Will! Posted January 7, 2015 Share Posted January 7, 2015 I was in a letting agent's office the other day signing a new lease when I overheard two EAs discussing whether a buyer's credit check would be clean or not. They were definitely discussing a buyer, not a tenant. The buyer had a mortgage agreed in principle with the Woolwich and the check was being done by the EA, not the bank. This was a fairly scummy low-rent (metaphorically, not literally) agent, not a high-end outfit. I've never encountered a buyer being given a credit check by an EA before. Has anyone else? Quote Link to comment Share on other sites More sharing options...
Jason Posted January 7, 2015 Share Posted January 7, 2015 Surely they were just speculating whether the buyer would be cleared for the finance or not. No way would the EA's credit check be relied upon by the solicitor or bank. Secondly, the EA has no right to credit check a buyer, unless the buyer agrees - but why would they! Quote Link to comment Share on other sites More sharing options...
Fully Detached Posted January 7, 2015 Share Posted January 7, 2015 I'd guess the EA is probably providing mortgage broker services, in which case the buyer surely must have consented to a credit check. Were the agents in question even remotely professional, they might have thought to have had the conversation out of earshot of other potential buyers. But since >80% of the agents I've met have been arrogant, ignorant arseholes, it's hardly a surprise that these two didn't. Quote Link to comment Share on other sites More sharing options...
Will! Posted January 7, 2015 Author Share Posted January 7, 2015 There seemed to be multiple prospective buyers involved. The only explanation I can think of is that it might be a way of identifying early any offers that won't be proceedable. Quote Link to comment Share on other sites More sharing options...
Will! Posted January 7, 2015 Author Share Posted January 7, 2015 I'd guess the EA is probably providing mortgage broker services, in which case the buyer surely must have consented to a credit check. Were the agents in question even remotely professional, they might have thought to have had the conversation out of earshot of other potential buyers. But since >80% of the agents I've met have been arrogant, ignorant arseholes, it's hardly a surprise that these two didn't. Good points. The EAs also commented that the prospective buyer whose credit check one of them had doubts about wasn't even making the highest offer, but was the vendor's preferred buyer. Quote Link to comment Share on other sites More sharing options...
Fully Detached Posted January 7, 2015 Share Posted January 7, 2015 It's equally likely that they stage these types of conversations all the time in front of other potential buyers to make it sound as though the market is hot hot hot. Once you'd left, they probably went back to arguing over whose turn it was to have a tug in the toilets over the shared copy of Razzle that they bought with last month's sales commissions. Quote Link to comment Share on other sites More sharing options...
juvenal Posted January 7, 2015 Share Posted January 7, 2015 It's equally likely that they stage these types of conversations all the time in front of other potential buyers to make it sound as though the market is hot hot hot. Once you'd left, they probably went back to arguing over whose turn it was to have a tug in the toilets over the shared copy of Razzle that they bought with last month's sales commissions. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.