# Purchasing home using cash feasible?



## FifthElement (May 18, 2016)

Dear all,

I have recently obtained the 190 visa.

Is it a feasible option to purchase a home using cash? Would it be against any laws? Would the ATO probe the source of funds ?

Scenario: Purchasing a property worth $450k in cash, I am currently living offshore and will be unemployed when I move to Australia towards the end of the year. My source of fun will be from family.

Thank you.


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## JandE (Jul 17, 2015)

No problems at all. 

They don't ask.


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## FifthElement (May 18, 2016)

Thanks JandE, appreciate it.


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## Expat Assist (Feb 12, 2016)

It is highly unlikely a real estate agent will accept cash for the transaction! Also, if you are not an Australian resident, here are also stringent Foreign Investment rules, so I would be seeking further clarification (particularly as recent changes were made to foreigners investing in Australia).
Good luck!


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## JandE (Jul 17, 2015)

Expat Assist said:


> It is highly unlikely a real estate agent will accept cash for the transaction! Also, if you are not an Australian resident, here are also stringent Foreign Investment rules, so I would be seeking further clarification (particularly as recent changes were made to foreigners investing in Australia).
> Good luck!


The subclass 190 is a permanent residence visa.

As far as cash is concerned it would normally need to be deposited into the relevant bank account.

I paid a deposit for a house by cash to the real estate.


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