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Updated over 3 years ago on . Most recent reply
Seller wants to avoid an audit!!!!!
Im in the process of getting a duplex under contract. The home owner and I agreed on a price of 25,000. But he says he wants his money in 3 separate checks (9k, 9k, 7k). He says he wants it this way, so he's not audited by the government. What does this mean and is it even possible? Thank you
Most Popular Reply
![Nathan Williams's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1491205/1694987899-avatar-nathanw168.jpg?twic=v1/output=image/cover=128x128&v=2)
Banks are required to report deposits of 10K of greater. Doing deposits like this to avoid this is called structuring and is a felony. Im not sure if you could get an any legal trouble as the payer but I'd be very cautious.