Proof of Funds

[Designhelp]

Hi All
Silly question,
Is it normal to show sellers estate agent Mortgage Offer Letter, Previous/Current mortgage (now out if fixed term period) to show outstanding amount.

They want to check we can afford new place. This is after having originally offered, lost my buyer, found a new one but lower offer, now having to revise my original offer to seller as they have re-marketed their property but no offers/views.

They need to verify that you are "proceedable" ie. have finances in place and offer is on the basis you claim.

Yes, it means they're taking you seriously. You need to show you're proceedable and able to afford the property, otherwise there's no point them accepting your offer.

You can ask your solicitor to confirm finds. I have done this when I want to negotiate as my mortgage offer is higher than I want to spend. I get bid up otherwise. In our neck of the woods you can get asked to prove funds before a viewing!

Being on the fringes of property there are liars around. It’s rife. If you are serious please show proof. You will be taken seriously.

We are downsizing and don't need a mortgage, but I don't remember having to prove that. On the other hand we had to jump through hoops for ID checks before we could market through EA.