Can you buy a house for a price and then, at the end of escrow, give the seller extra cash?

Rockinronnyo
Rockinronnyo
Home Buyer
29642

buyer gives the seller an additional amount of cash over and above the purchase price?

Sun Aug 16 2009, 17:56 - Home Buying in 29642 - 2 answers
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Michael Young
Michael Young
Broker
San Francisco, CA

You could actually give cash to whomever you wish for whatever reason, but you will be subject too a "gift tax" for amounts over 10K. What is it you are trying to accomplish? I mean, if a house is listed at 500K and you want to pay 500K, then give them another 10K, why?

Web Reference: http://www.michaelyoungrealestate.com
Sun Aug 16 2009, 20:02
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Sheri Sanders
Sheri Sanders
Agent
Easley, SC
FIRST ANSWER

The answer is no. This is illegal. My question is why would you want to?

Sun Aug 16 2009, 18:03
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