LandInvestors.com Forums **Ask A Question** A literal cash deal – Would you?

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    Shabadoo
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    Post count: 15

    I am speaking to a prospective buyer for a property that is less than $3,000, but he only wants to pay cash. Literally cash. He is one of those guys that has a huge mistrust of banks and seems like the kind of guy who often shakes his fist at kids who play on his lawn.

    I have already asked about other methods (yes I covered them all) but he said he only be willing to pay cash for the deed and that’s it. Anything else is too much bother. I have spoken with him at length and he doesn’t seem shady, just eccentric and maybe a touch paranoid but I see no problem with him as a buyer.

    It is a small deal and I intended to self-close through a notary since I do not live any where near this guy. Of course I have a concern about him paying cash to a notary.

    So… would you do it? How?

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  • Alex
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    Post count: 27
    Pro

    I’ve dealt with this in construction sometimes where people want to pay in cold hard cash (or gold/silver) for services rendered. The difference is we have the ability to meet in person so large sums of cash arent an issue. Being far apart is not a good idea for transferring large sums of cash between strangers. I would absolutely not recommend it unless its you and him in person. He could pay by wiring money through someone like Western Union or something and pay the fees. Unless another member has experience with this I would try and persuade the guy to do something else. I wouldnt trust transferring thousands in cash through a third party. Most notaries wont handle cash anyways

    Michael Aillon
    Participant
    Post count: 294
    Pro

    What are you using a notary for on a sale? Tell him to go get a money order and mail you the amount. Consider, moving on from this buyer.

    Alex
    Participant
    Post count: 27
    Pro

    I was just referring to an intermediary really. For smaller transactions a notary is used so I just used that as an example. I should have been more clear

    Rod Hall
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    Post count: 306
    Pro

    Just need to find the right notary

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