Does size of your deposit make any difference when bidding?

[jaykay]

Just wondering if the deposit size makes any difference when you're putting in a bid.
Eg, does the seller or estate agent usually prefer a bid with a higher deposit, say for 2 bidders with €500k bids, one with a €100k deposit and the other with a €200k deposit?
Or is it just the bank that sees the difference?

 

[Superstitious]

Hi jaykay,
It is only when your offer is accepted that the buyer looks for proof of funds.Usually your mortgage provider.Having a bigger deposit is only helpful with your buying power as you can bid more and also if the house need renovating.
The house we went sale agreed on needed work done and the estate agent did inquire if we had the funds as they didn't want the sale to fall through. That apparently happens a lot when people get their surveyors report and find out what needs to be done and haven't budgeted when bidding.

 

[mathepac]

Which might suggest a change in the sequence of events, e.g. survey first, bid afterwards. Or force estate agents to tell the truth about the extent of renovations needed up front to ease and shorten the decision-making process for potential buyers.

 

[RedOnion]

In my opinion, there's no valid reason to ever disclose your funds to an estate agent, other than a letter from your solicitor to say you have funding in place to cover your current bid, if that's required. The only time it would really make a difference is if you are a 100% cash buyer, and there is something about the house that would mean a mortgage would not be possible or difficult to get.