Is An Estate Agent Out Of Order Revealing My Financial Situation To The Vendor

[j4n3tt3]

I put an offer in on a flat (my deposit for their inheritance) for my children. The estate agent made it clear there were no offers on it but there was others coming to look at the weekend. He then phoned me today to say that because of our financial situation (the amount of deposit I was putting down and how much would be mortgaged) that the vendors were going with another offer they'd just had. I hadn't even spoken to this estate agents financial adviser. I did question what our financial situation had to do with anything that all the vendor needed to know was that we were willing to pay the full asking price. Surely this is totally unethical if not illegal to reveal my situation.

[bednobs]

it's usual isnt it? when i put an offer in on my last house the estate agent wanted to know o enable the seller to chose whose offer to accept

[Islay]

I don't believe they are out of order, if you have 2 buyers one needs a mortgage one is a cash buyer who would you recommend that you sell your house too?
You provided your information to them of course they were going to share it.

[scooping]

As long as you buy the house (with whatever deposit and whatever mortgage) can't see it's anything to do with the estate agent or the vendor. Sounds wrong to me. But not quite sure how they knew about your 'situation'. Even if they credit-checked you it shouldn't matter if you owe the national debt so long as you complete.

[woofgang]

The estate agent is an agent for the seller, not the buyer....although I would be asking how they got hold of the information and “talking to” whoever told them.