What personal information do estate agents need from you when you sell your house?

CJ5236

Thanks very much all.

I am only selling, not buying.  It was one estate agent that said they do these checks on me as the seller (and said they'd charge £60 for them incidentally).

@user1977 I would like to know if the estate agent will want to know details from me as the home owner selling the house - my job description, my salary, and to look through 3 months of my bank statements, or anything else like that.

monkey-fingers

mills112 said:

from my experience, it depends on the agent, but they will want photo ID and proof of ownership, like a mortgage statement and utiltily bills.

some wants to do AML checks, and can use CREDAS like the solicitors.

From another forum I'm on, an estate agent sold a house that it turned out, the seller didn't own!
And plenty of probate properties that haven't actually got probate yet for sale.

Not sure why they'd do AML checks. That's for the solicitors to do.

CJ5236

eddddy said:

CJ5236 said:

...and other checks or forms they have to fill in -

Do you mean other checks and forms relating to you (the seller) or checks and forms relating to the property?

If you mean relating to the property, Propertymark (formerly the National Association of Estate Agents) 'strongly recommend' that their member estate agents ask sellers to fill in a 'Property Information Questionnaire'.

But I suspect that many estate agents are not that diligent.

I mean relating to me as the seller.

grumpy_codger

mills112 said:

...

some wants to do AML checks, and can use CREDAS like the solicitors.

It makes no sense to do AML checks for a seller.
That said, there are many nonsencical things in our country, so everything is possible.

MEM62

CJ5236 said:

@MEM62 - One of the estate agents when I got a valuation said they they do money laundering checks on the seller.

But you are not giving anyone any money, you are receiving it.  There is no source of funds to check for AML.    

mills112

monkey-fingers said:

mills112 said:

from my experience, it depends on the agent, but they will want photo ID and proof of ownership, like a mortgage statement and utiltily bills.

some wants to do AML checks, and can use CREDAS like the solicitors.

From another forum I'm on, an estate agent sold a house that it turned out, the seller didn't own!
And plenty of probate properties that haven't actually got probate yet for sale.

Not sure why they'd do AML checks. That's for the solicitors to do.

they are obligated to do it under law, but as i said, most rely on the solicitors to do it for them, but the big agencies will do it themselves.

https://www.mrisoftware.com/uk/blog/aml-checks-for-estate-agencies/

mills112

MEM62 said:

CJ5236 said:

@MEM62 - One of the estate agents when I got a valuation said they they do money laundering checks on the seller.

But you are not giving anyone any money, you are receiving it.  There is no source of funds to check for AML.    

we sold a flat last year and we had AML checks carried out by the EA.  they are supposed to check that you didn't get the property from crime i guess as seller can also be part of the crime circle.  so if you didn't get caught buying it, you can get caught selling it.

i sold a couple of houses a few years ago and the EA also carried out AML checks on me as my details were passed to their solicitors to do the AML checks.

mills112

grumpy_codger said:

mills112 said:

...

some wants to do AML checks, and can use CREDAS like the solicitors.

It makes no sense to do AML checks for a seller.
That said, there are many nonsencical things in our country, so everything is possible.

as i have said above, you can still be part of the crime network selling your property and they may not have caught you when you bought it.

many years ago, there was no AML checks and you could buy properties for cash.  i remember hearing someone said he bought a house once where he just handed a sports bag full of cash to the solicitors, lol.

so I guess the AML checks on sellers is to catch crime money that was used to buy properties before the AML checks came in.

theartfullodger

Amazingly it turns out different agents require different stuff.  Who'd ave guessed eh?

35har1old

MEM62 said:

CJ5236 said:

@MEM62 - One of the estate agents when I got a valuation said they they do money laundering checks on the seller.

But you are not giving anyone any money, you are receiving it.  There is no source of funds to check for AML.    

Did you not buy it previously. 
If and when you get the money  the bank will ask a few questions. Better to be paid by cheque