Estate agent asking for proof of deposit in response to offer

eddddy

BigBoss said:

We made an offer on a property and the estate agent has yet to confirm whether it's been accepted. They have, however, asked us to provide a proof of deposit (amongst other things like solicitor information and decision in principle).

Is this normal or can I just say that my solicitor can confirm the funds?

We actually had to supply the DIP to view the property.

It's not usual for an EA to ask for proof of deposit and solicitor information before the offer is accepted.  That tends to be the first step after the offer is (provisionally) accepted.

It's a bit daft to waste time doing that, if the seller then says "I'm not accepting your offer because it's not high enough".


The more usual way for things to work is like this:

• The buyer says "I'm offering £250k, I've got a deposit of £x and a AIP for £y and I'm an FTB"

• If the seller says they'd prepared to accept £250k - the EA then asks the buyer to prove they really have the deposit, the AIP etc

• Once the EA / buyer has checked all the details and is happy, they take the property off the market

jenni_fer

eddddy said:

BigBoss said:

We made an offer on a property and the estate agent has yet to confirm whether it's been accepted. They have, however, asked us to provide a proof of deposit (amongst other things like solicitor information and decision in principle).

Is this normal or can I just say that my solicitor can confirm the funds?

We actually had to supply the DIP to view the property.

It's not usual for an EA to ask for proof of deposit and solicitor information before the offer is accepted.  That tends to be the first step after the offer is (provisionally) accepted.

It's a bit daft to waste time doing that, if the seller then says "I'm not accepting your offer because it's not high enough".


The more usual way for things to work is like this:

• The buyer says "I'm offering £250k, I've got a deposit of £x and a AIP for £y and I'm an FTB"

• If the seller says they'd prepared to accept £250k - the EA then asks the buyer to prove they really have the deposit, the AIP etc

• Once the EA / buyer has checked all the details and is happy, they take the property off the market

In the common scenario these days where you go to best and final offers, they are for this at offer stage to help the vendor decide between the various offers they have been presented with.

sidneyvic

Why would you even ask this question ?
Why do you think the estate agent would want to know you have the required deposit before taking your offer seriously ? 

BigBoss

sidneyvic said:

Why would you even ask this question ?
Why do you think the estate agent would want to know you have the required deposit before taking your offer seriously ? 

Give it a rest mate. Google this question and see what has historically come up on this forum about it. Lots of posters have questioned this.