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30-06-2020, 15:45   #61
Claw Hammer
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If an EAs costs have increased as a result of measures taken, I would have though it more appropriate to either increase charges to vendors or charge for viewings. No unnecessary personal data required for either of those options.
An ea can only charge one side of a transaction either vendor or purchaser but not both. Other than the amount of loan approval there is little or no significant personal data. X is approved in principle for a mortgage of some unknown amount with a particular bank is not a serious amount of personal data particularly since it ought not be retained after the viewing.
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30-06-2020, 16:20   #62
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An ea can only charge one side of a transaction either vendor or purchaser but not both.
fair enough

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Other than the amount of loan approval there is little or no significant personal data. X is approved in principle for a mortgage of some unknown amount with a particular bank is not a serious amount of personal data particularly since it ought not be retained after the viewing.
So other than the personal data, there's no significant personal data and it's not really serious personal data and it doesn't really count because they're not keeping it.

Sounds legit.
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30-06-2020, 19:08   #63
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Another thread destroyed by "I was asked for a document thus GDPR".

As an aside, most EA now seem to have systems for handling documents securely and handling deletion requests etc.
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30-06-2020, 19:53   #64
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While I agree GDPR had become the new version of "It's against health & safety", there's no way of escaping the topic when discussing an organisation that is looking for inappropriate/excessive/unnecessary data.

GDPR rights & obligations begin way before document security and deletion requests.
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30-06-2020, 21:17   #65
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What's stopping me from being an absolute prick and putting in fake bids, thus forcing the other person to put their bid up.

Proof of funds will only be usually sought when the bidding war is over.

So the other party will be left with a high bid to pay after I pull out for the lulz and giggles.
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30-06-2020, 21:27   #66
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What's stopping me from being an absolute prick and putting in fake bids, thus forcing the other person to put their bid up.

Proof of funds will only be usually sought when the bidding war is over.

So the other party will be left with a high bid to pay after I pull out for the lulz and giggles.
Yip, that’s the joys of EAs not looking for proof of funds from the outset. This has become a more pertinent issue today with AIBs decision to negate all mortgage offers to anyone on Covid payments or employed in at risk sectors. Now many of those who had approvals as of last Friday have lost them.

Op, while Graham’s opinion is no doubt legally correct, I’m always of the view that you should help yourself get what you want. If confirming proof of funds is necessary for you to get the property you want, standing on principal and going by the letter of the law just means someone else gets the viewing and you are locked out of the process. You can complain to the DPC, but that has limited benefit in getting that property as the vendor doesn’t have to entertain you thereafter.

https://www.google.ie/amp/s/www.irishtimes.com/business/financial-services/aib-introduces-frightening-mortgage-rules-and-halts-lending-to-covid-payment-recipients-1.4290956

Last edited by Dav010; 30-06-2020 at 21:31.
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30-06-2020, 22:02   #67
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What's stopping me from being an absolute prick and putting in fake bids, thus forcing the other person to put their bid up.
I'd expect the EA to ask you for proof of funds before your offer is accepted/considered.

Not when you ask to view.
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30-06-2020, 23:37   #68
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I'd expect the EA to ask you for proof of funds before your offer is accepted/considered.

Not when you ask to view.
You might be missing my point Graham.

I could bid €310,000 on a house that started at €300,000.

The other person who's genuinely interested will increase to €320,000

I increase to €330,000.

The other person goes up to €340,000.

They win the bidding war after I pull out for the craic and only then is proof of funds sought.

Joe Bloggs has won the bidding war at €340,000 when he could've gotten it for €300,000.
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01-07-2020, 00:11   #69
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Emphasis added

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I'd expect the EA to ask you for proof of funds before your offer is accepted/considered.
Without proof of funds an EA is unlikely to consider/register your offer.

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01-07-2020, 00:17   #70
Hairy Japanese BASTARDS!
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Emphasis added



Without proof of funds an EA is unlikely to consider/register your offer.

That's what you'd expect them to do
But they don't.

Unfortunately they only ask for proof when the bidding bear is over.

I'd say estate agents are not too pushed to change the system. It suits them.
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01-07-2020, 00:38   #71
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But they don't.
Not my experience but YMMV.
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01-07-2020, 10:43   #72
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Originally Posted by Hairy Japanese BASTARDS! View Post
What's stopping me from being an absolute prick and putting in fake bids, thus forcing the other person to put their bid up.

Proof of funds will only be usually sought when the bidding war is over.

So the other party will be left with a high bid to pay after I pull out for the lulz and giggles.
Whats stopping the EA or the vendors friends putting in fake bids
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01-07-2020, 11:40   #73
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I'm not convinced to be honest:





If the public interest argument were to be relevant, one could argue supermarkets should be able to check your bank balance prior to you entering the store.
If people were going into supermarkets, walking around asking questions and then saying they couldn't actually buy any of the goods on display because they have no finance, and if this was happening to such an extent as to prejudice other customers, it may well be reasonable for supermarkets to ensure people are actually able to buy something before the coming in the door.
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01-07-2020, 14:45   #74
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Have viewed upwards of 60 houses over the past 12 months and in none of them have been asked letter showing AIP (even though I had), though I understand we now live in different circumstances.

I don’t think its reasonable to ask individuals to provide an AIP letter just to arrange a viewing, with the pretext that they are just trying to ensure they remain compliant with Covid guidelines. Hundreds of other businesses have had to adapt their interactions with customers without asking individuals to take action outside of those guidelines themselves (social distancing, face masks where applicable etc.).

Estate agents are paid by their vendors for a service and this service should include assessing individuals pre, during and post viewing on their interest and payment capability (if only cursory) via their experience. If an estate agent asked me for this, I would say can you provide me with the guidelines the agency follow for the receipt, usage, and retention for that data. I would never assume that any company that is in receipt of such data wouldn’t just leave it on a local drive, or print out and leave in office. And personally I do not want such information of mine potentially being available to individuals outside of those I had provided to for the purpose I have provided this. I understand many individuals may not care about this and each to their own, but don’t think these individuals should question why everyone doesn’t have their same opinion.

Agents should allow viewings as they see fit, and then should they receive a bid they should then request a copy of their AIP letter before the bid is confirmed. That way they have maximum numbers of eyes viewing property and then have security for the vendor that each bid is backed by an approved mortgage. The idea that because many agents do not do this, that they should then ask during viewing makes no sense. Just put in a policy to ask for upon initial bid. Problem solved.
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02-07-2020, 15:29   #75
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If a party cant provide AIP - can other bidders requst the bids to be rescinded?
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