Requiring buyers to provide Proof of Funds
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?