A fellow around here bought a million dollar house without ever being inside. The buyer and the seller never clapped eyes on each other until the signing. The seller told me that when he came in to the notary to sign, he had no idea which of the guys there was the buyer and which the notary.
The house wasn’t for sale and wasn’t advertised on Zillow, so the buyer never saw any pictures. He just wanted it and kept sending offers until the owner agreed.
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There’s got to be more to the story than that.
The buyer may be a real estate speculator who just wants to turn houses for profit. I get several unsolicited telephone messages a month saying, “I’m interested in buying properties in your neighborhood, and I’ll pay you cash for your house right now, as it is. Call me back and give me your price if you’re interested…”
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Buying houses unseen and then reselling them later is a serious money-laundering scheme. If you want to give someone a million dollar bribe, say, that person buys a house and later sells it to you for a million dollar profit. This makes the payment to you look legitimate. And, if enough time has elapsed, the million dollars is taxed at the much lower capital gains rate, not as ordinary income.
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