Estate Agent - Requesting Documents

[Deleted User]

Hi,

The estate agents that is selling the property I am currently purchasing has asked for proof of my mortgage in principal offer, which I have no issue of providing, but they have also asked for copies of my bank statements showing that I have the deposit available too - is this normal?

I would expect the mortgage company, financial advisor or maybe my solicitor to request this but not the estate agent that is representing the seller.

Any advice

Thanks

melj16

yes its normal practice

they need to be certain you are serious about buying and to reduce the chance of their client being messed around (and themselves) they need to be confident that you are not a time waster.

I just emailed phone print screens of my account balances from my phone app.

ACG

Have you agreed a purchase price?
Some estate agents will want it so that they can ensure your not a time waster.

If you have not agreed a purchase price i would be reluctant to provide it - your then showing your hand on what you can get from the bank which may have an impact on the final agreed price (for the worse).

bluesbell

I've responded on your other thread - don't do it, get your solicitor to confirm after offer is accepted

shortchanged_2

Best thing to do is take your deposit out in cash show it to the EA then put is back in your bank.

Only joking by the way.

Being serious though I would not show an EA my bank statements. Don't forget they are acting for the seller.

hcb42

I wouldn't show them anything either.

magpiecottage

Me neither. They are legally obliged to inform the vendor of your offer anyway.

melj16

if its a property you are 'currently buying' like you said in your original post, then that would suggest a price has been agreed, and have written confirmation of this?

You can always not bother proving you are genuine buyer, which could mean they may not be willing to take the property off the market, and therefore you lose it.......

I showed my proof of deposit, after agreeing a price and having written confimation. My showed 25% (which is what I wanted to put down) of the purchase price and nothing more. there were no extra funds to give them the chance of pushing my price higher, shown on the statement.

7 weeks on, and i'm in my house, for the same price we initially agreed on and not a penny more......

ethank

If you are using a mortgage broker, ask them to contact them. Under no circumstances meet the in house mortgage broker.

theEnd

I'm not sure it's that unreasonable.

The agent just wants to make the sale. If you have the money ready and someone making another offer doesn't and you can show this, the vendor is more likely to take your offer, even if less.

ValHaller

melj16 wrote: »

yes its normal practice

they need to be certain you are serious about buying and to reduce the chance of their client being messed around (and themselves) they need to be confident that you are not a time waster.

I just emailed phone print screens of my account balances from my phone app.

Far from normal practice. It might be something some agents get away with more than they should.

• Funds should not be proven until an offer is accepted
• Best for to prove funds to your own solicitor and the solicitor to confirm to the agent