$100K+ USD for apartment can seller legally insist on cash?

[toast]

I would much prefer to pay for an apartment with a bank transfer. I'm adverse to a drug dealer like cash transaction, carrying a gym bag of $10KUSD bricks on the streets. If the seller can choose the place of the closing, can they legally insist on cash payment? Or is under reporting income propped up by the collusion of realtors and the sellers, while the govt turns a blind eye?

 

[Ronnie Hotdogs]

Cash dollars is probably the majority of how sales are done in Argentina.

$100k in 100 dollar bills isn’t that hard to carry around.

 

[toast]

any suggestions on a lawyer specializing in real estate?

 

[toast]

Cash dollars is probably the majority of how sales are done in Argentina.

$100k in 100 dollar bills isn’t that hard to carry around.

Why take that risk exposure? Such a loss would be devastating.

 

[Ronnie Hotdogs]

Why take that risk exposure? Such a loss would be devastating.

Because if you want to buy a property the seller can demand it.

If you don’t want to assume the risk you may have to look for someone who will accept a transfer outside of the country, which isn’t common and might not be the apartment you want.

Up to you where your risk tolerance is.

 

[Ries]

see if you can do the closing at a bank, most will have a room just for that, and you transfer the money to the bank, they roll out the benjamins, run it thru a counting machine, and slide the piles to the seller, the escribano, and realtor if there is one.

 

[nikad]

That is the way 99.99% of real estate transactions are done here, if you don't feel comfortable you can try to find an expat or seller willing to handle it differently, it will not be easy. When in Rome...

 

[gringoexpress]

The cueva you work with should be willing to deliver the cash at closing to the escribano's office or inside a bank or whatever, so you aren't carrying cash around the street at any moment.

 

[nikad]

see if you can do the closing at a bank, most will have a room just for that, and you transfer the money to the bank, they roll out the benjamins, run it thru a counting machine, and slide the piles to the seller, the escribano, and realtor if there is one.

The custom is that buyer picks the notary and seller pick the point where payment will be handled, not the other way around ( for safety concerns ).

 

[nikad]

I have been in the situation of dealing with large amounts of cash 2-3 times to pay for RE and as much as I hated it, there was no way around it. Always best to take it with 2 people you trust divided, of course never announce what you are doing and where, etc.