What is required to verify a buyer's identity?

To verify a buyer's identity, a passport or driver's license is essential as these are universally recognized forms of government-issued identification. They contain critical information that helps establish a person's identity, including their full name, photograph, and date of birth. This verification is particularly important in real estate transactions to ensure that all parties involved are legitimate and to prevent fraud.

In contrast, a previous purchase agreement is not a method of verifying identity; it refers to a record of a past transaction without proving who the buyer currently is. Similarly, a social media profile cannot reliably confirm someone's identity due to the potential for fake or unverified accounts. Lastly, while a business registration document may validate the status of a company or entity in transactions involving businesses, it does not serve as an adequate means to confirm an individual buyer's identity. Therefore, a passport or driver's license is the most reliable and accepted method for identity verification in real estate dealings.