mortgage approval during bidding

Discussion in 'Mortgages and buying and selling homes' started by pats22, Jan 28, 2005.

  1. pats22

    pats22 Guest

    hi just wondering if its common practice for estate agents to request proof of your mortgage approval during the bidding process??


  2. Nope, it's none of their business and just a ruse to see how much you've got available to spend. Tell them you're mortgage approved (if you are) and no more.

  3. pats22

    pats22 Guest

    i thought as much
    they said the other bidder has sent theirs in allready but i suppose thats a spoof as well -

    thanks for the confrmation
    much obliged
  4. Big Maggie

    Big Maggie Guest

    I can see where Sarah is coming from. On the other hand, when I was selling my house, and was under pressure for a quick sale because I had my eye on a new house, my estate agent and I only accepted bids from loan approved bidders who were willing to show their approval to the estate agent. This made sure that whoever's bid was accepted, that at least they would be in a position to close the deal . People do mess other people around. It happened to me in the past, where I accepted a bid, turned down another one just slightly under that, and the bidders that I had accepted, turned out to be wasting my time.
    Hope this helps.