Here’s a quick overview of why proof of funds is very important.
Today I want to explain the importance of proof of funds. As a listing agent, if you get a cash offer or a cash offer mortgage-allowed, you should be getting proof of funds from the buyer. It is your job to protect your seller. If you aren’t gathering proof of financial stability, you aren’t doing your job.
I’ve seen situations where agents have presented these offers and haven’t provided proof of funds. Ask the buyer if they have it and whether it’s in a U.S. bank. Please be careful and make sure that you are constantly taking care of your client because they’re your responsibility.
If you have any questions, don’t hesitate to call or email me. I look forward to hearing from you.