Proof of Funds Letter and Identification

[Selena Vinson-Jackson]

Hello Everybody,

I need feedback on this question please. Im working with an realtor just to take a tour of some properties and I'm being asked to show POF and identification. We haven't signed a buyers contract agreement yet so why would I show my credentials when I'm not making an offer?

Can someone please explain if this is ok to do? I’ve worked with other realtors and didn’t have to show anything until an offer was made.

[Jeff Copeland]

It's not an uncommon request. In fact, it's a fairly common brokerage policy. 

Pre-approval or proof of funds shows that you are serious, willing, and able. You'd be surprised how many people will waste a realtor's entire weekend looking at houses with no ability to actually buy anything (or at least not anything they're asking to see). There are only so many hours in the week, and showing homes to unqualified buyers is simply a complete waste of time in many cases. 

Asking for ID is a realtor safety issue. Realtors are often alone with potential buyers in vacant homes and remote locations. It's not unreasonable to ask you to verify your identity. Google "realtor murdered" and you'll be shocked by how many headlines pop up.