House selling, when to take off market?

[Al1944]

Can an estate agent force me to use their firm's finance adviser?

I tried to make an offer on a home, but the agent said they would only present it to the vendor if I used their in-house finance adviser first. I refused as I have finance secured. Can they really hold back my offer?

www.thisismoney.co.uk

 

[TCR4x4]

Unfortunately some people seem to have a head full of magic and don't have the money to back up their tastes in property. At least an agent who vets potential buyers' ability to afford what they're wanting to view should help screen out some of the total timewasters and dreamers. Last time I moved house the agent vetted my ability to afford what I wanted to view. As I'd sold my house, was living in rented accommodation and had the cash in the bank I was seen as the ideal purchaser and given red carpet treatment.

So are saying here people shouldn’t have mortgages essentially?

Must be nice sitting in your gold tower with all that money around you.

 

[Mr Badger]

So are saying here people shouldn’t have mortgages essentially?

Where did you get that idea from? That's not what I said at all. Vetting a potential buyer's ability to proceed with the purchase doesn't exclude mortgage buyers, it simply makes sure they can actually afford the property, whether that's using a mortgage, a bridging loan or other such finance is immaterial, as long as they have some proof the money is actually available. Such financial vetting is there to protect the agent and the vendor from timewasters, and I'm all for that. It's a pain in the neck having to run round the house to make sure it's all clean and tidy before a viewing, not to mention giving up time to show people round, and the fewer times I have to do that the better!

With good financial vetting in place, when you do get a viewing you're fairly sure it's from someone who can actually afford what they're looking at, and that the agent has done something to establish that they are genuine potential buyers and not tyre kickers... or burglars casing their next target!