Posted by eric on September 08, 2004 at 09:58:30:
Why not just go to the bank and get a check? I’m not aware of any specific laws that prevent the use of large amounts of cash, but there are reporting requirements for the recipient. That generally triggers a lot of interest by the DEA, US Customs and the IRS. I wouldn’t want that kind of scrutiny. Can you say audit???
Can buyer pay $500K in cash for property? - Posted by michelgorin
Posted by michelgorin on September 08, 2004 at 08:56:39:
Does anyone know if there is any law against paying for RE purchases in cash, regardless of amount? For example can someone pay for a $500K property in cash at closing. Is there a law against that? Is there a law that says you can only pay with a check, certified funds, wire transer and other such documented methods of payment. thanks.