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Updated over 8 years ago on . Most recent reply
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Financing
Guys I have a cash buyer who has a large amount of cash. The cash is not in the bank is in his house. His concern is how can he structure a transaction by paying actual cash for the property and not having to put his money in the bank?
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- Northeast, TN
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You will definitely see some people getting visits from the authorities if you show up to close on a property with $400k cash. None of the title companies I work with would even accept this method of buying a house - they're not going to stack hundreds in the backseat of their car and drive over to the bank.
My prediction: this deal never happens unless they put that money into some type of institution from which they can get certified funds.
Question: why does he not want to put his money in the bank? This usually points to something illegal.
- JD Martin
- Podcast Guest on Show #243
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