Documents required by Estate Agents from overseas buyers

We are in the process purchasing a property in Puerto Banus. Our estate agent has requested that we provide a TAX declaration or payslip for their internal records. Is this a legal requiremant??? Our lawyer has not requested a tax declaration or payslip so why should the estate agent??? I'd appreciate advice......

It's the same in the UK, the agents ask for 'proof of funds', when to do so could mean them seeing very private documentation, just take your lawyer's advice, he/she is representing you, the agent is representing the vendor. 

I can't see why the estate agent wants these documents unless they are helping to arrange a mortgage for you. In the two properties we have bought here we never gave anything like that to the agents. 

When moving money around the rules are changing and to prove there is no money laundering activity you will have to provide everything from a bank statement to blood tests and xrays!!!

Sledgehammer to crack a nut comes to mind and yes once again Honest Joe and Janet Public are being persecuted due to the fiddling and corruption of the financial big boys (and girls)
 

If you are making a cash offer for a property the agent may wish to see evidence that this is correct before he puts the offer to the seller 

We are in the process purchasing a property in Puerto Banus. Our estate agent has requested that we provide a TAX declaration or payslip for their internal records. Is this a legal requiremant??? Our lawyer has not requested a tax declaration or payslip so why should the estate agent??? I'd appreciate advice......

My guess is, and it's really only a guess as i have never had this asked of me the way you have, although one did ask some years back if I had the funds available to purchase?  And if we did agree a deal could I put down a credit card deposit? done verbally only, perhaps they want some proof of earnings / money these days so they know they are dealing with buyers who are interested in really buying, and not just wanting to take a look  (Be nosy)  at the inside decor of houses,  imagine how many trips the agents must do to show folk houses and never get a sale due to the holiday dreamers.

As for their internal records, if they have two lookers on one house, you have shown them you have the funds, perhaps the others haven't, suppose it's feasible to hope the agent helps you a bit more because they know your money situation.

I wouldn't think it's a legal requirement though...But everything to do with money is now changing.

An honest agent doing their best for their client will no doubt wish to know if the buyer is in a position to proceed. However giving them bank statements, share certificates, investment statements etc to photo copy is not a great idea, in the UK the buyers solicitor can ask for proof of funds and certify this for the vendor's solicitor, but the agents still ask. 

All very well to protect their time. How many times the agent have properties that are not for sale, they do not have keys to the property, not turn up or turn up late or send a staff who is on another planet.

I have personally encountered the above despite of idtenifiying the property/ies, area's. The Agent knew very well that I was flying from London at my expense & time and could not care less.

No sympathy for Agents and I would not leave or allow them to make a copy of any of my personal documents. A professional agent can sniff a serious/time water buyer from miles. 

shakeel, 

I can't disagree with anything that you have said, bearing your financial heart to complete strangers is asking for trouble. I wondered if there are any lawyers or police officers (current or retired) on the board, and what their thoughts on this are.

I agree 100% with Baz

I am sure there is nothing to say that an agent cannot ask for anything but I am equally sure that it is not a legal requirement.  If it were what would happen in a sale where is no agent or lawyer ?

The contract is between the buyer and the seller, made before a notary who's job is to ensure that the law is complied with

johnzx.

I don't think that anyone considers it to be a legal requirement, but consider this.

When I was selling my late mother's bungalow the agent recommended an offer from a developer having seen proof of funds. However the buyer kept putting off completion, it transpires that he had shown the same proof of funds in respect of several properties and had failed to find a financial backer, some good proof of funds was.