Proof of funding

Catglee

Looking to view a property.

Have been asked for proof of funds.

I'd be funding any purchase thru a mixture of mortgage, sale of current home & savings.

What would I need to show as I don't want to tip my hand with respect of what my total budget is.

Thanks

The fact that you have to sell to buy puts you at the bottom of the preferred bidder scale, so if you like the property, bring whatever you need to show you have the finance to buy it, mortgage approval and deposit should do it. They just want to know that you are not wasting their time.

CreadanLady

Show them anything, it doesn't even have to be real, just a doctored statement that is passible. They have no power to verify. And even if they did cop a fake, they have no power to do anything.

https://www.boards.ie/discussion/comment/119056112#Comment_119056112

Apart from telling the op to jog on.

snow_bunny

...

snow_bunny

https://www.boards.ie/discussion/comment/119056112#Comment_119056112

Anyone who would actually do this is an absolute dirtbag and one of the many reasons we need proper regulation around the bidding process.

If you're not prepared, approved and have the relevant documentation needed to enter a bid in good faith, then you're at best a time-wasting dreamer and at worst the kind of cretin that's out there driving up prices for people looking to put a roof over their heads.

Most decent estate agents will see you a mile off and blackball you when you inevitably get found out should you go sale agreed.

Tar.Aldarion

https://www.boards.ie/discussion/2058245677/proof-of-funding

I just showed them AIP with the figures blacked out.

macvin

https://www.boards.ie/discussion/comment/119056112#Comment_119056112

And then someone will be complaining about "false bids" and wondering how an agent could allow someone bid 350k without checking if they are genuine

Roxxers

https://www.boards.ie/discussion/comment/119056112#Comment_119056112

that's retarded

Marcusm

Other than report you for deception or using a false instrument. Stupid suggestion. OP, you’ll need to have made some progress with the sale of your own property to be taken seriously.

Former Former Former

https://www.boards.ie/discussion/2058245677/proof-of-funding

You'll need an approval in principle letter from a bank. As noted above, if you don't want to give too much away, you can redact the actual figure. This is what I did (several times) and estate agents didn't bat an eyelid.