What Some Agents Don’t Want to Tell You About Proof of Funds
Big congrats. You’re in the market to buy a new home. Here’s what you need to know about proof of funds and when you really need it.
What is proof of funds?
Proof of funds is some evidence, ideally in writing, that you can afford to buy the house or flat you’ve got your eye on.
What proof is normally accepted?
These are usually fine, although there are no concrete rules:
* A mortgage offer in principle (or MIP) from your bank or building society.
Off-Market Property Sales: When “Discreet” Could Cost You £££££s
“Off-market” selling of a home sounds sophisticated. Private. Exclusive. The sort of thing many homeowners assume wealthy or well-connected sellers do.
But in reality, an off-market sale can either be a sensible strategy that protects a seller’s privacy… or a decision that quietly costs them a substantial amount of money.
The important thing is understanding the difference before agreeing to it.
First, it helps to understand what “off-market” actually means.
Some properties are never advertised publicly on portals like Rightmove or Zoopla. Others are … Continue Reading…
Why Your First Two Weeks on the Market Are Crucial
Why the Early Days Matter
Speak to almost any experienced estate agent, and they will tell you the same thing: the first two weeks after a property launches are usually the most important part of the entire sales process.
What happens during that period can have a huge influence on the final sale price, the level of buyer interest and how smoothly the move progresses from there.
When your home first appears on the major property portals, it is immediately pushed to buyers … Continue Reading…
Is Your Landlord Insurance Actually Covering You?
The auto-renewal trap
Many landlords take out insurance when they first let a property and then barely look at it again.
The policy renews, the premium gets paid, and life moves on, which is understandable.
But it’s worth asking whether that policy still reflects your situation or ever fully covered you in the first place.
Standard home insurance won’t cut it
If you’re letting a property covered only by a standard buildings or contents policy, and you haven’t told your insurer it’s tenanted, you may … Continue Reading…
May Market Update
The housing market is still fragile due to global unrest and political uncertainty at home which has restricted confidence. Although the situation in the Middle East hasn’t deteriorated over the last month, a permanent solution has not yet been agreed so the price of oil remains high putting pressure on many global economies including the UK. The cost of living is a genuine concern for many potential house movers.
The result of the local Council Elections has mounted pressure on the … Continue Reading…
A Fair Landlord’s Deposit Defence
Many landlords assume a tenant’s deposit automatically covers damage.
In reality, if a dispute reaches adjudication, the landlord usually has to prove the claim.
No evidence often means no deduction.
That’s why good check-ins matter so much.
The landlords who tend to succeed in disputes usually have:
✔ Clear, dated photographs
✔ A detailed signed inventory
Wide-angle room photos, close-ups of existing marks, appliance interiors, gardens and meter readings can all make a huge difference later.
And this protects good tenants, too.
Clear records prevent tenants from being blamed … Continue Reading…
From Love Rats to Rogue Buyers: Why the Right Agent is Your Best Defence
You might think that estate agents just sell houses. But there’s much more to it than that.
When you’re selling your home, a good estate agent will look out for your interests every step of the way.
A recent story in the press reminded us just how important it is to have a real duty of care to our customers.
Estate agents in Cambridge smelt a rat when a lady approached them to sell her home, then told them she was moving to … Continue Reading…
A Warning Letter for Local Sellers
If your home is on the market, chances are an uninvited letter/postcard/comp slip will drop through your letterbox sooner or later.
It often is made to look urgent and personal, from an agency you haven’t instructed, telling you to act quickly.
It usually carries words to the effect of: “I believe I have a buyer for your home. Please give me a call.”
These “we’ve a ready buyer” notes are delivered to homes already listed with another estate agent.
For the record, there’s nothing … Continue Reading…
Do Some Landlords End Up with the Letting Agent They Deserve?
For years, landlords have been told to focus on one thing above all else when choosing a letting agent: fees.
Whose is the cheapest? Who’ll manage the property for less? Who’ll promise the highest rent?
And too often, that mindset leads landlords straight towards the service they later complain about.
Because the uncomfortable truth is this: some landlords get the letting agency they deserve.
If your only priority is driving fees to the absolute minimum, you may end up cutting corners elsewhere. Good property … Continue Reading…
Yes, We’re Estate Agents, But We Love NOT Selling Homes (Sometimes)
Some people think estate agents are pushy. And that they don’t care about what you buy as long as you buy it from them.
But when you house hunt with an Ethical Agent Network member, that’s further from the truth than Pluto is from the Sun. (Around 3.7 billion miles give or take a few million.)
It’s true that estate agents work for the seller.
That doesn’t mean we’re not passionate about helping the buyer, too. We most definitely are.
We want to help … Continue Reading…