[quote=deadzone][quote=Coronita]
For example, if I take my $600k cash out refi on one property to buy another property, that is recorded as a “cash purchase” at escrow since there’s no loan on the property in question.

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That sure sounds like an investment purchase to me.[/quote]

DZ, And here you go again. You you take only half of what someone writes out of context and completely ignore the other part in the same sentence, and redirect attention away from your gross ignorance of the things you don’t understand that you comment.

I was specially addressing your absurd accusation that most purchases are either investments or money laundering transactions, specifically the “or money laundering” part.

[quote=deadzone]
Most cash deals are either investor, or to launder money.
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Where do you make this shit up? Post data instead of pulling it out of your ass all the time. You don’t own a house, you don’t work in real estate, you don’t have access to purchase sales history and probably wouldn’t even know how to get it, even if it was in public records. It’s getting pretty ridiculous because even the basic concept of “cash purchase”.. your post seems to suggest you literally thought it meant “bring cold cash to escrow”…which demonstrates just how grossly ignorant you are to things…Where the hell can you possibly be getting this data to back your ridiculous statements?

I’ll post the full text of what I said…again…

[quote]
The source of that cash could be from all sorts of sources. Even another loan secured by another property. For example, if I take my $600k cash out refi on one property to buy another property, that is recorded as a “cash purchase” at escrow since there’s no loan on the property in question. There’s plenty of real world reasons why a transaction would show up as a cash purchase. In the case of moving from a high cost area such as Bay Area down here, selling a $3million home up there and buying something comparable for $2million for a primary residence, that would be an example of a cash purchase. Or a parent could be buying a kid a home to live. You don’t know

…And sdrealtor commented again and said it was owner occupied…
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Even when someone’s complete text is right above your post, you still blatantly attempt to selectively misquote part of things out of context to support your ridiculously factless statements you make, IE “the money laundering” part that calls into question the entirety of what you said.

You won’t admit it now, but you probably did think “cash purchase” literally meant bring cold cash to escrow…because that’s where your “money laundering” statement came from. It probably was based on a business or industry you are familiar with that isn’t as regulated where money laundering is widespread, maybe the jewelry trade business, i dont know…..but otherwise irrelevant to RE purchases, which undergoes much more scrutiny, which you most likely aren’t aware of, because never bought a house and gone through escrow, and the plethora stack of documentation that goes back and forth in escrow..especially in present day CA…Yes, even when it is a loan-less (IE “cash” purchase) where cash funds can be easy traced back to their sources…Can’t even imagine, what sort of hoops one would need to jump through if someone actually brought cold cash to escrow, lolol. You should try it one day, if you can…let us know how it goes…
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Back to examples of legitimate owner occupied home purchases….lot’s old people that are relative’s friends have downsized post retirement and bought their homes with cash, equity from the previous sold house used to fund the new home purchase, and carry their property tax basis over to the new home under Prop 60/90 in CA.

Also, given that San Diego is in a really nice part of CA, away from LA and SF, some people buy a 2nd vacation home down here. A friend bought a condo for their kid that goes to UCSD and another one for themselves so they can visit down here, they did a cash our refinance on one of their other homes to fund both. These aren’t rentals, because they don’t want to deal with tenants. It’s strictly for their kid and themselves when they are here.