Requiring buyers to provide Proof of Funds

[Jose Guevarra]

Hi, 

During wholesale deals we don't provide much more information outside what is posted on an ad before we see a POF from a buyer. Of course, this detours the window-shopper buyers but, I came across a "reputable" buyer who seemed annoyed that they should have to provide POF before inspecting the property. His words,

"We are the largest cash buyer in XXX! I look at 20 deals a day from wholesalers. I don't have time round up a POF letter for everyone.

Let me know if you can show me the house or not!!!". 

I promise our sellers that we only bring in serious/verified buyers.  Should someone's "reputation" be good enough that they are serious buyers?  What do you guys think?

[Alexander Felice]

I sometimes just screenshot my account balance and text it to the agent. Most find this more than satisfactory.

Point is, it's more work to argue over producing a POF than to produce one....UNLESS YOU CAN'T PRODUCE ONE.......