Buying a House with Cash

[Anonymous No.1788489]

Hi /biz.

Someone who isn't me wants to purchase some land and a house.

They are not employed, but have a large sum of un-taxed cash to use.

What legal hurdles would they face, if any, from purchasing land and a house using only physical cash?

[Anonymous No.1788500]

lol gl u gotta know the right plp

[Anonymous No.1788512]

>>1788500
Even when buying straight from the owner, leaving banks and everyone out of it?

[Anonymous No.1788610]

If the money is in an untaxed fund like an IRA or solo 401k, there's no problem. Hell, you can even get a mortgage on it if you can find a bank that does non-recourse loans.

This is what I may do soon.

[Anonymous No.1788632]

>>1788489
I bought a commercial property using "cash" (money in the bank), I wired the money to the title company and they transferred the deed into my name.

I assume your "friend" (aka you) obtained this cash illegally which is why they want to do it in actual cash. You could always get a big money order at a bank.

[Anonymous No.1788746]

>>1788610
They have it in physical cash.

>>1788632
Would them acquiring this property not raise red flags somewhere? They aren't employed and have no record of receiving this money.

Or would it be as simple as buying a used car from a private owner?

They just fear that a property, suddenly getting paid for in cash in their name, could bring issues.

[Anonymous No.1788767]

>>1788489
>transfer tax
>title/escrow company
>capital gains tax for the seller
>where does the seller put the cash without getting in trouble with the IRS?

[Anonymous No.1788790]

>>1788489

You are gonna need some clever money laundering but this can be done.

My suggestion would be to launder the money through a business. There a many simple ways to use this method and not get caught.

[Anonymous No.1788798]

Not reallt related by when my Granddad died he left a suitcase with $200,000 in no one knew about, and he never ever mentioned.

The family just split it and slowly spent it though, but still

[Anonymous No.1788810]

>>1788798
>Man spends his life time collecting 200k in secret
>Progeny find it and spend it in months
idk why this is so sad to me

[Anonymous No.1788816]

>>1788500
the fuck outta here with that garbage.
You can buy anything with cash.

[Anonymous No.1789040]

>>1788489
If this was an inheritance and over 5.5 million (or whatever the exemption is nowadays) then they can use a loophole where within the same quarter they use the funds to buy a property.

If this is from capital gains then they should INC, and set up the home and sublet one room or a portion of the property and site it as investment.

if this is from "gray" markets, go to Taiwan, Russia, Dubai, or an African state not including Egypt/S.Africa/ Morocco and buy property there as most of those countries will allow citizenship if you are buying a home and going through renunciation.

And finally if this is from Black market do the same as gray but instead of buy property buy a cash in hand business and use money from the business to buy property. The US government cannot track (w/ out large resource allocation) foreign pedestrian money. The cartels use this to launder money.

[Anonymous No.1789566]

>>1789040
Thanks for explaining their options and in such detail. The earnings are definitely Black, but leaving the US isn't an option.

What if they started a small business in the states and grew it over time; injecting their cash into it slowly?

They feel like this is their only option since they cannot leave the country.

[Anonymous No.1789601]

>>1788810
Because it reminds you that people are mostly selfish worthless and stupid, and that your kin probably will be as well in their treatment of your fortune?