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Cash Offer

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Comments

  • poppysarah
    poppysarah Posts: 11,522 Forumite
    You could pick your conveyancing solicitor and show them the proof and ask them to cnovey to the EA that you indeed have enough cash
  • Swipe
    Swipe Posts: 5,714 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Or open another savings account and move the offered amount into it.
  • chickmug
    chickmug Posts: 3,279 Forumite
    ciano125 wrote: »
    If you have offered say £100k for the house, but you have £120k in your account, and you show the EA this, they'll tell their clients that you can afford more, no doubt about it. Take proof in by all means, but perhaps a letter from your bank stating that you have the necessary funds might be better.

    Deluded -- as this just is NOT the case as the EA will just be happy to have the sale at the price already offered.
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • chickmug
    chickmug Posts: 3,279 Forumite
    poppysarah wrote: »
    You could pick your conveyancing solicitor and show them the proof and ask them to cnovey to the EA that you indeed have enough cash

    Solicitors, conveyancers, banks, etc do NOT like being asked to be in the middle to prove funds. They usually ignore such requests.

    As an agent I would fully expect buyers to co-operate on this point. Those that don't either have not got the funds or are the type of folks that just like being awkward for awkwards sake.
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • Tiger_greeneyes
    Tiger_greeneyes Posts: 1,401 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    wibble68 wrote: »
    Hi,

    Have put in a cash offer on a house. The estate agent phoned up and
    said that if the offer was accepted that he would like to see proof of funds.

    Is this standard practice or are they taking the p***.

    Cheers

    Wibble
    It's standard practice these days. It's not for the vendors directly but it is for their solicitors. HTH.
  • Kavanne
    Kavanne Posts: 5,093 Forumite
    chickmug wrote: »
    Deluded -- as this just is NOT the case as the EA will just be happy to have the sale at the price already offered.
    Haha are you joking? Bigger offer = more commission!!
    Kavanne
    Nuns! Nuns! Reverse!
    'I do my job, do you do yours?'
  • chickmug
    chickmug Posts: 3,279 Forumite
    Kavanne wrote: »
    Haha are you joking? Bigger offer = more commission!!

    Absolute rubbish.
    A few tho' more at 1.5% which is £10 per tho'.
    Big deal
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • chickmug
    chickmug Posts: 3,279 Forumite
    Tiger_greeneyes wrote: »
    It's not for the vendors directly but it is for their solicitors. HTH.

    Can you explain why so as I don't understand the point you are making:confused:
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • pawpurrs
    pawpurrs Posts: 3,910 Forumite
    1,000 Posts Combo Breaker
    I would want to see a mortgage offer or proof of funds, and have requested that, why would any one, agree to sell a house when you have no idea if they *can* actually afford it, take your house off the market, and start incurring costs?
    Pawpurrs x ;)
  • Robert_Sterling_3
    Robert_Sterling_3 Posts: 7,112 Forumite
    iwantbargains wrote: »
    Let's be honest !:D

    What? Just this once or in general?
    ...............................I have put my clock back....... Kcolc ym
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