All Forum Posts by: John Stephen

The whole deal is cash with just a bill of sale/deed, so no lenders/mortgages involved.  We have a lot of folks around here with legal cash businesses so no surprise they aren't reporting everything.  I'm thinking they just want to run half through the banking system and "other valuable consideration" is the briefcase.  I'm taking care of my realtor on this no matter what (my agreement), but all other costs would be paid for by the buyer.  No appraisal, no repairs, no nothing.  I know his plans and my setup is ideal for his needs.  I don't know much about hiding money and don't plan to, but as a Seller I want to find a creative way to accommodate. 

One person did say, sell him an option for the lower price and let him exercise it.  But I don't much about those.

While the total $$ offer is acceptable, BUYER approached and said they would buy the property if they could do half at closing on paper and half in a briefcase in cash. My thoughts are ...um, lemme do some research. One lawyer suggested it could be listed as "XX dollars and other valuable consideration." Realtor is on the fence about it, but probably because final sale price is reported to MLS and how to pay her agency fees would be shown as half-price. As I have both moral and professional license reasons, we would not be us hiding anything and deposits would be made into our bank so we'd still have capital gains tax. It's just BUYER who wants to pay that way because he's likely a cash-business, has it stashed and doesn't want the full amount on the deed. What would you do? A formal written offer has not been submitted to me yet by the realtor because I think everyone is feeling me out.