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AIBU?

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Original poster

Estate agent unreasonable?

91 replies

veuveo · 31/01/2018 11:00

Selling my house
First people to view bought it. They knew I hadn't found anywhere.
I had my offer accepted on a property within a week.
Estate agent has just told me he thinks it's a better idea if I sell my property without linking it up to my purchase.
WTF? WHY?
He said that Things move quicker in London, so my sale is likely to be ready before my purchase.
So they think it's reasonable to ask me to pack up a 4bed house without anywhere to move into.
I was quite reasonable on the phone with them but I'm furious now.

OP posts:
SusanBunch · 31/01/2018 11:41

Why is bridging finance not used in the UK?

It is but it is hideously expensive and would be a last resort for many.

NancyDonahue · 31/01/2018 11:45

It's not a stupid idea, and he only suggested it, you don't have to agree,

Selling and buying at the same time can be an absolute ball ache. We had a horrendous time with our buyer missing about, pressure from vendor, last minute demands, moving dates being constantly put back etc. If we decide to move again it would be a no brainer - we'd sell first and go into rental before buying.

stoneagefertilitydoll · 31/01/2018 11:47

You don't have to - mind you, we moved with a gap of 2 weeks once, so we packed everything up into pods, sent it to storage for 2 weeks while we stayed at my MILs (DP, me, 2 kids), then, at our leisure arranged for it to be delivered to the new house.

Given that (as usual) the people moving out of our house were still there at 3pm, it was very, very nice to not have a removal truck full of all our stuff waiting up the road, plus of course it meant that I could take my time packing and unpacking.

Honestly, it's actually a really nice way to move, if you can swing somewhere pleasant to stay in the middle bit.

stoneagefertilitydoll · 31/01/2018 11:48

Oh, and actually I think that having the house money in the bank for a couple of weeks, the interest actually covered the cost of storage!

sarahjconnor · 31/01/2018 11:48

This reply has been deleted

Message withdrawn at poster's request.

Abetes · 31/01/2018 11:49

Most people sell and buy on the same day. It’s not unusual. Just tell the estate agent that is what you are doing.

Bluelady · 31/01/2018 11:51

Ridiculous idea. Why would you want to move twice, pay dead money in rent and generally inconvenience yourself? Tell him to get stuffed.

Original poster
veuveo · 31/01/2018 11:57

So now the seller and my surveyor have declared a conflict of interest. So have to find another surveyor.
I knew it was going too smoothly!

OP posts:
NotSuchASmugMarriedNow1 · 31/01/2018 12:01

Whats the conflict of interest?

Piffle11 · 31/01/2018 12:04

Maybe the buyer is on his back about it and he's worried they are going to find something else - they may be sick of paying rent or staying with family and want to move quick - not your problem, I know. You sound like you know what you're doing re. selling houses, and if you're property is likely to get another offer if the worst happens and they do pull out, then stick to what's best for you. That's the risk we all take when we offer on a house where the seller is also waiting on their purchase. If the buyer pulls out then the agent will get nothing, so obviously they are ultimately thinking of what's best for them, too.

Bluntness100 · 31/01/2018 12:06

I don't get why you are "furious" were "unreasonable " or "need to vent" and saying he can "fuck off".

Seems an extreme over reaction to what is simply a suggestion. And one that many would consider. You don't want to do it, just say no.

If this sends you sky high, you're totally fucked due to what's to come.

FlashTheSloth · 31/01/2018 12:09

Starting to sound dodge I think!

I made it clear to my solicitors we weren't moving into rented for a couple of weeks. Buyer wanted to complete faster than our vendor could. Rented was mentioned a couple of times, all for the sske of 2 weeks, in the end I said "no we are not doing that, if it's an issue let me know and the house will go back on the market." They never mentioned it again.

Viviennemary · 31/01/2018 12:11

No. Just say no. And don't go round in circles giving reasons.

So you will sell your house and then house you are about to buy falls through for some reason or buyers decide to ask for more. Don't be the one to get caught in this trap.

TalkinBoutWhat · 31/01/2018 12:11

Mickeysminnie - the whole house purchasing procedure in the UK is sooo different to anywhere else in the world.

I suspect the main reason why bridging finance isn't used, is because of the very precarious nature of the purchasing process. An agreement to sell/purchase is not binding until shortly before moving day, or even right on moving day. Banks don't like that sort of uncertainty.

Whereas where I was from originally, if you make an offer on a property, you have a cooling off period of about 2 days and then the offer becomes legally binding. If you pull out you lose the deposit you put down with the agent, and you are also liable for the difference in the sale price of the property if it is subsequently sold for less than you were going to purchase it for. (Offer was usually made subject to 2 conditions - mortgage approval and satisfactory survey). And bridging finance is common.

Viviennemary · 31/01/2018 12:12

Meant sellers decide to ask you for more! I sympathise. What a stressful business.

DuncanDonut · 31/01/2018 12:13

I don't think it sounds dodgy, but it's sounding like your buyer might work for the estate agency you're selling through?

handyforpicnics · 31/01/2018 12:18

YADNBU. I was married to an estate agent, they will say anything if they thinks it's to their advantage.

Change agent now, and right from the start with them take no shit.

Idontdowindows · 31/01/2018 12:21

An agreement to sell/purchase is not binding until shortly before moving day, or even right on moving day. Banks don't like that sort of uncertainty.

Right, so there's also no "preliminary contract" with a fine built in if people drop out of the sale?

Quartz2208 · 31/01/2018 12:23

He just wants it to be quick so he can get his commission and walk away - dealing with a chain takes more time

And why would sales in London move quicker - yours is simply if they are first time buyers (which is sounds like) but other areas can move just as quick

And why would there be a conflict of interest that sounds odd

SusanBunch · 31/01/2018 12:26

An agreement to sell/purchase is not binding until shortly before moving day, or even right on moving day. Banks don't like that sort of uncertainty.

This is wrong. The agreement to sell is binding when you exchange contracts. This CAN be on the day of completion but is usually in advance. Also, you CAN get bridging finance from the bank, but it's expensive so people don't want to do it.

SusanBunch · 31/01/2018 12:28

Right, so there's also no "preliminary contract" with a fine built in if people drop out of the sale?

You can drop out of the sale up to the date of exchanging contracts. You need to do your preliminary enquiries before exchange because otherwise you will be bound.

Original poster
veuveo · 31/01/2018 12:29

Bluntness- yes I just didn't expect pressure from the estate agent quite this quickly. When I had a conversation just over a week ago about this very thing.

We are only a week in, there is absolutely no indication that my purchase will hold things up. And for them to suggest something at this stage that would be a huge inconvenience to me and possibly completely unnecessary is ridiculous.

Seems my sellers were previously estate agents and have had a professional run in with the surveyor.

OP posts:
MrGrumpy01 · 31/01/2018 12:30

Is it really such an outlandish piece of advice? We have 'sold' but not yet bought and the EA asked us if it was an option. We just said No. It hasn't been mentioned again.

Lweji · 31/01/2018 12:32

Ah, does your estate agent also know your sellers?

Cherrycokewinning · 31/01/2018 12:33

Just say no- they’re “only” estate agents. They do have a tendency to overstep the mark

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