So I sold a property for cash and this happened

I usually sell property on credit, but my business life is winding down. I recently discounted a couple of lots and told the customer it was a cash price. The day before closing he tells me he has been pulling five or six thousand out of his account every week and has the $44,000 in cash available. FWIW, I made it clear to him, no, no, no, and that he had to redeposit the money and get a cashier’s check. He thought by “cash price” I wanted a pile of Benjamins.

I might add that the above-referenced guy was Hispanic. I have had several Hispanic buyers attempt to pay me for land with large sums of cash (say between $40,000 or $100,000). And I repeatedly have to explain to them that they need to get a title search before they buy a big piece of land, and that “no” I can’t take cash for the sale. Yes, there are people who are willing to pay $50-100,000 in cash for land without conducting a title search.

My sale closed. I owed nothing on the property but $12 in unpaid tax. Part of me wishes I had $45,000 in cash sitting in front of me right now. I held back $5,000 from my deposit just to have a little folding money, so that will have to do.

submitted by /u/EarlVanDorn
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I usually sell property on credit, but my business life is winding down. I recently discounted a couple of lots and told the customer it was a cash price. The day before closing he tells me he has been pulling five or six thousand out of his account every week and has the $44,000 in cash available. FWIW, I made it clear to him, no, no, no, and that he had to redeposit the money and get a cashier’s check. He thought by “cash price” I wanted a pile of Benjamins. I might add that the above-referenced guy was Hispanic. I have had several Hispanic buyers attempt to pay me for land with large sums of cash (say between $40,000 or $100,000). And I repeatedly have to explain to them that they need to get a title search before they buy a big piece of land, and that “no” I can’t take cash for the sale. Yes, there are people who are willing to pay $50-100,000 in cash for land without conducting a title search. My sale closed. I owed nothing on the property but $12 in unpaid tax. Part of me wishes I had $45,000 in cash sitting in front of me right now. I held back $5,000 from my deposit just to have a little folding money, so that will have to do. submitted by /u/EarlVanDorn [link] [comments]

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