Do you need a tax return to buy a house?
But to those people who do make a lot of money and saved up $500,000 and have proof of income... lets say they were making like $200,000 a year and saved enough to buy a house without borrowing and it showed $200,000 in their tax returns, can this person just pay the seller in cash? Or is cash not preferred?
What is the usual method a person who buys a house pay by? Is it a check, bank wire? But if he pays it all in cash, wouldn't the seller have to bring all that money to the bank to deposit it?