFW Nerd Club - Member no. 0650 -
The bulk of the chasing is usually done by the solicitors anyway.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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If I were your broker I would tell Your Move that we have a mortgage decision in principle for you sufficient for your purchase price band.
I would not provide them with figures or a dip, nor tell them which lender.
It's none of their business.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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