Show Me The Money!

By
Real Estate Agent with Cedar Rapids/Iowa City, IA KW Legacy Group S44645

I have seen a few annoyed "would be" cash buyers stating they are OFFENDED that all these real estate agents just want to see their proof of funds. OFFENDED? Really?!?!?  As though a stranger's word is enough to put them in the car and show them homes?  Sorry, but no.

woman with a thumbs down

 

As a listing agent I would be OFFENDED if the buyers agent DIDN'T have proof of funds before they showed my sellers home.  What a colossal waste of everyone's time.  

 

Think about what needs to happen in order for a buyer to see a home on the market including the time that it takes for the seller to prepare for the showing and arrange to be out of the house, kids, dogs or other pets in tow.  All for not if the buyer is not pre-qualified to buy their home.

 

Ulimately, we as agents, need to protect ourselves.  If a buyer has met with a lender, we know that the people are qualified to buy.  This means that we have a valid client and that we are safe.  It is no longer a stranger that walks into an open house off the street or an internet contact where we don't know their true intent.

 

People that have real intentions to buy have no problem providing a proof of their ability to do so.  The ones that resist providing documentation of cash set off red flags.  So please don't take offense if I ask you to show me the money.  It is my job!

 

Keep smiling!

 

Karen

 

 

Posted by

 

Karen Feltman, REALTOR®, ABR, AHS, CHMS,                                                                      CNE,CRS, e-Pro, green, GRI, SRES, TRC

Keller Williams Legacy Group

4850 Armar Drive SE Ste B

Cedar Rapids, Iowa 52403

Email: karenfeltman@gmail.com

Mobile  319-521-0701

www.KarenFeltman.com

Licensed in the State of Iowa

© 2010-2018 by Karen Feltman, Cedar Rapids/Iowa City Relocation Specialist 

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Topic:
Home Buying
Location:
Iowa Linn County Cedar Rapids
Groups:
Active Rain Newbies
Realtors®
Point 2 Agent Sites
Iowa Real Estate
Addicted to Active Rain
Tags:
seller representation
buyer representation
buyer agent
cash buyer
proof of funds

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Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Karen, I have seen this too, and tell every buyer, either a lender letter or proof of funds is needed before we start looking at homes.   It is a waste otherwise!

Mar 21, 2017 09:26 AM #1
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Karen

It's such a waste of everyone's time, but I find most cash buyers who are serious understand. The same holds true for submitting a cash offer - a POF should always be included.

Jeff

Mar 21, 2017 09:39 AM #2
Rainmaker
3,106,067
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow Karen, if they are smart they would not have a problem with giving the information.  That would be my policy.

 

Mar 21, 2017 09:54 AM #3
Rainmaker
751,086
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Very true, sometimes you can read a client and know they are going to be fine for the money, but never hurts to ask for proof and as you say gneuine buyers always understand. If not ego is probably getting in the way.

Mar 29, 2017 01:19 PM #4
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Karen Feltman

Relocation Specialist in Cedar Rapids, Iowa
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