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EA requests during bidding

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    #32
    ThisRegard
    Closed Accounts Posts: 27,833 ✭✭✭✭ThisRegard


    Before going sale agree they might ask.


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    #33
    Parchment
    Closed Accounts Posts: 2,203 ✭✭✭Parchment


    boris1234 wrote: »
    To add to peoples experiences above I have placed bids this week on 2 different properties. Neither EA asked for proof of funds. They just accepted our bids.

    I find this pretty frustrating as what's stopping anyone ringing up bidding without funds and driving up the price.

    Is it normal practice for an EA to ask for proof of funds?

    We also bid on a property before Christmas and were not asked for proof of funds.


    Nothing stops people driving up the price with dud bids. Welcome to the insane world of the Irish property market.

    We were asked for proof once the bidding got "serious" on properties, when it was getting close to reaching the max amount the house would go for.


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    #34
    allibastor
    Closed Accounts Posts: 2,520 ✭✭✭allibastor


    I have only ever have one agency ask me for proof of funds prior to a sale agreement, or even accepting of an offer.
    The sale on that house went through in 4 week from sale agreement to keys exchange

    I have had a few cases where no paperwork was issued up until deposit time. Those sales have taken anywhere from 12-20 weeks.
    I wonder is there a link there.


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    #35
    Askthe EA
    Registered Users Posts: 724 ✭✭✭Askthe EA


    allibastor wrote: »
    I have only ever have one agency ask me for proof of funds prior to a sale agreement, or even accepting of an offer.
    The sale on that house went through in 4 week from sale agreement to keys exchange

    I have had a few cases where no paperwork was issued up until deposit time. Those sales have taken anywhere from 12-20 weeks.
    I wonder is there a link there.

    It would suggest that EAs who ask for it, generally have their head in the game and their ducks in a row. Requesting proof of funding is a sure way to drop the messers.


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    #36
    spaceHopper
    Registered Users Posts: 3,992 ✭✭✭spaceHopper


    Parchment wrote: »
    Nothing stops people driving up the price with dud bids. Welcome to the insane world of the Irish property market.

    We were asked for proof once the bidding got "serious" on properties, when it was getting close to reaching the max amount the house would go for.

    If you are close the where they want to close they will ask for proof, if they are using your bid to drive up the price they won't ask

    Always when you are out bid ask the EA's has he checked they have the funds, make sure you have your paperwork in order. If they haven't checked tell them you'll consider a bid after they are sure you aren't bidding against a tyre kicking dreamer


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    #37
    theteal
    Registered Users Posts: 7,593 ✭✭✭theteal


    Askthe EA wrote: »
    Where's here out of interest?

    Apologies for delay, just saw this. London/Essex


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