Repossession Proof of Funds

Wi88le

Paully232000 wrote: »

Just curious as buying a house again in the next few months/end of year after 6 years in current.
Why would an estate agent want to see proof of funds other than to prove you can afford it.
Don't have a go if this appears a naive question, genuinely curious.

Once they have that information they know what you "can potentially afford" to pay rather than what you have offered, estate agent works for the vendor and their commission - not you, so it's best to keep all un necessary information from them if possible or prove it once deal has been done

richardw

ValHaller wrote: »

... under no circumstances verify funds until you have an offer agreed. ....

...................Exactly.

Paully232000

Wi88le wrote: »

Once they have that information they know what you "can potentially afford" to pay rather than what you have offered, estate agent works for the vendor and their commission - not you, so it's best to keep all un necessary information from them if possible or prove it once deal has been done

Oh I see, I will keep that in mind thanks for when i buy.

Paully232000

I was always under the impression that that would only happen if say i walked into an EA looking all scruffy and wanted to look at £1m+ houses:)

MysteryM

Thanks for all the replies, i'm going to take this advice and will definitely not show them a thing until they accept my offer.

Guest101

Even then, dont show them anything. Its not their role to see funds etc etc. Remember until you exchange contracts anything can change, they can increase their asking price right up until the second you exchange contracts.

Your solicitor should be able to verify that ' you have sufficient funding in place for the transaction', and thats it.