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Paying for property in cash?

samagyar

My offer on a house in Hungary was accepted. a month ago. Now, just days before signing the contract the estate agent is telling me the sellers wish to be paid in cash?

Is this normal practice? The estate agent is the main one in Hungary and I am not sure why I need to walk the streets with a suitcase of bank notes to pay someone for a house.

Does anyone know if they have any right to make such a request?

See also

Real estate listingsBuying property in BudapestAccommodation in BudapestPopular neighbourhoods in BudapestAccommodation in Hungary
GuestPoster279

Tell the seller to meet you with the agent, and your and their lawyers at your bank. Then the cash can be handed to them within the bank walls. No need for you to walk around with cash. If they what to exit the bank and walk the streets with cash, that is then their problem, not yours. This is how we bought our house.

Quite frankly, I am shocked the "agent" did not suggest this. But, then again... it is Hungary, so actually, no, I am not shocked. The agent is usually working for the seller, not you the buyer. Remember this.

If the sellers insist on cash in hand, but don't agree to this.... walk away from the deal.

samagyar

Thanks for your reply, it is all sorted now.