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Bidding without a mortgage?

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  • 21-06-2008 1:51am
    #1
    segasega
    Registered Users Posts: 785 ✭✭✭


    We are currently in the process of filling in our mortgage forms. We have everything apart from our bank statements which I have to wait two weeks to get back. We have a friend at the bank we are getting our mortgage through. He has been through our finances and says he will approve it in two days once the papers are in.

    Now.....

    Whilst starting to get all our bits and pieces together for the bank we kept an eye on houses for sale in the area we want to move to. We spotted one we thought looked good so headed down. Turns out, we love it.

    So my question is, can we put a bid in before our mortgage is defo 100% approved or is that illegal? I will talk to my solicitor on Monday, but just wondering if anyone has an idea?

    Cheers.


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    #2
    the_syco
    Registered Users Posts: 37,295 ✭✭✭✭the_syco


    This you: http://www.boards.ie/vbulletin/showthread.php?t=2055307043 ?


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    #3
    segasega
    Registered Users Posts: 785 ✭✭✭segasega


    God No.

    Haven't put a bid in yet.


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    #4
    beeno67
    Registered Users Posts: 1,218 ✭✭✭beeno67


    segasega wrote: »
    We are currently in the process of filling in our mortgage forms. We have everything apart from our bank statements which I have to wait two weeks to get back. We have a friend at the bank we are getting our mortgage through. He has been through our finances and says he will approve it in two days once the papers are in.

    Now.....

    Whilst starting to get all our bits and pieces together for the bank we kept an eye on houses for sale in the area we want to move to. We spotted one we thought looked good so headed down. Turns out, we love it.

    So my question is, can we put a bid in before our mortgage is defo 100% approved or is that illegal? I will talk to my solicitor on Monday, but just wondering if anyone has an idea?

    Cheers.
    Of course you can. Standard practice in fact.


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    #5
    BC
    Registered Users Posts: 1,326 ✭✭✭BC


    You don't need to have mortgage approval to bid (most people don't) but you should have it before you sign anything.


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