Annoyed at estate agent and my offer situation

[Fmlgirl]

Hi there,

I was wondering if one of you lovely ladies could give me some advice.

We made an offer on a flat that was accepted that I now feel like retracting:

I asked the estate agent to take the flat off the market, appointed a solicitor and offered to instruct the survey. The estate agent then asked us to come into the branch today to "qualify our offer" and speak to their mortgage advisors which we knew was going to be a sales pitch all along since we already have an agreement in principle with a bank. They said that in order to take the flat off the market we would need to see this guy, bring our API and show our proof of funds (most from a gifted deposit from my mum in law).

We brought in our API, a stamped (from the bank) copy of my mum in laws ISA book, bank statements, payslips, ID from us and our mum.

When they saw my mum-in-laws ISA book copy they said that they didn't like that her name was on one side and the funds were on the other side of the page, both sides were stamped by Nationwide though . They said that on the basis of this they couldn't take the flat off the market and need a proper statement.

They also now said that usually you'd have to book in a survey to have the place taken off the market which I offered last week but never heard back from the estate agent about this.

The gifted deposit is a red herring really, as we have savings ourselves and our AIP is for 100k more than the flat is worth. I
Also told them that we could easily pay for a deposit out of our own savings.

I feel annoyed that they made me come into branch on a pretense, saw that we are very proceedable buyers but still won't take the flat off the market.

I also noiticed while we were there that when they were talking on the phone to other interested buyers they said things like "the property has an offer but I'm going to ask the vendor", probably about viewings.

The whole communication process with the agent was very bad, the viewings were abysmal too and the guy just couldn't be bothered.

Would you just retract your offer? I do like the property a lot.

But have you actually proved you have the funds to them? If I was selling a house I would expect the estate agents to ensure the buyers were proceedsble before I’d take it off.

This. I'm a financial adviser and advise on mortgages as well. I'm not an EA in house mortgage broker but am connected to a local EA (not the big chain nationwide type).

I financially verify but if the applicant has a mortgage in place I offer a second opinion only. No obligation. Some take it up, some don't. Their choice. I DO NOT pressurise (promise!)

However, a lot of houses go under offer whereby applicants haven't sorted anything prior. This is where a lot of sales fall through and the EAs client is the vendor, not the applicant. Hence it is sensible to ensure these sales are viable to avoid wasting everyone's time and disappointment for vendors.

However, some of the stories above leave me cold....no need to be pushy like that and as it is absolutely clear, IT DOES NOT WORK!

OP if you've got an AIP/DIP in place there's no need to see their broker. Just show it to the EA?

With someone like you the EA I'm connected to asks permission from you for me to verify you (explaining why it's sensible) then it's a quick phone call from me. There is no demanding like you've endured. They are doing themselves no favours.

Sorry just re read you've done that already. In my professional opinion that's a disgrace and they're not working for their client, the vendor.

What happens if you see the broker then don't take his advice? Beggars belief!! What a waste of time all around

NotARegularPenguin offered to show our other savings, they weren't interested.

I also tried to book in the survey last week but they weren't interested in that either after they told me that the vendor wanted us to move quickly.

Them/the vendor clearly just want to get more viewings in as he (apparently) begrudgingly took our offer although he wanted 5k more. We already upped our original offer twice by then though and met in the middle.

Well I would return and show them proof of the other savings whether they’re interested or not. Then they can’t say that you haven’t.

Is the flat owner occupied? I would just go knock on their door and say that their estate agents are wasting your time but you really like the property and all the if it is ok for their solicitor to deal with yours directly.

Furano this happened to me 20 years ago. I wouldn't touch Douglas Allen with a Bargepole ever again.

To those saying EAs want proof of a buyer's financial position, I had a written Mortgage in Principle and they said it wasn't enough.

Hi numptynuts,

Sorry only just saw your answer.

Yes it's a lot of jumping through hoops.

I am not going to forge my mum-in-laws ISA statement. She's 73 and only used the book so far as she is not that confident digitally. We have requested the statements in the post now but it seems silly. I just feel treated like a criminal.

Sorry, what I meant to say is, I feel like they are saying we have forged my mum-in-laws statement or something along those lines just because they weren't happy with the format.

My sister used to work for DA.... Omg... the stories. Thankfully she works for a smaller, more ethical EA, however she said it wasn't unusual for backhandets to be paid.

As for Connells... wouldn't touch them with a barge pole. When we were house hunting, we made an offer at asking price (who were selling through Connells). EA phoned up..
"They reeeaaallly want to sell, but, can you do just 5k more? Just 5k? That will help them move.... "

We upped it.

EA then came back and said "so great you can increase, thing is... they reaaaaallly need 5k, just another 5k, just another 5k"

We said no and ended all conversations.... house didn't sell and we heard that the seller's were frustrated they had not had any offers.....

When my dd was buying her first house - in a hurry because she was in expensive, inconvenient short-term rented - she was put under pressure to use the EA's mortgage advisor. She did see him - and then found exactly the same deal online for a couple of hundred less in fees. ,
She told him, and he immediately offered to match it. Always worth a try...

Had a very similar situation a few months ago. We said that if they won't take the property off the market, the deal is over (and we meant it). Within a few hours, the property was off the market and the agent was calling me three times a day to confirm that we are now ready to go ahead Another way is to tell the owners - if they still live in the property, shouldn't be hard.

We were pressured into seeing the EA in house broker and was told it was a 2 hour appointment -I refused on the basis that we had a broker, I put him in touch with the EA and authorised him to provide what they needed. Funnily enough one short phone call from him and we no longer needed a two hour appointment with the EA....

Sorry bit old but what do they do, can you share things please or tactics they use?