Can I buy a home with cash without getting into any legal trouble?
home cash From Home Cash ad
I am looking to purchase a home under ,000 with cash and no proof of income. I work off the books. Is there a way I can buy a home this way without getting into any legal trouble? What should I look out for?
Thanks
You can attempt to purchase the property but you will get into trouble. Any financial transaction over $10k is reported to the IRS (sometimes under $10K also). Since you have no income, you cannot purchase a home.
Also, the IRS can review your bank account and since you don’t have any income, you shouldn’t have $50K in the bank. Eventually, the IRS will catch up with you. Start saving your money now because the penalities will be coming.
yeah but with any thing that is pricey that you pay cash for the irs takes look in to your record and bank records