Estate agents asking for proof of AIP before viewing

datlex

pennypinching77 wrote: »

Hi Cathy

When I was buying what turned out to be quite dodgy ea asked me for my mip before viewing properties which I of course obliged.

I soon found that every property I took an interest in and proceeded with an offer then happened to have another interested party even though none was mentioned before and I was encouraged to up my offer.

I personally feel the ea knowing how much I had to play with wanted me to max out. I backed out of 2 bidding wars and lo and behold the houses still remained on the market. The 3rd I made an offer on and again was told there was a 3rd party so I simply upped my offer had it accepted then made the vendor drop the price due to damp issues.

My advice would be don't show them your hand if needs be. Not following property prices so don't know if it's a sellers or buyers market but I'm sure if they want a potential sale they'll still let you view without a mortgage in principle.

Hope all goes well

This would be my concern too. I'm starting to look at buying. Currently been going through finances and have an AIP in place. There are places advertised at OIEO £110K here but similar properties in same streets sold for £82k and £95K within the last 6 months. Nothing to show which they are worth £15K to 28K more. My concern with an EA knowing more about your budget, is that they would push you for more.

EachPenny

Thrugelmir wrote: »

Serious potential buyers will already have done the groundwork in order to show their intent.

Out of interest, what happens if the buyer is intending to purchase with cash or getting a private loan (bank of mum and dad)?

Will the EA demand to see bank statements before booking a viewing? (serious question)