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  • FIRST POST
    • The Palmist
    • By The Palmist 10th Feb 18, 5:32 PM
    • 708Posts
    • 290Thanks
    The Palmist
    EA doesn't like us speaking directly with Vendors
    • #1
    • 10th Feb 18, 5:32 PM
    EA doesn't like us speaking directly with Vendors 10th Feb 18 at 5:32 PM
    Exactly a week ago we had (or thought) an offer accepted, it was basically the asking price with a few bits of furniture thrown in. EA stressed that they need to see AIP, ID and Proof of Deposit.

    Part of deposit if from my parents who are abroad.

    Within a week we had engaged a solicitor, confirmed Santander to progress with mortgage and got EAs around for rental evaluation for our current home.

    The vendors have been really nice and we have kept in touch over email, they were happy to answer any queries and usually reply promptly.

    The EA called me today to say that I shouldn't be going ahead with survey as they haven't formally agreed to sell the property to me and they have another viewing today. They said they will not take it off market till they see funds for deposit, I explained that it will take a week or so for international transfer but they are happy to accept copies of parents account, I then sent them copies of account where the money is and they said they will continue with the viewing today and follow up on Monday.

    I see the point of doing so and on Monday I am thinking of firmly asking for the property to be off market, will that be an acceptable thing to do?

    Also the EA mentioned few times that I should not be emailing vendors as they are busy or going to hospital etc. which got me thinking that maybe there is something going on. The vendors were the ones to exchange email address and have never indicated any concern with us speaking directly. I wanted to say that email communication is the least invasive and the vendors are under no obligation to reply but my good nature stopped me from doing so.

    House buying is rather stressful so I accept if I am just being paranoid.

    Last week the EA mentioned that there has been two other offers but both buyers had property to sell before they could proceed.

    We are in a good position to proceed and the next best buyer will be a cash buyer , even with international money transfer we will still be quicker than anyone who has a house to sell.

    Have I annoyed EA by communicating direct with vendors.
    Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp
Page 1
    • JoJo1978
    • By JoJo1978 10th Feb 18, 5:51 PM
    • 342 Posts
    • 423 Thanks
    JoJo1978
    • #2
    • 10th Feb 18, 5:51 PM
    • #2
    • 10th Feb 18, 5:51 PM
    Probably you have, but if your vendors have provided their contact details then I'd take that as a signal that they're ok with it. Perhaps just preface the next email with a quick check 'is it still ok... etc'

    From the EAs perspective because the property is still being marketed it would be easier for them if they were the go between for all prospects. Perhaps they are working on a % and are hoping for a higher offer to come in - if you are in direct contact with the vendor they perhaps fear it will be less easy for the vendors to reject your current offer if that happens.

    We were in direct contact with our vendors and it was really helpful, but it happened much later in the process after survey all done etc. Also the EA was fine with it in that case, it saved them phone time for a pretty dead cert deal.

    The other experience we have was less good. We offered on a house last year and it was accepted, negotiated by the EA. Unbeknownst to them the vendor was in direct contact with a previous viewer (different EA.) Vendor texted her and she gazumped us. The EA was caught totally unaware by that too
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Part-time gigger and charity volunteer 2018
    • Thrugelmir
    • By Thrugelmir 10th Feb 18, 6:05 PM
    • 58,196 Posts
    • 51,567 Thanks
    Thrugelmir
    • #3
    • 10th Feb 18, 6:05 PM
    • #3
    • 10th Feb 18, 6:05 PM
    We are in a good position to proceed and the next best buyer will be a cash buyer , even with international money transfer we will still be quicker than anyone who has a house to sell.
    Originally posted by The Palmist
    Not clear what the position is with your current property. Is it currently mortgaged?

    The vendors have been really nice and we have kept in touch over email, they were happy to answer any queries and usually reply promptly.
    Keeping the EA in the loop is the best way of keeping everyone informed in the process.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • The Palmist
    • By The Palmist 10th Feb 18, 6:46 PM
    • 708 Posts
    • 290 Thanks
    The Palmist
    • #4
    • 10th Feb 18, 6:46 PM
    • #4
    • 10th Feb 18, 6:46 PM
    Not clear what the position is with your current property. Is it currently mortgaged?



    Keeping the EA in the loop is the best way of keeping everyone informed in the process.
    Originally posted by Thrugelmir
    No chain and no property to sell, we will be putting ours on rent and do not need to have tenants in order to proceed although it will make financial sense to time it all accordingly.

    Our questions were mainly regarding house local schools area etc. all business type questions and negotiation have been through EA.

    Is it unreasonable to ask for the property to be off market.
    Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp
    • chanz4
    • By chanz4 10th Feb 18, 6:56 PM
    • 9,922 Posts
    • 2,887 Thanks
    chanz4
    • #5
    • 10th Feb 18, 6:56 PM
    • #5
    • 10th Feb 18, 6:56 PM
    I wouldn't take off, until exchanged
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
    • The Palmist
    • By The Palmist 10th Feb 18, 6:58 PM
    • 708 Posts
    • 290 Thanks
    The Palmist
    • #6
    • 10th Feb 18, 6:58 PM
    • #6
    • 10th Feb 18, 6:58 PM
    I wouldn't take off, until exchanged
    Originally posted by chanz4
    Is that the norm?

    Doesn't help buyers who could be making commitment to selling ..paying advance survey and solicitor fees etc.
    Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp
    • societys child
    • By societys child 10th Feb 18, 7:22 PM
    • 5,188 Posts
    • 5,719 Thanks
    societys child
    • #7
    • 10th Feb 18, 7:22 PM
    • #7
    • 10th Feb 18, 7:22 PM
    It also doesn't help the vendor when the 'buyer' pulls out because they go with one of the other offers they've made, and they have to re-market all over again.

    • Margot123
    • By Margot123 10th Feb 18, 7:22 PM
    • 803 Posts
    • 812 Thanks
    Margot123
    • #8
    • 10th Feb 18, 7:22 PM
    • #8
    • 10th Feb 18, 7:22 PM
    Is that the norm?

    Doesn't help buyers who could be making commitment to selling ..paying advance survey and solicitor fees etc.
    Originally posted by The Palmist
    It's not something I've ever heard of.
    I'd never commit to a purchase if the property was still up for the highest bidder.
    No certainty until the very last minute. What buyer accepts that?
    • The Palmist
    • By The Palmist 10th Feb 18, 7:37 PM
    • 708 Posts
    • 290 Thanks
    The Palmist
    • #9
    • 10th Feb 18, 7:37 PM
    • #9
    • 10th Feb 18, 7:37 PM
    It's not something I've ever heard of.
    I'd never commit to a purchase if the property was still up for the highest bidder.
    No certainty until the very last minute. What buyer accepts that?
    Originally posted by Margot123
    Exactly my thoughts, although I have very little to loose but wouldn't want the stress and I think on principle I will be asking for the property to be taken off market. I have done everything EA has asked for.
    Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp
    • Thrugelmir
    • By Thrugelmir 10th Feb 18, 7:44 PM
    • 58,196 Posts
    • 51,567 Thanks
    Thrugelmir

    Is it unreasonable to ask for the property to be off market.
    Originally posted by The Palmist
    Until you've proven to be proceedable then I wouldn't personally.

    Others are viewing knowing the offer on the table. They might offer higher.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • The Palmist
    • By The Palmist 10th Feb 18, 7:56 PM
    • 708 Posts
    • 290 Thanks
    The Palmist
    Until you've proven to be proceedable then I wouldn't personally.

    Others are viewing knowing the offer on the table. They might offer higher.
    Originally posted by Thrugelmir
    Proof of funds shown
    Mortgage not only AIP but full application going ahead
    Solicitor appointed
    No property to sell

    I don't think I can provide anything else. I am going to insist on property being off market next week. While we would absolutely want this property, at this moment in time it is still a business transaction for me.
    Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp
    • Lokolo
    • By Lokolo 10th Feb 18, 8:20 PM
    • 19,968 Posts
    • 15,096 Thanks
    Lokolo
    Proof of funds shown
    Mortgage not only AIP but full application going ahead
    Solicitor appointed
    No property to sell

    I don't think I can provide anything else. I am going to insist on property being off market next week. While we would absolutely want this property, at this moment in time it is still a business transaction for me.
    Originally posted by The Palmist
    Yes but you should have made it as part of the offer.

    "I will offer x. Upon proving I am in a proceedable position by show of AIP and deposit the property will removed, or show as STC on Rightmove, Zoopla and EA website, should my offer be accepted."
    • The Palmist
    • By The Palmist 10th Feb 18, 8:35 PM
    • 708 Posts
    • 290 Thanks
    The Palmist
    Yes but you should have made it as part of the offer.

    "I will offer x. Upon proving I am in a proceedable position by show of AIP and deposit the property will removed, or show as STC on Rightmove, Zoopla and EA website, should my offer be accepted."
    Originally posted by Lokolo
    Good point, I am going to use the exact same words on Monday.
    Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp
    • Thrugelmir
    • By Thrugelmir 10th Feb 18, 10:37 PM
    • 58,196 Posts
    • 51,567 Thanks
    Thrugelmir
    Proof of funds shown
    Originally posted by The Palmist
    The funds aren't in the UK yet though. AML checks will need to be performed as the money is coming from overseas. How much is the gifted deposit?
    Last edited by Thrugelmir; 10-02-2018 at 10:40 PM.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • Asl77c
    • By Asl77c 10th Feb 18, 11:15 PM
    • 51 Posts
    • 31 Thanks
    Asl77c
    The funds aren't in the UK yet though. AML checks will need to be performed as the money is coming from overseas. How much is the gifted deposit?
    Originally posted by Thrugelmir
    I would agree with this. All you have done is show funds in a bank account of someone else, albeit your family member. Proof of funds will be funds in a bank account of your name. All well and good saying you have got a solicitor you would like to use but they cannot be instructed until a memorandum of sale is produced so that is immaterial that you have gone and got that sorted. Once you can show YOU have the funds in your account then they would likely take it off the market, until then it isn't abnormal to keep viewings going on. You could ask for a 2 week grace period to stop marketing of the property to allow you to get the funds transferred but being that they havent done it for you already seems they are happy to see if anyone else comes along regardless of their nicey nice emails back and forth. It isn't upto the EA to take it off the market its upto them as a vendor so no matter how nice they are to you they clearly want to keep marketing the property.
    • The Palmist
    • By The Palmist 11th Feb 18, 12:07 AM
    • 708 Posts
    • 290 Thanks
    The Palmist
    Fairenough but AML checks are for solicitor to do though not EA.

    And it was EA who said proof of funds in offshore account will be fine along with gifted deposit letter.

    Good to know it is not normal and maybe I can hold my hours till the monies are in UK which is a matter of days.
    Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp
    • PhilE
    • By PhilE 12th Feb 18, 12:13 PM
    • 280 Posts
    • 180 Thanks
    PhilE
    Welcome to the world of dealing with EA's.

    Show proof of funds, and tell them that if the property isn't shown as 'under offer,' by the end of the day you will be withdrawing your offer.

    Once conveyancing starts, it should be listed as 'sold, subject to contract.' Again, tell them they have till the end of the day to make this happen, or your offer is withdrawn.

    Have a read of this,
    https://www.gov.uk/buy-sell-your-home/estate-agents

    If the EA try any funny stuff, remind them of their obligations. Don't let them push you around about anything. They act like the law, they are not.
    • Surrey_EA
    • By Surrey_EA 12th Feb 18, 12:25 PM
    • 1,484 Posts
    • 1,892 Thanks
    Surrey_EA
    Fairenough but AML checks are for solicitor to do though not EA.
    Originally posted by The Palmist
    I am afraid that is no longer the case.

    EAs are now required perform AML checks on buyers, in addition to the solicitor.

    https://www.gov.uk/government/consultations/money-laundering-regulations-2017/money-laundering-regulations-2017#estate-agent-businesses
    Last edited by Surrey_EA; 12-02-2018 at 1:12 PM.
    • Surrey_EA
    • By Surrey_EA 12th Feb 18, 12:27 PM
    • 1,484 Posts
    • 1,892 Thanks
    Surrey_EA
    Welcome to the world of dealing with EA's.

    Show proof of funds, and tell them that if the property isn't shown as 'under offer,' by the end of the day you will be withdrawing your offer.

    Once conveyancing starts, it should be listed as 'sold, subject to contract.' Again, tell them they have till the end of the day to make this happen, or your offer is withdrawn.

    Have a read of this,
    https://www.gov.uk/buy-sell-your-home/estate-agents

    If the EA try any funny stuff, remind them of their obligations. Don't let them push you around about anything. They act like the law, they are not.
    Originally posted by PhilE
    EAs are employed by the seller, from whom they take their instructions.
    • PokerPlayer111
    • By PokerPlayer111 12th Feb 18, 12:42 PM
    • 243 Posts
    • 85 Thanks
    PokerPlayer111
    EAs are employed by the seller, from whom they take their instructions.
    Originally posted by Surrey_EA
    Reread what he wrote ya flaming anarchist. EA have obligations based on gov law, thats what you signed up for like it or not.

    I have obligations in my business to take returns on items like it or not for me.
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