Proving funds to Estate Agent

Carl31

Be careful, if the EA knows you can go higher, they might make you go higher

I dont see why the EA needs to get involved in your finances, if you cant finance your purchase, thats you and your solicitors problem

mije1983

Carl31 wrote: »

if you cant finance your purchase, thats you and your solicitors problem

Three are more people involved that just 'I'. What about the vendors, who may turn down other buyers due to your offer, and then anybody further on in the chain etc. And by extension, the EA as well as they won't get their money. Not having the funds to complete will affect all of those, some may lose onward purchases, others will be out money.

I just did as said in an above post, and gave the EA the number and email address of my broker and said they were welcome to contact him if they needed any proof I could afford the offer I made.

Riggyman

sheff6107 wrote: »

General etiquette is to show the mortgage Decision in Principle to the agent.

No it's not

ultimatedingbat

I shared our DIP with our EA only after an offer was accepted

HouseBuyer77

EAs will often ask a few basic questions before you put an offer in. 'Do you need a mortgage', 'Do you have an agreement in principle', 'What % deposit would you put down' but having to provide actual proof and paperwork before actual offer acceptance is definitely unusual.

marksoton

HouseBuyer77 wrote: »

EAs will often ask a few basic questions before you put an offer in. 'Do you need a mortgage', 'Do you have an agreement in principle', 'What % deposit would you put down' but having to provide actual proof and paperwork before actual offer acceptance is definitely[STRIKE] unusual.[/STRIKE]unacceptable

Just the one word wrong!

-taff

Same here. Told them to speak to our Mortgage Advisor to confirm funds available.
I wouldn't have shared what we could afford because as someone else said, hey'd know how much we could afford.

Hedgehog99

I'm not saying when during the process you should show proof or to whom, but, for your deposit, you could open a separate instant access savings account where you can quickly add or withdraw money so as only to show the funds you want it to be known you have - then you could avoid having to disclose you have more money than you're offering.

lee111s

Just send them your FRO form.

Daniel86

An update, our offer was accepted so I was happy to send him the proof he wanted, now on to finding a solicitor and mortgage deal. The EA has warned me off using online solicitors(and recommended one of his own of course), should I take that with a grain of salt? I found one on google(SAM Conveyancing) with very good reviews and they've given me a quote I'm happy with, any thoughts on that kind of thing?