Making an offer
Discussion
I have seen/viewed a property and would like to make an offer, the estate agent are trying to get me to go in for an "offer check"
It seems they want to find out who I'm looking at getting a mortgage with, and they also want to help me with a solicitor, I've already been speaking with a mortgage broker, and my mates dad is a conveyancing solicitor.
I don't feel like I should be forced to waste my time (and theirs) by going in for this chat when I don't even know if my offer will be accepted...
Is this the norm for buying a property? I'm a first time buyer with no real clue as to what to expect
It seems they want to find out who I'm looking at getting a mortgage with, and they also want to help me with a solicitor, I've already been speaking with a mortgage broker, and my mates dad is a conveyancing solicitor.
I don't feel like I should be forced to waste my time (and theirs) by going in for this chat when I don't even know if my offer will be accepted...
Is this the norm for buying a property? I'm a first time buyer with no real clue as to what to expect
If it involves going in to their offices, I wouldn't bother, just email them the information. There is also the chance they may want to pass you on to their own mortgage broker..
See also https://www.pistonheads.com/gassing/topic.asp?h=0&...
See also https://www.pistonheads.com/gassing/topic.asp?h=0&...
The "offer check" is a way to get you in to their offices so they can sell you their own services from mortgages to solicitors.
They often aren't the best providers but do earn the agency referral fees.
My advice is to take recommendations from friends/family of local solicitors and mortgage brokers and use them.
In my experience, the vast majority of the services offered at the "offer check" meeting are completely substandard. It wouldn't surprise me if they tell you that your offer is stronger if you use their services - this isn't true. It's a sales pitch to make you use their services.
Good luck!
They often aren't the best providers but do earn the agency referral fees.
My advice is to take recommendations from friends/family of local solicitors and mortgage brokers and use them.
In my experience, the vast majority of the services offered at the "offer check" meeting are completely substandard. It wouldn't surprise me if they tell you that your offer is stronger if you use their services - this isn't true. It's a sales pitch to make you use their services.
Good luck!
montecristo said:
If it involves going in to their offices, I wouldn't bother, just email them the information. There is also the chance they may want to pass you on to their own mortgage broker..
See also https://www.pistonheads.com/gassing/topic.asp?h=0&...
They want me to pop in to the offices, like most, I have better things to do with my time than be try and forced to speak to their mortgage advisors (they are owned by a building society) or use a solicitor they get commission from, I'd rather give the business to a family friend!See also https://www.pistonheads.com/gassing/topic.asp?h=0&...
I've emailed them, if I can put an offer in and it's accepted then I have no issue proving I can get the mortgage etc
Frustrating!
Email your offer and be completely clear in the email with all the relevant info.
Name - Mr Bloggs
Property address - Of viewed property
Offer amount - £300,000
Funding - Mortgage approved in principle
Mortage Broker - Name, Address and contact here
Chain - under offer or no chain etc
Timeline for exchange/completion - 6 weeks with completion in September (flexible)
Solicitors - Solicitors info here
N.B - Just seen you've emailed them. But the above isn't a bad template for an email offer for other PH'ers future reference.
Name - Mr Bloggs
Property address - Of viewed property
Offer amount - £300,000
Funding - Mortgage approved in principle
Mortage Broker - Name, Address and contact here
Chain - under offer or no chain etc
Timeline for exchange/completion - 6 weeks with completion in September (flexible)
Solicitors - Solicitors info here
N.B - Just seen you've emailed them. But the above isn't a bad template for an email offer for other PH'ers future reference.
FrankAbagnale said:
The "offer check" is a way to get you in to their offices so they can sell you their own services from mortgages to solicitors.
They often aren't the best providers but do earn the agency referral fees.
My advice is to take recommendations from friends/family of local solicitors and mortgage brokers and use them.
In my experience, the vast majority of the services offered at the "offer check" meeting are completely substandard. It wouldn't surprise me if they tell you that your offer is stronger if you use their services - this isn't true. It's a sales pitch to make you use their services.
Good luck!
Exactly this!They often aren't the best providers but do earn the agency referral fees.
My advice is to take recommendations from friends/family of local solicitors and mortgage brokers and use them.
In my experience, the vast majority of the services offered at the "offer check" meeting are completely substandard. It wouldn't surprise me if they tell you that your offer is stronger if you use their services - this isn't true. It's a sales pitch to make you use their services.
Good luck!
And if memory serves Frank is a good person to give opinions in this field................
The new money laundering rules mean that buyers are going to get asked even more annoying questions by estate agents when they put offers forward (or before an offer is accepted, depending on how you read the rules).
Another glorious waste of time and effort, but the government have decided that 'something must be done'.
Another glorious waste of time and effort, but the government have decided that 'something must be done'.
Inkyfingers said:
The new money laundering rules mean that buyers are going to get asked even more annoying questions by estate agents when they put offers forward (or before an offer is accepted, depending on how you read the rules).
Another glorious waste of time and effort, but the government have decided that 'something must be done'.
Not come in to play just yet, but it isn't long until this happens. We already need to get anti money laundering information from sellers and as you've said it'll be buyers soon.Another glorious waste of time and effort, but the government have decided that 'something must be done'.
It's a bit of a minefield, the fines are huge for non compliance and I am a little concerned some of our staff won't get to grip with the complexities soon enough.
Edited by FrankAbagnale on Monday 31st July 14:15
LiamD said:
Interesting, didn't know this! I'll send another email when I get home from work and see what happens.
EA here, yes it absolutely does need to be relayed, by law.Luckily I work for an agency which doesn't require me to try to steer people towards sub optimal lenders for their needs, or useless solicitors who won't do a proper job for you. Buying a property is very stressful and people should be guided and advised, rather than shepherded in this manner. Grinds my gears.
As the wise posters above have said, send offer clearly in writing with details of your broker (if you have one) and your proposed solicitor. If the agent protests, just speak to the property ombudsman posthaste who will only be too delighted to have a chat with them on your behalf.
Alucidnation said:
I think its more down to the fact of back handers if they can get you to use 'their' services.
This is the feeling I got, right from the first phone call I made about the property, mentioning they were owned by a building society so that gives them better access than brokers etc.I've had an email back regarding the process, and they're full of contradictions, saying before an offer can be accepted thy need, AIP, proof of deposit, ID, solicitor confirmation; yet when I rang him he's said I can make an offer and go from there.
I just want to open a dialogue with the vendor and see what we can agree on before I have to go and listen to some sales bull about why their solicitor/mortgage advisors are the best.
I will be writing the email later and sending it off, I expect it to be laughed out, but god loves a trier, right?
I viewed about 30 properties, offered on about 5, only one wanted me to do this
I made it perfectly clear I don't need advice or extra services before I went
Telling them your dad / son is a financial adviser and your sister in law, friend etc is a conveyancer really puts em off wasting their time
They are totally full of ste.
I guess it's good system if you can send proof, but mine insisted I went it. Tits
I made it perfectly clear I don't need advice or extra services before I went
Telling them your dad / son is a financial adviser and your sister in law, friend etc is a conveyancer really puts em off wasting their time
They are totally full of ste.
I guess it's good system if you can send proof, but mine insisted I went it. Tits
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