Putting in a bid - What does this question mean?

TomandBarbara

Asked by the estate agents of the sellers.  "The way in which the purchase will be funded – cash or mortgage – including the details of deposit amounts and the name of any lender or mortgage broker."
The purchase is going to be funded with cash from the sale of our house and a mortgage, is the deposit amount the cash from our sale or do we need to tell them that we are prepared to put a separate deposit down to secure the sale?  Its not very explanatory.

[Deleted User]

Cash from sale - how much equity are you planning to put down from the sale of your property
Mortgage - How much are you borrowing to make up the difference.  

They need to know for money laundering checks and also so they can present your offer to the owner.   If the numbers show you will be doing a 90% mortgage they might advise the owner to keep marketing the property until you get a mortgage offer (due to the difficulty getting a mortgage at that level).   If your numbers show a much lower loan to value they may advise the owner to take a lower offer from you against a higher offer from someone with a 5% or 10% deposit

ontheedgeofmyseat

If you have the notice of sale from your current property (an agreement that the property is sold subject to contract), this will be a sufficient proof of deposit. It is not necessary to put cash down as a deposit if you have this document. 

amnblog

Your deposit is none of their business.
Have your Broker deal with this.