What info do you have to give to estate agent when you make an offer?

[HangerLaneGyratorySystem]

Quick question - I've offered on a house, agent wants proof of funds and identity before they tell me whether or not it's accepted. So an AIP for a mortgage, which I have, but also a screenshot of my bank balance (where I've got my deposit). I am suspicious that they do this so that they can decide whether or not you can afford more and then start saying oh your offer is too low etc.

I understand proof of ID and AIP but just not sure where I stand on the rest. Even if the vendor does accept my offer, do I still need to show the estate agent the proof of deposit as well as passport and AIP?

Nope EA have to do it too, money laundering is checked at multiple points.

Some charge for it (we had to pay £10) some don't charge and do it quietly but by law they have to. Although usually its before the memorandum is sent not at offer as that would seem quite premature.

I've sent proof before that I have £100k more available, never been a problem because I make it clear I am putting in an offer based on what I think the house is worth. The problem comes when you put in an offer and start saying things like "this is the most I can afford", particularly if that's a lie.

I didn't have to show the estate agent anything when we made our offer. We had to show our solicitor our extra funds the following week.

It’s entirely normal - it is to a) comply with anti money laundering to prove the funds are available and b) to avoid time wasters

I told the EA it would be my solicitor confirming funds were available.

We did it in late 2023 and it was just to secure having the house taken off the market and marked as sold subject to contract. I can understand people getting a bit twitchy with estate agents though, that bbc documentary the other day was pretty horrifying!

When my son bought last year he had a large amount from an inheritance but was only using 1/3 of the money as a deposit

he had a AIP and showed them a screen shot of the deposit but he simply removed what he wasn’t using to a different account so they didn’t see that

He also did a screen shot of his passport and driving licence a screen shot of his credit score

It just made things easier that the estate agent could confirm to the sellers that he was a genuine buyer with a large deposit and in a strong position to buy the property

I think there is a need for the agent to confirm to the seller that the buyer can afford to buy the property.

Sometimes they look up your postcode on google street view to see what your present property is like.

It would be irrelevant to look a house up on Google, when I'm was buying, I had accepted an offer on my own property from first time buyers so they didn't need to see my house looked like. All they needed to know from my estate agent was that I had a proceedable offer and from us our proof of affordability and mortgage for the house we offered on.

Google images can be many years out of date so it will not be used for anything as serious as whether to accept your offer and as said if someone's buying it then.its just not relevant.

Yes it's normal from my experience. I was asked by my solicitor to provide proof of funds. As others have said, I remember there being something about ruling out money laundering etc.

This is perfectly normal practice. Proof of identity is obvious but also whats the point of doing all the work and then find out the money is not there. There is no conspiracy.