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Estate agents requesting letter from bank ?

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  • 26-05-2014 6:57pm
    #1
    Thewife
    Registered Users Posts: 402 ✭✭


    Hi
    I am currently trying to purchase a property that I have been renting. . I had offered 30k below asking price and estate agent asked me to get letter from my solicitor stating I had these funds which I did... offer was rejected.. after interest from another party I have now offered the asking price and the estate agent has requested I go to my financial institution to get a letter to state I have the funds... I am not financing for this purchase I have the money available to me... is it legal for them to ask me to grt this ? Im not happy about having to explain to a stranger in thr bank what I am spending my money on...


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    #2
    ABajaninCork
    Closed Accounts Posts: 8,411 ✭✭✭ABajaninCork


    Seems above board to me, and entirely normal. All you need to do is ask the bank to give you a letter confirming you have the funds. The seller wants to know you're serious and not just a tyre-kicker.


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    #3
    Thewife
    Registered Users Posts: 402 ✭✭Thewife


    It just seems such a invasion of privacy considering they already have the official letter from my solicitor and the fact that I have the bank draft for the deposit...
    surely a time waster wouldnt bother bidding on a property and paying a deposit for something they actually couldnt afford... or would they ??

    ABajaninCork wrote: »
    Seems above board to me, and entirely normal. All you need to do is ask the bank to give you a letter confirming you have the funds. The seller wants to know you're serious and not just a tyre-kicker.


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    #4
    the_syco
    Registered Users Posts: 37,301 ✭✭✭✭the_syco


    Thewife wrote: »
    I had offered 30k below asking price and estate agent asked me to get letter from my solicitor stating I had these funds which I did... offer was rejected..
    The other party may have shown proof that they have the amount, and the EA may be checking if you really have what you say you have before they say "no" to the other party. Don't kick a gift horse in the mouth, and all that.


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    #5
    No Pants
    Closed Accounts Posts: 3,347 ✭✭✭No Pants


    Make sure the letter doesn't state an amount above the current asking price or you'll find the asking price will adjust to match.


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    #6
    Thewife
    Registered Users Posts: 402 ✭✭Thewife


    Thanks for the advice :)


    quote="No Pants;90562019"]Make sure the letter doesn't state an amount above the current asking price or you'll find the asking price will adjust to match.[/quote]


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    #7
    BeatNikDub
    Closed Accounts Posts: 603 ✭✭✭BeatNikDub


    Exactly, a letter stating you have funds in place in all that is necessary. You do not need to mention figures or show statements!


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