Buying or Selling a Home/Payments of gold


I have a question that I'm not quite sure if I h ae the right person for this question. I heard somewhere that if I was to buy home with gold payments that the home would be free and clear of every being taken by anyone.  Do you know if there is a difference when buying a home with US currency vs gold payments? Or is there a benefit one over the other? I am looking to buy land and home on the east coast without a mortgage, but wondered if there is something to what I heard.  Thanks for any help you may give!!!

Dear Marsha;
The seller doesn't usually care how he/she is paid a long as the price is agreed upon.  Usually a Buyer secures a mortgage for the bulk of the cost to buy the home.  This may be the source of the information you were given about paying in gold.  Since a mortgage means that the owner has not really completed payment in full there is always a risk that the bank could foreclose on the buyer until the home is paid off. As for the difference in cash payments; the law doesn't protect against one over another since the legalities of home ownership are in the recorded deed.  Regardless of how much or in what legal tender; if the deed is recorded correctly the new owner is protected within the limits of the law.  This does not insure against certain government functions like eminent domain. The other consideration is that the contract is written correctly.  If the contract states that the buyer will pay the seller a certain amount of money and if for some reason the seller doesn't accept US currency then the home and contract could fall through; however, once the seller signs off on the the deed and it is legally transferred and recorded the new owner is protected.

I hope that this has answered your question.

Warm Regards,
Jessica Bryan

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Jessica Bryan


buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.


Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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