Requiring a proof of funds is a very good policy.

Jeff - All offers pretty much require a proof of funds or pre-approval letter from the lender when submitted, or they won't be taken seriously. In regards to Earnest Money, typically needs to be submitted upon contract approval.

If I submit a cash offer, definitely provide POF, as well as when I am the listing agent.   We typically don't get copies of the EM check anymore.

Yes,  POF are needed for cash offers.  They can delete their personal account information.  The title companies in our area send copies of the EMD when compelted and we keep these in our file.

I require a copy of the EMD and a prequalification letter.  I ran into a problem where the buyer had some of his money in a safe deposit box.  Proof of funds earlier would have resolved that issue.

I only provide it when required, mostly for reo properties.  For others our reputation of never having failed to close on a property in several decades of investing gets the offers accepted

Yes on both counts since we are so geared to electronic forms and digital signatures.

As a listing agent if it's a cash offer I want to see proof of funds. If its a loan a pre-approval letter. Always a copy of an acceptable  EMD and Option check.

I do require it and I make sure it is sent to the listing agent the next day, so the lender can put the address on the letter.

you have to be careful these days with POFs.  There are places on the 'net where you can get fake ones.

I do require a copy of the earnest money unless there's an alternative EM date in the contract. While a pre approval or proof of funds letter is nice, it's not always required. 

If I submit an offer, I submit POF if the buyer is paying cash and a pre approval if they are financing.  I set the EMD to be turn in within 3 days after binding agreement day. I normally submit a copy of the EMD to the listing agen once collected.

Usually, I submit POF and  copy of the escrow check with the offer and appreciate it if others do the same. Most offers I get come with POF but not necessarily with a copy of the deposit check. However, our contracts have a provision to provide EMD within three days of acceptance so it's not such a big issue. 

Yes.  Most sellers require it.

Yes and yes.  

I ask for proof on cash deals

Proof of funds upfront before discussion it or what is the point of discussing?

Yes, proof of funds or approval letter is pretty much a given here these days. What is a EMD?

I only submit if it's asked for in the MLS.  I always have it on hand, but only submit when asked.  

And we typically now collect EMD after an offer is accepted. Our contract actually states EMD of ____________ amount to be paid within _____ days of accepted offer.  (most everyone uses this method in my market)

I forgot to include a copy of the EMD on an offer last night and the agent requested it. In my experience, most agents in this area want POV on a cash deal and a copy of the check on all transactions.

Jeff Dowler CRS Yes, if it a cash deal. I always submit a copy of the EMD check with the offer.

Yes, I would not send or accept offer without a sufficient POF and PQ from a lender . 

It depends on the home and the circumstances.  Sometimes, is the best answer I can give you.  It's a state requirement that we see confirmation of the EMD.

Yes, I provide proof of funds with offers and require proof of funds to be submitted with offers.  Copy of an EMD ... with proof of fund and most folks wiring money into escrow ... the proof of funds covers that ... in my opinion.

 I do require Proof of funds for cash offers and for  large earnest money deposit ....

Jeff,
The Colorado contract provides for “alternative earnest money deadline” so earnest money is always deposited after the offer is accepted.

We have a very high ratio of VA loans here with zero down so there is no need for POF. On upper end houses we might require POF.

All cash offers here require proof of funds or they will not look at it.

When the EOD is gotten all offices in the transaction need to have a copy.

I include the EMD or a photocopy with the offer. If the seller required BFI than that is submitted next. 

we always receive a copy of the check....or the original if the offer is hand delivered....

always I feel like submitting an offer without is stupid.  Buyers don't always like hearing that.

In our area: EMD, POF, OFFER, Release of some contingencies like inspection or often remove all contingencies at the time of offer .except loan approval.

With a loan, we have loan agent calling listing agent stating strong buyer and pledge close at promised. 

Sam Shueh

We are required by the state to have a copy of the EMD in our file. I want to see a POF early in the transaction to see if the buyer has their ducks in a row.

I plan to provide proof of funds (cash / seller-financed) or pre-approval letter (financing) in the exact amount of the offer only. Otherwise, we're tipping our buyer's hand in terms of being able (if not willing) to pay more and that's not in their best interest.

Earnest money would be delivered with the offer, or, if using an alternative deadline, as per the contract with no prior proof of funds for this required or provided.

Yes and yes to both. 

Yes and yes, if cash offer. If seller financed, proof of funds to close. I add verbiage that earnest dep is to be mailed or wired to arrive no later than x business day so there is a dropdead.

Proof of funds or pre approval letter yes.  EMD not really.

Only if it's a cash offer when I'm writing an offer

Proof of funds yes at time of offer.