Home Buying in 29033>Question Details

Esme, Home Buyer in 29033

can i buy a house in full with cash with no income verification? will the IRS be notified upon my purchase?

Asked by Esme, 29033 Thu Oct 20, 2011

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Esme,
Cash deals these days are not actual 'cash transactions'. You will need a way to wire the money to the escrow company or bring a cashiers check. So there will be some type of trail if that's what you are asking.

I am not sure about reporting on the purchase, but the sell of a home is likely reported....best to ask an attorney or your local title company about that.
0 votes Thank Flag Link Thu Oct 20, 2011
You won't need income verification because you are not borrowing money. Not sure about the IRS.
0 votes Thank Flag Link Thu Oct 20, 2011
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