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Cash buyers, please show me the money.

As professionals who value our time, we should always make sure our new prospective buyers are not only willing but ABLE to purchase a home before we take the out.

When it is a financed purchase, we require their pre-approval letter or we refer them to a lender in order to get pre-approved.

Why don't we required the same "ability to buy proof" from for cash buyers before showing them first home? kw4tij5usy

Help lots of people and have a great day!

Patty Da Silva, CDPE©, RESS®, AHWD®, e-PRO®, GREEN, CFS
BROKER - Owner REALTOR® - Green Realty Properties

Visit www.pattydasilva.com for SouthEast Florida's best properties.

Posted by Patty DaSilva, CDPE©- Certified Short Sale Expert- e-PRO®- Ft Lauderdale on 05/10/2009 11:06 AM

Comments (6)

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6 Comments on Cash buyers, please show me the money.

MAY

Patty, I believe that most of us do require a Letter of Guaranteed Funds from our cash buyers. -Don't we?

Maria,

Hi! I don't actually know... I am sure some do (that would be the right thing to do of course), but I think most feel uncomfortable asking for proof of funds BEFORE taking a prospect out for the first time.

What is your policy?

MAY

Patty - If the "CASH" buyer can not produce a HARD Proof of Funds at our first meet than I do not show them any property until they do. I generally require a letter from their bank on letterhead with a name and number of a contact person to confirm accounts and/or a copy of a staement showing proof of funds to close. Hope that helps.

Laura,

Thank you for sharing. I think that you are absolutely correct!!!

MAY

Patty I move NO WHERE unless you show me money via lender OR bank professional who authored the letter I speak direct with mortgage broker OR bank whose name on letter BEFORE I consider client

Lynn,

Our time is so valuable and we should do the same verification procedure for cash buyers as we do for buyers who are financing.

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