Estate agent difficulty

Bfish10

We've made an offer on a house we love and we're waiting on a decision for monday (we submitted it close to them EA closing on Saturday). So no problem waiting.
But the EA has told us that for our offer to be "verified/vetted" for the buyer we need to provide our AIP (no problem) and have a mortgage meeting with their in house financial advisor.
We don't want to go through their financial advisor, but thought we'd just sit through the meeting and politely decline a mortgage with them. But we have now realised that there's a potential fee for the meeting in the first place.
Please does anyone have any advice on the best approach to take for this? We don't want to do the wrong thing and potentially lose our dream house, but we also don't want to be taken for mugs.
Thanks

Alter_ego

I'd contact the vendor myself, and make the offer.

BobQ

The EA is obliged to pass on all offers received to the vendor.

The vendor may has asked the EA to check that the purchaser has the funds or mortgage to complete the deal. So asking for evidence that you have this is fair.

EA's like people to use their mortgage services and make commission out of you doing this. You have no obligation to seek their advice on any financial matter. For a start they are not independent.

I would politely complain about the approach and either call the vendor or drop a note in their letter box that you have made an offer and are concerned the EA is not passing it on by conflating the offer with a mortgage.

EA's have been doing this for years. I would not pay a fee for a mortgage interview and I would decline their offer of such an interview. Maybe worth adding that you will look at alternative properties if they make it a condition of purchase that they arrange the mortgage.

akimi

Just get an AIP yourself and email it across to the EA.

Finchy2018

They have an obligation to put forward any offer (unless instructed) but also have an obligation to make sure you can proceed (I could offer on a million pound property, I can't afford one)

Get your broker to speak to theirs or just speak to them on the phone or provide aip. There should be no fee for a conversation.

Mickygg

Yeah happened to me several times over the years, but I simply say each time firmly I am not interested and I have mine sorted and each time they just said fine and proceeded with my offer.

I think they try to get people who don’t like to say no.

Just send an email with your AIP and write you do not need or require their mortgage services. This will suffice.

scholesfan88

I had this issue a few weeks ago and I'm fairly certain that the EA pushed us out of the picture in favour of another buyer who was using their mortgage broker.

Difficult to prove, but once I declined to use their services the EA got really arsey and attitudes changed.

I'm certain they will push forward a buyer that their going to make a few more £ on in a referral fee than one that they wont.

merrydance

This is called an offer check. They make sure you have the funds in place. it is an opportunity for them to find you a better offer if you want. There is no fee charged where I work.

pinkshoes

merrydance wrote: »

This is called an offer check. They make sure you have the funds in place. it is an opportunity for them to find you a better offer if you want. There is no fee charged where I work.

The EA works for the vendor.

Why on earth would the OP want to disclose all their financial information to the EA?

The EA could then see how much they can afford, and tell the vendor they could squeeze more money out of them.

OP, decline seeing their mortgage advisor and just ask them to pass the offer on.

I would also send a copy of the offer to the vendor, just in case the EA doesn't pass it on.

merrydance

Yes the estate agent works for the vendor to ensure the buyer can afford the property. The mortgage adviser is not allowed to pass on such private information to the vendor. He would lose his job. The appointment takes 5 minutes if you are not interested in getting any further quotes. The vendor relies on the estate agent to sort this out, a fair few never want anything to do with the buyer, that is why they are paying commission.

Sammypooler

Anyone else missing the fee the OP hinted at?