Why Would Seller Sign a Contract without POF?

[Jim Witten]

Live in the Bay Area, had a lead on a off-market property that was soon to go on MLS. An investor of mine that buys in cash wanted me to get it under contract first before he looked at it. But it was unlikely he would even be interested in buying it, it was preliminary.

If I approached the owners and asked them to sign a contract that was all-cash, wouldn't they sensibly want proof of funds? Some type of seriousness? Why would they waste their time giving me a contract with a big unknown as to whether I'll even buy it?

[Cody L.]

I've bought tons of properties as "all cash" or no financing contingency.

Never once ever actually supplied proof

If someone wanted to buy from me all cash I wouldn't ask for proof but I'd ask for non refundable EM or a big option. That matters more IMO.