Estate Agent Wants Screen Shots of My Bank Account?

elliemet23

Estate Agents DO NOT NEED anything!!!!

Give them the number of your mortgage broker and ask that they speak to them...

Good luck!

xxxxx

Surrey_EA

Car1980 wrote: »

Why does the agent want to see proof of deposit? A mortgage decision in principle is more use. If a mortgage offer is going to fall through, the buyer not being able to pay the deposit is at the bottom of the list of likely reasons.

No it isn't. A DIP/AIP is very easy to obtain, doesn't always involve a credit check, or need to verify payslips/P60s/bank statements.

Mutton_Geoff wrote: »

Because they are a shiny suited moron who makes the rules up as they go along and for today's amusement they thought they could salivate over someone else's earnings to see how they could have done if only they had paid attention at school.

:shhh: Adults talking, go and play quietly somewhere else.

wantonnoodle

elliemet23 wrote: »

Estate Agents DO NOT NEED anything!!!!

Give them the number of your mortgage broker and ask that they speak to them...

Good luck!

xxxxx

The policy of most estate agents round here is that they will not even consider taking the property off the market until they have seen DIP and proof of deposit.

We discussed this with our MA when we bought last year, and he produced a DIP for the exact amount we needed, less what we had in deposit. Proof of deposit was a screenshot in outlook, using the picture editing tools in Office to black out everything but the current balance which was almost exactly the amount of the deposit needed - we had moved our other savings out of the account and used the transaction search facility to remove these transfers from the screen before we took the grab.

steampowered

Mutton_Geoff wrote: »

Because they are a shiny suited moron who makes the rules up as they go along and for today's amusement they thought they could salivate over someone else's earnings to see how they could have done if only they had paid attention at school.

It is a real shame how intense negativity is starting to become acceptable in the UK. Posts like this are toxic and childish. You should be ashamed of yourself.

Surrey_EA

elliemet23 wrote: »

Estate Agents DO NOT NEED anything!!!!

If you were selling your property through an estate agent, and someone made an offer you were considering accepting/had accepted, would you be happy if the EA made no attempt whatsoever to ensure that the person who had made the offer was in a financial position to go ahead with the purchase?

Personally I don't think that requesting to see bank statements is the right way to deal with the matter, but to say estate agents do not need anything is not correct. As a seller if the EA did not bother to check, I would feel they were not doing their job correctly.

chappers

Surrey_EA wrote: »

If you were selling your property through an estate agent, and someone made an offer you were considering accepting/had accepted, would you be happy if the EA made no attempt whatsoever to ensure that the person who had made the offer was in a financial position to go ahead with the purchase?

Personally I don't think that requesting to see bank statements is the right way to deal with the matter, but to say estate agents do not need anything is not correct. As a seller if the EA did not bother to check, I would feel they were not doing their job correctly.

This^^^

I would never accept an offer until I had seen sight of funds or at least sight of how the purchase was to be funded.
No method is fool proof, but it's a way to find out where a buyer is in their process...Have they actually found out if they might be in a position to borrow the necessary money/have sufficient deposit/cash to buy outright...or are they at worse fantasists or at best not far enough down the process to be able to immediately proceed the sale. It's just another question along with have they sold, are they in a chain, are they FTBs etc. All the questions you ask, to piece the puzzle together when trying to assess whether you want to proceed with a potential buyer.

if your happy to show your bank statement mortgage offer or whatever to the EA, then go ahead if not there are other ways.. if you don't want to do any of that, be prepared for the vendor not to accept your offer or take it seriously.

The_Real_Cheddar_Bob

You could always try not sending them the information they want.
Does it really matter that much? A few months from now it will all be forgotten.