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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To not understand the implications of this? (Estate agents)

4 replies

Flossyfloof · 30/09/2014 12:57

Would be grateful for any advice/experiences please.
I have just viewed a property which is within my price range. Sadly, it is a deceased person's house, the agent told me that they are dealing with the sale for another company! He called it something like Move with Us. I need to confirm the name to try to find out a bit more about them. The second company is acting on instructions from a bank, so, he said, this bank must have a charge in the property. I don't know how unusual this is - does it make any difference to a purchaser? Anthing I need to know?
Also, and this is more worrying in a way - the property is up with two agents, the chap I spoke to said that they have been told to market for two weeks before accepting any offers, so there is no great hurry - but how would this work? Presumably, going with two agents means that they are keen to offload. My worry is that if I out in an offer, you don't know what is happening with the other agent, so someone could put in a higher offer which I could perhaps match or better - but if don't know about it I can't do that. I have never been in this position before so I don't know how this might work.
I don't think aibu to be concerned although I am sure it happens to agents all the time. If anyone has any advice or experience of this I would be grateful please.

OP posts:
financialwizard · 30/09/2014 13:02

Until recently I was a mortgage broker within an EA. MWU usually deal with repossessions so I would guess the deceased didn't have life cover and none of the family can afford to buy it, or want to.

I would ask the agent if there will be a 28 day exchange deadline because MWU normally insist on this. If you are getting a mortgage you must tell your broker the situation regarding deadlines or you may lose the property.

Also be aware that if it is a repo then if there is a higher offer prior to exchange then the agents are obliged to tell MWU.

financialwizard · 30/09/2014 13:02

Until recently I was a mortgage broker within an EA. MWU usually deal with repossessions so I would guess the deceased didn't have life cover and none of the family can afford to buy it, or want to.

I would ask the agent if there will be a 28 day exchange deadline because MWU normally insist on this. If you are getting a mortgage you must tell your broker the situation regarding deadlines or you may lose the property.

Also be aware that if it is a repo then if there is a higher offer prior to exchange then the agents are obliged to tell MWU.

ChickenFajitaAndNachos · 30/09/2014 14:35

I brought a new build last year and the builders brought my old house as part exchange. They must have then instructed move with us to act on their behalf as MWU instructed three estate agents to sell our house. The company seemed fine to me. The family that ended up buying the property put an offer on my old house in the normal way but instead of dealing with me they dealt with MWU.

Flossyfloof · 30/09/2014 16:13

Thanks very much both.

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