Estate Agent Wants Screen Shots of My Bank Account?

Alanah_Murphy

Hi All,

Just had an offer accepted on a property and the estate agent is insistent that I need to send them a screenshot of my bank account proving I have the deposit. Is this normal? I told her my broker and solicitor would be more than happy to confirm I have the funds available and an AIP- but she is insisting she needs to see it.

I don't feel super confident sending a screenshot of my bank account via unencrypted email to a woman I've never met. (I've only ever dealt with her colleague.)

Any advice much appreciated!

aneary

Get your solicitor to confirm that you have the funds in place.

Comms69

Just refuse, it's nothing to do with the agent

Cardinal-Red

I'd avoid this if possible.

Remember that the agent works for the seller and I am always nervous about giving any information like that.

Surrey_EA

Comms69 wrote: »

Just refuse, it's nothing to do with the agent

Well, one could argue that it is part of the agents job to verify that a prospective buyer is in a financial position to go ahead with the purchase.

However, there are other was of confirming your financial position to the agent. As mentioned above, asking your solicitor to confirm in writing to the agent that you have sufficient funds available is perfectly acceptable.

m0bov

Get your broker to send MIP to them

caprikid1

"Get your broker to send MIP to them "


MIP tells them nothing really.


I have just had similar with an estate agent, it just so happens one account had the right amount in and we just showed it on a mobile phone.


No big deal to be honest, we never showed them more that we needed too , if anything a little less.

Mutton_Geoff

I could understand the agent wanting to satisfy themselves of your ability to proceed but considering most agents are unqualified amateurs, there will be a huge element of making it up as they go along, using their apparent status to encourage you to provide what is extremely confidential information.


Providing such level of detail also weakens your bargaining position because it makes it harder to place a cheeky offer when they will already know full well what you can afford. Remember, they work for the vendor, not you.


Have them contact your solicitor to confirm funds are available.

Candyapple

Alanah_Murphy wrote: »

Hi All,

Just had an offer accepted on a property and the estate agent is insistent that I need to send them a screenshot of my bank account proving I have the deposit. Is this normal? I told her my broker and solicitor would be more than happy to confirm I have the funds available and an AIP- but she is insisting she needs to see it.

I don't feel super confident sending a screenshot of my bank account via unencrypted email to a woman I've never met. (I've only ever dealt with her colleague.)

Any advice much appreciated!

What if you had your deposit spread over multiple savings accounts? Are you supposed to take screenshots of every one of them? I'd tell them to do one and confirmation from your sols/MB should be more than enough.

Alanah_Murphy

Exactly, it's across three accounts, my savings, my partner's savings and a HTB ISA. They've already accepted the offer - so unsure why their really pushing for this.

Surrey_EA

Alanah_Murphy wrote: »

They've already accepted the offer - so unsure why their really pushing for this.

They want to verify that you are in a financial position to be able to go ahead with the purchase at the agreed price. It is not exactly unheard of for someone to put an offer forward for a property, then it later turn out they have been unable to raise the funds necessary.

I completely understand why someone would be reluctant to show copies/screenshots of their bank statements to an EA, therefore it is perfectly acceptable to ask your solicitor to confirm to the EA that you are in a position where you have the required funds available.