First offer made however........

yllah

Hi,

I made first offer on the property we like which is 12k less than asking however the estate agent is now asking me to email over the Agreement in Principle. Surely I don't do that as they would be able to see my details etc.????

Should I not just give advisors details or tell them to contact the lender?

betmunch

Personally I wouldnt until a price is agreed.

Offer that to them and see how it goes down.

Remember they have a responsibility to the vendor to check you can proceed, but you dont want to weaken your position by showing you can increase the offer

yllah

Thanks BetMunch.

I thought that myself, I do have a reference number however certainly don't, and won't, show them the details of the AIP.

I might call my lender back later today and ask for their direct contact details so that the estate agent can call them verbally to confirm my AIP and not anymore details other than the lender saying 'Yes - they have an AIP'

mboo29

Can you not just send them a copy of the agreement in principle with the financial information blanked out?


I'm sure I read on here of someone else doing that, as not all agreements in principle have the amount on them. So the estate agent would have to accept that.

yllah

Yeah that's a good idea - I might blank it out with abit of plain paper and then scan it in and email it over.

Thank you

cns06

They don't need to know this information until the vendor says ok. The offer is either good or not. Its not like you are going ahead. They can prove you are ready willing and able in 5 minutes once the vendor says ok. If you are not RW&A then they will soon find out and nothing is lost so I am sure they are trying to get you up. I made an offer last week (rejected) and the EA don't know me from Adam. They saw me once for the viewing for all they know I could be broke! They have an obligation to pass your offer onto the vendor. If they push it just say you are a cash buyer. Then what.. they want to see your bank balance before they make a 30 second phone call to the vendor... yeah jog on.

ellie27

Make sure you score out your max borrowing amount on it!

We have never been asked to show an AIP, we are asked if we have one but we just say 'yes' and thats it!

AndyBSG

On my recent purchase I didn't have to supply this.

We made the offer, the vendor accepted. I then had to show proof of deposit but all that was required regarding my mortgage was that they mortgage provider confirmed with the EA that I had a decision in principle which covered the price agreed

I certainly wouldn't be showing the EA the details of my decision in principle as that's my confidential and personal information!

yllah

Thanks for the replies everyone.

Even more politics now - they rang this morning asking about the DIP again. I explained we have one and the process we went through, I also gave the advisors details. They've actually sent the offer to the seller apparently however this was yesterday at 4pm.

Spoke to them this morning - apparently they haven't heard from the seller in regards to the offer but continued to ask about the DIP specifically asking about the amount haha.

Good job I now know they don't need to see it - I have no issue sending the DIP without any personal details on.

somethingcorporate

Where in the country are you? Depending on where you are may indicate why the agents are being pushy.

you should definitely keep your cards close to your chest on the value of the DIP, they are just going to try and wangle more money out of you.

amnblog

This is an Occupational not a Geographical issue.


An Estate Agent does not need a specific postcode to be an idiot.