Quote:
Originally Posted by kathyspear
We have (in the past) paid cash for real estate purchases. We had to show proof of funds. They didn't just take our word for it that we had the money.
kathy
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Once again I did a bad job of explaining my point of view. It was tossing around the phrase we have a cash buyer to me is insignificant as a seller. No matter what transaction takes place I get money (check) at closing. I don't care whose money, client or bank. If a real estate agent brings an offer to me from a client that is seeking a mortgage it's a pretty good bet the agent has prequalified the client or it would be a waste of both my and the agents time.
Showing proof of funds - did you have to show proof of funds before you looked at the house or as part of the offer ?
The world has changed relative to the stigma of I am a cash buyer. Watch buying a car video and one of the first rules is never tell a dealer you are a cash buyer - you just cut into the kickback they get from the finance company.