"There should be a government body who has a register of buyers who are allowed to bid at an auction for example. These buyers must show loan pre-approvals and funds available to prove they can bid to pre-nominated amounts".
So you think we should waste money by setting up a government department for something so minor?? What if I decide a few days before an auction that I want to bid on a house and I register with this department but they don't process it in time?? What if I intend to pay cash??
