Buying real estate under my name, but money coming from someone else

[Rachel Marshall]

Hi guys

I don't know much (to put it more accurately anything) about buying real estate. Right now I am in a unique situation and I have a concern.

I want to buy a residential property. I am still undecided if it will be a condo or single family home or duplex. The property will be in my name only. I will be the only owner. However, part or all of the money to buy this property will be coming from someone else's account. This someone is not in any way related to me. It's a complete stranger. 

If I buy this property and the money comes from someone else's account, will that raise any red flags within the IRS systems? Would they know/care if the money comes from someone else's account? FYI the account would be US based, not outside the country. If I do this, will IRS (or any other government entity) start looking at me and wondering what's going on?

[Nathan Gesner]

Quote from @Rachel Marshall:

Talk to your lender. They will have requirements on how you can document the transfer of funds. You can't buy a property with a handful of cash (or transfer from a stranger's account) unless the lender can prove exactly where it came from.

[Rachel Marshall]

Quote from @Nathan Gesner:

Quote from @Rachel Marshall:

Talk to your lender. They will have requirements on how you can document the transfer of funds. You can't buy a property with a handful of cash (or transfer from a stranger's account) unless the lender can prove exactly where it came from.

Hello,

I don't know what you mean by lender. I would be paying all in cash. The price of the property would not exceed the cash coming from the stranger's account + possible cash coming from my account.