Offer Requirements

vpine

Hi!

We saw a house we liked, will be putting offer in soon, the seller's agent is requestIng copy of my driver's license, this is the 1st time we've been asked for that when submitting offer, it makes me uncomfortable (not sure why agent needs my DL) , is this common?

Tia 

LoveKiss

It's not that big of a deal. We had two offers that required a financial disclosure of current address, banks where we held accounts with their current balances, other assets, and liabilities. It was uncomfortable, but necessary. So just a license seems like no biggie.

Nechie122

We were asked for information we didn't feel comfortable giving so we didn't. Only the bank needs certain information. We still got the house. If you haven't even submitted an offer yet, I would be careful. We never had to show our drivers licenses but that specific requirement might vary by state. What does your REA say?

 ETA: In our case, the seller's agent wanted to see DH's paycheck and we said absolutely not. I can't imagine giving the level of detail PP provided to a seller. Not only is it potentially risky to disclose confidential information to someone who isn't your mortgage broker, but you lose some bargaining power if the sellers know you could "afford" more house than your offer. It doesn't make sense to me. We just said our commitment letter from the bank would have to suffice and it did and we're happily settled in now. 

vpine

We were first asked to provide SS # and personal information to seller's agent, we refused and then were asked to get pre approval from their preferred lender even though we submitted our pre approval letter from our lender so we went ahead and submitted online application yesterday. They're making this a pain, we were told the seller previously had accepted offer without requesting any information and a week before closing, deal fell through because buyer did not have sufficient closing cost funds....

MommyLiberty5013

The seller should not need to see your face via the ID. And, there's no way someone should get your SS either out of this exchange of info.

The only time we ever had to show ID was at the closing table when the title company verified our identities as we sat there before we signed the closing documents.

HarleyKins

As an active REA, I've never heard of this. I've never asked for one and never have been asked for one for an offer. The only time a DL has been needed is at closing. In the past few years, a SS# on an offer has been removed. At least in Wisconsin...

doglove

Do you have an agent for yourself? I would suggest you get one. It costs you nothing and they will (hopefully) be in your corner and looking out for your best interests.

Summer2011Bride

I would never give such personal info as a SS# to the sellers. The only time our licenses were needed was at closing. We obviously gave more information like bank accounts and salary info to our mortgage lender, which was necessary for loan approval. But in no way should the sellers need that information.

If you have an REA, I would have him or her deal with it, but would not be willing to give up that information. You could ask the REA about the driver's license thing. 

melanieky

If you don't already have one, you should really get an agent of your own. If you agent said it was okay and your trust your agent then I would go with what my agent suggests.