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Don't you aftraid of losing all of your savings due to a robbery? Also if you would want to purchase a house in the future how would you make a payment? IRS won
by usaphp 9y ago
Don't you aftraid of losing all of your savings due to a robbery? Also if you would want to purchase a house in the future how would you make a payment? IRS won't like a diplomat full of cash in hundreds of thousands of dollars? They will have questions.
- thatwebdude 9y agoNo, glass jars are buried in the back yard. It'd take shovels and hard work to be robbed of that!
- emjoes1 9y agoI second that. Tried using cash as a down payment on a house did not fly even though I could reconcile the difference in cash with what I kept in the bank with my pay stubs and deposit/withdrawl records. Underwriters want to see that cash sitting in a bank account.
- Goronmon 9y agoYeah, if you want to use cash, you basically have to be able to just pay for the house in it's entirety. With downpayments, the underwriters really want to make sure you didn't just take out a loan somewhere to finance that downpayment. Showing up with cash in that instance is basically indicating you don't want them to know where you got the money, which isn't going to fly when a person's job is based around playing it safe.
- creepydata 9y agoEven so, most businesses aren't going to want to handle a suitcase full of $200,000+ in cash, unless they are a bank. My lawyer handled all the cash (cashier's check) in my house buying transaction. My lawyer doesn't own an armoured car and doesn't have the ability to handle all that cash.