Making an offer

[LiamD]

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

[LiamD]

Fair enough, I know there are a few dreamers out there, I just haven't had this with other properties I've been interested in, I've made and offer and it's been beaten by others

[LiamD]

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!

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!

[LiamD]

Thanks for all the info as well chaps!

[LiamD]

FrankAbagnale said:

Yup, my understanding is that any offer needs to be passed on within 24 hours.

Interesting, didn't know this! I'll send another email when I get home from work and see what happens.

[LiamD]

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?

[LiamD]

Bump.

After my offer was rejected, and two months of silence, I made a new offer and the EA has come back to me and said the vendor is not prepared to consider any offer until I have made an offer to be financially qualified, why on earth do I have to be qualified before I can even make an offer?

Does anyone think that if I pass them the contact info for the broker that would be acceptable? I work 12 hours nights shifts between 9pm-9am, by the time I am up they’re always closed, my only day off currently is a Sunday and they aren’t open then.

Who knew trying to buy a house would have to be so complicated :/

[LiamD]

ou sont les biscuits said:

It was explained above. The EA and the seller need to be sure that you are in a position to be able to buy if your offer is accepted. Most mortgage offers are time limited, so the one you had originally might need to be refreshed.

We're in a chain at the moment where the whole thing nearly fell apart because one of the people in the chain had a mortgage offer with an expiry date, which was before the date we could complete.

Edited by ou sont les biscuits on Saturday 21st October 10:57

Yeah, I understand what you’re saying, my issue is mainly I don’t agree I should show my hand, as another poster has mentioned, they will know how much I can offer and could play hard ball, I’m in a position where by I need to get moving with it, so I’ll be contacting them and seeing which info they need.

The house was originally up at 155k, I offered 135k based on a a bigger house in the same street; which had a new kitchen and bathroom selling for 148k. This was rejected, but I expected that and hoped there would at least be a dialogue opened!

The house has been reduced by 5k but I have offered 140k now, which is when they’ve come back to me with the financial qualification nonsense.

[LiamD]

BenjiS said:

You need to prove to them you've got 140 grand. How you do that is up to you, but would usually involved showing proof of deposit on a bank statement or similar, and a mortgage acceptance in principle for the rest. Without showing you can actually afford to buy it for what you're offering, you're not going to get anywhere.

Yeah, I understand that, it’s frustrating, as I don’t really recall my parents having there issues, maybe it’s an age thing? Or it’s changed since they last bought a property.

[LiamD]

I’ll be making calls first thing Monday as it’s my only day off in the next week or so

[LiamD]

I emailed the agent this morning and have been told what I need to provide, which is the usual ID, proof of deposit/address, also the original thing from this thread about them wanting me to sit down with their financial guy to find me a better deal was mentioned again