Estate agent making unreasonable demands?

eddddy

SmashedAvacado wrote: »

Yes Eddy, but those bids would need some DD by the EA to be considered valid bids - just like the bid from the OP. So your mates might need to demonstrate proof of funds and mortgage offer in principle.

I think you need to put that spade down, and stop digging.

EAs don't do due diligence* on unsuccessful offers...

EA: "Your offer was unsuccessful, but can I see your bank statement and mortgage offer anyway."

And a valuer wouldn't trust an EA's due diligence* anyway.

(*I assume you mean 'due diligence' when you say DD - as opposed to Direct Debit, Designated Driver, Darling Daughter etc.)

SmashedAvacado

Due diligence - just like what was being requested of the OP. by the EA in the first post. The buyer was being asked to provide information to the seller that they had the ability to close the deal. I think that was the actual point of the OP mate. Valuers will use all relevant information.

foxy-stoat

DesperateHouseBuyers wrote: »

they are asking us to confirm in writing that we will cover any difference in the valuation

Agree that you will look at your offer on receipt of your valuation - your offer could go down though.

SmashedAvacado

Foxy - i don't think they want to be saying that because they are in a competitive bidding situation. Better for them to say that they can cover any shortfall and then seek to renegotiate should that be needed once the competitive tension has been removed down the line. the other buyers will have moved on and the seller will be more invested in getting the deal away - and the agent will want closing to happen so they get paid - they wont want the process started again.