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Proof of funds EA

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  • 26-09-2017 10:14am
    #1
    gezz36
    Registered Users Posts: 82 ✭✭


    Hi, how do you show proof of funds if using some equity from house sale. Sold house 2 months ago, waiting to exchange contracts. Anyone used a letter from solicitor to confirm house sale and been successful at going sale agreed? We are purchasing new house through a private sale. Thanks.


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    #2
    irlrobins
    Registered Users Posts: 7,541 ✭✭✭irlrobins


    If you've sold the house and the transaction has completed, then you should be able to show a bank statement with the proceeds of the sale. Or of the funds are still in the client account of your solicitor, they could provide proof.

    If you're only sale agreed on the house you're selling, I would think the vendor of the new house wouldn't consider you having the funds until you'd at least had signed contracts on the house you're selling.


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    #3
    heroics
    Registered Users Posts: 1,878 ✭✭✭heroics


    We got a solicitors letter confirming that we had the funds available. Didn't say where the funds came from just that w had the funds available. Had no problems with EA.


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    #4
    gezz36
    Registered Users Posts: 82 ✭✭gezz36


    heroics wrote: »
    We got a solicitors letter confirming that we had the funds available. Didn't say where the funds came from just that w had the funds available. Had no problems with EA.

    Thanks, Had you signed contracts on the house you sold at that stage?


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    #5
    heroics
    Registered Users Posts: 1,878 ✭✭✭heroics


    gezz36 wrote: »
    Thanks, Had you signed contracts on the house you sold at that stage?

    Yes contracts were signed


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    #6
    Darith
    Registered Users Posts: 321 ✭✭Darith


    I was just asked for proof of funds for a house purchase. I didn't think to get a solicitor's letter; i just created a new bank account with only the funds of my offer; should i have used a solicitor's letter instead?


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    #7
    Cuddlesworth
    Registered Users Posts: 13,995 ✭✭✭✭Cuddlesworth


    Darith wrote: »
    I was just asked for proof of funds for a house purchase. I didn't think to get a solicitor's letter; i just created a new bank account with only the funds of my offer; should i have used a solicitor's letter instead?

    If its a cash sale, don't really see the difference. Pretty easy to photoshop too.


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    #8
    Darith
    Registered Users Posts: 321 ✭✭Darith


    Cuddlesworth wrote: »
    If its a cash sale, don't really see the difference. Pretty easy to photoshop too.

    Sorry you've lost me, photoshop? As in create a fake Bank statement or someone would use the details of my statement?


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