EA asking buyer to pay for ID/AML checks

Grumpy_chap

I always thought that the ID/AML was down to the Solicitors.  Others have suggested that the EA also has a responsibility.

However, the EA's Client is the Vendor, not the Purchaser. 
I would say that it is for the fees already charged by the EA to cover the costs. 
The EA is there to work for the Vendor and do their best to get the sale and the best price for the Vendor. 
By trying it on with the OP to pay this fee, the EA is not working in the best interests of the Vendor.  It also creates a potential conflict of interest as the EA has two Clients linked to the same transaction.

If I were the OP AND I was able to contact the Vendor (note through the door), then I would communicate appropriately that a reduction is required to meet the £75 fee.  Assuming, of course, the fee was advised by the EA in writing, otherwise the EA would just brush it aside as a misunderstanding if the Vendor queried the situation.

I note that the OP cannot communicate with the Vendor.

In this case, the OP needs to assess how real they think it is there are other Buyers waiting in the wings, how much has already been invested in the property.  Then conclude that £75 is not much in the scheme of things and reluctantly pay it.

I do think the EA is being outrageous though.

RedRaccoon

Thank you all for your input; it has been incredibly valuable to gain different perspectives.

BobT36

ANOTHER instance of Rip Off Britain.. 
Tell them to shove it. 

Robbo66

Angepet said:

We've just bought and simply provided EA with ID and bank statements at no charge. Solicitor did checks via credas for which we were charged. Be better if this was uniform across yhe industry.

Then the agent you bought from didn't do as the legislation requires, simply taking copies of bank statements and I.D isn't doing an AML check. Not doing it correctly can mean huge fines. Have a look at this article it explains the actual process agents need to follow  
https://www.estateagenttoday.co.uk/features/2022/2/insight--an-estate-agents-guide-to-aml

SadieO

Robbo66 said:

Angepet said:

We've just bought and simply provided EA with ID and bank statements at no charge. Solicitor did checks via credas for which we were charged. Be better if this was uniform across yhe industry.

Then the agent you bought from didn't do as the legislation requires, simply taking copies of bank statements and I.D isn't doing an AML check. Not doing it correctly can mean huge fines. Have a look at this article it explains the actual process agents need to follow  
https://www.estateagenttoday.co.uk/features/2022/2/insight--an-estate-agents-guide-to-aml

How do you know the agent didn't go through that process? From the article it seems that the agent needs to run the buyer's details through various checks, which they would do once they had recieved their ID and bank statements. Unless I am missing something there is nothing to suggest due process wasn't followed, it's just that the agent might not have actually informed the buyer that they were doing so??

Olinda99

the agent did to do as a legislation required - if you read my post above you will see a  link to the government requirements and if it is just a normal person like you and me then all they need is a drivers licence or passport and bank statements to fulfill their kyc requirements

full £75 aml checks only need to be done if the purchaser is from a country that is flagged or a poltically exposed person etc etc

If ot were me I would reduce my offer by the amount the EA is asking

pattyb1986

Sorry to open up again, I’m buying a property and have been contacted by the sellers EA legal firm (Lifetime legal) asking for £80 to do compulsory AML/ID check. Any latest on this? I’ve been told that sale cannot go through unless I comply.  Can I get these done independently and send to EA? 

user1977

Nothing has changed since the thread started. Tell the EA you'll happily do the checks at their clients' expense.

pattyb1986

We’ve actually met the sellers and they’re a lovely elderly couple who are downsizing. Don’t really want to inconvenience them if we can help it - is it possible to get own independent check? 

user1977

pattyb1986 said:

We’ve actually met the sellers and they’re a lovely elderly couple who are downsizing. Don’t really want to inconvenience them if we can help it - is it possible to get own independent check? 

Yes, but not much point if the EA doesn't accept it (which they don't have to).

It shouldn't be an "inconvenience" or even something which the sellers ought to be aware of -  it's an overhead which the EA ought to be accounting for in their feeing structure like (pretty much) everybody else does rather than trying to gouge it out of you. And doesn't really cost £80 anyway.