Monday 14 September 2009 1.22pm
We were asked by some (but not all) agents if we had an agreement in principle in place when we bought our current place, as first time buyers. Most presented it as a plus point for us (that we had one) because it shows that you can move quickly, although I would expect that the agents were also checking that our offer was legit/backed-up so they could advise the vendor effectively.
Perhaps this is another point to consider when instructing the estate agent - i.e. let them know that you want all offers to come with an agreement in principle to back it up. In this day and age I suspect that this should apply to all buyers, not just first timers - it is to be expected that some of those with a property to sell might have mortgage issues as well.