Estate Agents wants proof of funds to buy property!

[Patsy10red]

We have put in an offer on a property which has been accepted. The EA.,
who we have not yet met is a very patronising chap and seems to think that a woman should be baking and cleaning and not dealing with a house purchase. He has now asked for proof that the funds are in hand.

Am I legally obliged to comply with his request?

Having sold a property eighteen months ago we are in the fortunate position of being cash buyers. However, the funds are not in one account
but several so that if the banks/building societies fail we would not lose our funds.

When we sold our house we did not request proof of funds, we believed the buyer.

Am I just angry because of his condescending attitude?

Help!! Any advice and info will be much appreciated.

Having just bought a house this year, it was something our EA asked for. I guess they get people putting in offers who don't have the funds to actually proceed. Its nothing to do with you being a female - my dh was the one who dealt with the EA's

Three pages in and the OP hasn't been back...

I would recommend getting your solicitor to confirm you are a cash buyer and can afford the property, rather than showing bank statements.

I don't trust EAs in the slightest, and the less info they have on you, the less they can use to screw you over.

This is standard practice for cash buyers and I don't think it's an unreasonable request any more than asking for proof of a mortgage offer in principle.

And when you show an EA your mortgage offer in principle, they do exactly the same thing - use that information against you. If your letter shows you have more buying capability, the EA will do their best to utilise it.

A good EA is working to get the best price for their customer (and you are not their customer). Yes, they also want to actually sell the property, but if they know that you can spend more, then they'll do their best to get more!

It's normal

I say this all the time - apologies for being a broken record. Use your solicitors and mortgage brokers to assure the EA that you are being truthful, without giving out unnecessary info.

We had to show to solicitor but not to estate agent.

Normal
Nothing to do with baking. Estate agents want to sell houses they are on commission. They aren't being mean to you because you are a woman.

We were cash buyers for our current property but still had to supply evidence of funds. I thought it was standard now. Why do you think this is a problem?

My first post on mumsnet and I have been overwhelmed by the speedy response. Thanks so much it has been much appreciated. It does appear to be the norm. now which has surprised me.
Nice to hear that I am not on my own when feeling uncomfortable about divulging such info. to the EA.
My solicitor is going to confirm to sad EA that funds are readily available
and we will await his reaction tomorrow.

Yes it seems pretty normal now, regardless of who you are/whatever

When we put an offer in last summer, we had to forward the mortgage AIP to the EA.

They requested the details of our mortgage broker and made contact with them!

I was quite surprised but I suppose they were doing their job of checking us out as serious contenders.

Would've drawn the line at revealing our true deposit/budget.

Didn't get the property in the end, vendor changed their mind and withdrew it from the market

Yeah this is completely normal OP. Glad it's put your mind at rest. Good luck with your house purchase.