How much information does the EA of a house I want to offer on need?

HopeAndDriftWood

I want to make an asking price offer on a house. The EA would not accept it until I had sold my flat.

I got a private offer on my flat yesterday, the brother of our next door neighbour wants it. I called to let the EA know yesterday; they said they needed us to be sure it was a serious offer and asked us to find out the solicitors and estate agent involved, which I did last night.

I've called back this morning, and the EA still doesn't want to put the offer across, he is now saying that I need to get complete information on where in the chain the buyer is and what his property address is.

Is that all normal? He seems rather short and irritated with me. The house we want to buy hasn't had a huge amount of interest, the price was reduced in early August and it's still available which is unheard of around here, but it has had a sale fall through in the past few months. The EA did want to sell our flat, so I can't tell if they are just annoyed that they'll miss that commission...

If this is all required, can anyone let me know what happens next, so I can try and be prepared and speed things up?

I know I need my offer accepted before I turn my MIP into a mortgage offer. I'm hoping to do that this weekend.

D_M_E

As far as I am aware, at this stage all the agent needs to know is that you have sold subject to contract.

Can you go back to the property and tell seller(s) what your offer is, you have sold etc and that agent is refusing to put forward your offer?

foxy-stoat

They have to put all offers forward and state your position;

Offer subject to sale
Offer subject to contract
Proceedable offer - ie all finances in place, chain confirmed, buyer with offer and his finances in place.

Unless you are in Scotland its not sold until exchange.

EA hasn't learnt to speak professionally yet, sounds like the same people who sold my place.

lisyloo

Remind them they are legally obliged to put your offer forward.

Put a note with your offer through the door directly if local or in the post if not to the seller direct and note your difficulties getting you offer put forward.

hazyjo

How did your neighbour's brother find out it was for sale? Board? Online? If your neighbour told him, how did they know? You told them, or through advertising?


Chances are, commission's due anyway. Read your contract very closely.

eddddy

Just to look at this from a different perspective - it's a difficult situation for the EA.

Unfortunately, some prospective buyers lie to EAs about their proceedability etc.

For example, they might think

"My house isn't under offer, but I'm sure I'll get an offer soon. So I'll tell the EA my house is under offer, to get the seller of the house I want to take it off the market"

In this specific case, I guess the EA is worried about 2 things:

• 1. Are you telling the truth about your neighbour's brother's offer? (Or is it a scam to get the seller to take their property off the market until you find a real buyer?)

• 2. If you are telling the truth, is the neighbour's brother really proceedable (or is he a dreamer)? Does he have a MIP, deposit etc?

If you were the seller, you'd want your EA to find these things out.

And a good EA would want to be reasonably sure of a buyer's status, before advising their client to stop marketing their property.

FWIW, when selling, I've accepted offers, and when the EA does their checks, they find out the prospective buyers are just non-proceedable 'dreamers'.

[Deleted User]

"I've got an offer for you of asking price"

"Great, whats the buyers position?"

"They've sold to a private buyer"

"Is the buyer at the bottom a cash buyer? Or a first time buyer? Or is he buying after going through a divorce and there is a sideways chain of 9 properties that have to complete before he gets money to buy it?"

"Dont know, they wouldn't tell me"

"Yeah no problem, I'll pop to the solicitors and start the paperwork and spending money on my onward move when you have no idea who is in the chain and if they can actually buy it. Great idea"


For what its worth, im just annoyed as Ive had a chain collapse today where i was doing 2 mortgages in it, the private buyer at the bottom couldn't get a mortgage offer but without an agent no one had any way of communicating what was going on.
Private buyers are a nuisance in a chain

Every estate agent in a transaction should have full addresses, agent details, and solicitors details of everyone in the chain. A lot around me even gather all mortgage brokers involved as well.

Not providing the information just makes it look like you are not serious

ethank

I'm sorry but my property would not come off the market until such time as their is a mortgage valuation and any chain is proceedable.