Qualifying the End Buyer

[Damian Walker]

In the world of photoshop and canva, anyone can forge a bank statement or screenshot. Is there a more reliable way to qualify an end buyer than just asking them to "send you a proof of funds"?

[Edward Stephens]

@Damian Walker, if you have any hunch at all that the Proof of Funds is fake, you should first think about whether or not you even want to do business with these people.  After you've decided you still want to deal with them, call the financial institution that provided the proof of funds to the buyer.  It could have been written by an attorney and you could call that attorney, as one example.  You should google the name of WHATEVER institution appears on the proof of funds letterhead also.  Just to see if that company even exists or if it's a scam that's been going around the internet.

Are you a wholesaler trying to find out if your cash buyers are for real?

[Eliott Elias]

You can call the bank and verify the funds. The end buyer should have skin in the game in the form of non-refundable earnest money.

[Chris Seveney]

@Damian Walker

Run a credit report and call their employer.

You can also call the bank and check account balance since you have the account number

[Ray Hage]

The best thing to do is call the bank and see if you can verify. A good way to get rid of the riff-raff is collect a healthy earnest deposit as well. I think most people wouldn't try to fake it after putting a big deposit down. In Florida, the buyer has 3 days to do it.