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Made an offer - is this normal?

smcqis
smcqis Posts: 862 Forumite
Part of the Furniture 500 Posts Combo Breaker
in House buying, renting & selling
I made an offer on a property today (my first ever offer on a house) and the EA asked which bank my mortgage was with to which i replied we have seen broker and ready to go to our best deal to which she replied who and where is my broker and i told her which is fine then she asked how much deposit i had? I responded is this necessary she said yes, to which i replied 20% even tho ive more but didnt wana tell her that.

Is that normal to ask my deposit amount?
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Comments

  • mrs-h_3
    mrs-h_3 Posts: 109 Forumite
    Seems fairly normal to me, they have to know that you are a serious buyer and can afford the property and we have been asked various things similar to you in the past
    If you found it to be very intrusive and the manner in which the questions were asked rude then thats a different case i think
  • poppy10_2
    poppy10_2 Posts: 6,597 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    smcqis wrote: »
    Is that normal to ask my deposit amount?
    Seems fair enough to me. They want to know if you are serious or not, if you don't have a decent deposit you won't be able to get a mortgage on the property.
    poppy10
  • spadoosh
    spadoosh Posts: 8,732 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    We made our first offer today :D

    Similar questions asked!

    Good luck!!
  • Barneysmom
    Barneysmom Posts: 10,147 Ambassador
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    It doesn't to me, they want to know how much cash you have ready so they can reject your offer and try and make you raise it. IMO.
    The estate agent works for the seller not the buyer.
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  • Funkygibbon
    Funkygibbon Posts: 376 Forumite
    I've just made an offer. Not asked any questions at all!
  • wearside_2
    wearside_2 Posts: 1,508 Forumite
    Cashback Cashier
    The Estate Agent works for the seller and to safeguard against timewasters, always asks questions regarding the status of the proposed buyer, if there is a property to sell, if a mortgage is required and if so has it been agreed.

    What you have outlined seems normal to me.
    To Dare is To Do:beer:
  • smcqis
    smcqis Posts: 862 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    I have 40% but i didnt want to say this as they will try get more out of me, i didnt want to say 10% as dont think it would look favourable on me, so i said 20%, would it be ok to say this?
  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    Part of the Furniture
    smcqis wrote: »
    I have 40% but i didnt want to say this as they will try get more out of me, i didnt want to say 10% as dont think it would look favourable on me, so i said 20%, would it be ok to say this?

    Your lender determines the amount of deposit required, not the vendor or EA.
    "You were only supposed to blow the bl**dy doors off!!"
  • smcqis
    smcqis Posts: 862 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    maninthestreet wrote: »
    Your lender determines the amount of deposit required, not the vendor or EA.

    I know that but surely i dont wana give too much away to the EA in terms of what i have and my position!?
  • ukjoel
    ukjoel Posts: 1,468 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Your estate agent also gets back handers everytime he refers someone to a mortgage broker, a solicitor, a moving company, or a surveyor.

    Bearing in mind you will be spending thousands with each of these guys its a nice little sideline.
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