Yes, a nice little chunk which helps to carry house.
No, they were aware of the implications and luckily have already signed the Cancellation and loss of earnest deposit.
Thanks for all of the replies and thoughts everyone. Buyer decided to back out, they forfeit their earnest money but I was told they couldn't get it figured out. Oh well, not the right buyer.
No I was told into his own account. I believe any deposit over 9,999; the bank has to submit some form of paperwork. All the info I have is second hand which makes things difficult.
Yes, buyers bank needs proof as to where he got the funds.
I'll pass along the 401K loan option.
Apparently he does have a bank account, but had money "stashed" away; reasons unknown.
I wouldn't be too interested in solutions normally, but we've had the house on the market for 9 months and...
Hi all,
We are selling our house in Iowa and recently went under contract, but have hit a snag...
Buyer apparently has a large amount of cash(40K) that he's been saving over the years. Also, he buys/sells cars on the side. He went to deposit the money into his account to fund the down payment...
Well if you do go with it, best of luck! Looks incredibly clean and yes you will definitely have some maintenance items but I still imagine it will be a great vehicle. Just put the vibes out there that it will be a good car, can't worry too much about the things that "might" be.
Update:
The CX-9 is still in the stable and wife and I both still really like it. She's sitting at just shy of 75K miles now. For a while I was racking up a ton of miles on it, but not so much now as my wife works from home and I commute in the Crown Vic.
There has been zero repairs since the...