Re: Cash (not check) downpaymen
04-21-2012 07:56 AM
So my dad is going to give us a gift for our downpayment of $3,000, but he's "old school" and wants to just give us cash. Right now he gets paid cash from his job, and he has set aside $3,000 for us (literally, 30 $100 bills in an envelope for us). He doesn't want to deposit the cash and give us a check. So, what options do we have? I know we have to have a paper trail. Can he take the cash and get a money order or cashiers check or something? Or the other option I thought of was giving the cash to someone else to deposit, and then getting a check from them.
He needs to deposit that cash and give you a cashiers check... Also they are going to want a paper trail from his bank account to make sure the money is legit. They do this to combat money laundering
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