How to make offer without revealing DIP max?

rfyapbtl

If I make an offer will a vendor's agent ask to see my DIP before considering us? Reason I ask is that my DIP is ~30k above my offer and I obviously don't want vendor to know this...

roje

No. And if they do, you're not obliged to show it anyway. I didn't send mine over until my offer was accepted.

ACG

They may ask to see a DIP.
You could say you will get one for the amount you need assuming your offer is accepted. You can say there is no point in getting a DIP until you know your offer is accepted but you have spoken to a broker who has confirmed they can get a DIP for the amount you have offered.

GMS

Could you show the DIP and a lower deposit or would this exceed the purchase price?

oli_ro

I think buyers are a bit paranoid over the amount shown in the DIP. Think about it, the agent knows that the DIP is probably higher than your offer, how many people put an offer exactly at maximum DIP level ?

In fact, they probably also know that from DIP to Offer is a long way and the actual amount could be lower.

Being firm with your offer and maximum limits is probably more effective strategy.

They need to see evidence that you can raise money, but if you don't want to show the DIP, ask them to have a chat with your broker.

happylucky

On selling last year, I naturally wanted to know that my buyer had sufficient funds ASAP after provisionally accepting their offer. I was more than happy to accept a brief email from their mortgage provider (= their bank) to my estate agent confirming "they were good for it" even though they had not submitted an official mortgage application at that point because they were on holiday.

I never considered their maximum budget to be any of my business. Nor my estate agent's.

amnblog

Some estate agents are 'nosey' for their own purposes.

PixelPound

I suppose some people use the "its all I can afford" argument if offering below the asking price, so showing a DIP with more on exposes the fib. I don't think the EA cares whether you can afford more than you offer, they just want to sell it for the maximum they can. It will come down to whether they want the property off their books as to whether they will encourage vendors to accept a lower offer.

Ask yourself is it the maximum you are wanting to pay and are you willing to walk away if its not accepted? Are you willing to pay more, but would prefer not, and if so willing to risk losing it by holding off? If so, stick to your offer and if you are willing to increase it at some point then you can, but the EA will be used to tactics and you are likely to blink first After all you will be focussed on this property where as they have other properties they can focus on whilst waiting for you.