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What would you do if you found $40,000 in a house you just bought?

Discussion in 'Sports and News' started by bigpern23, May 20, 2011.

  1. Shaggy

    Shaggy Guest

    I don't think I could've kept it.

    If it was $1,000, I probably would've kept it.

    $40,000, I would give it back.

    That might not make any sense. I realize that.
     
  2. Football_Bat

    Football_Bat Well-Known Member

    You'd have to cash it and deposit in smaller bills to avert the longing gaze of the Fed. Good luck.
     
  3. Mystery Meat II

    Mystery Meat II Well-Known Member

    Legally I'd be clear to keep the money, but privately I'd know that I didn't have the moral rights to the money, at least compared to the surviving members of the person who owned the house and ostensibly was the reason the money was there in the first place.
     
  4. westcoastvol

    westcoastvol Active Member

    This is total horseshit.

    When you buy a house, you buy the good and the bad-the roof that needs replacing in three years, the leaky windows, the outdated kitchen.

    And if 40 large just happens to be found somewhere on-site, then you bought that too.
     
  5. micropolitan guy

    micropolitan guy Well-Known Member

    Some friends of mine and I talked about this. Easy to "launder" the money, especially since it was found in small bills. Pay cash for gas. Pay cash for groceries. Pay the water bill in cash, etc. All routine cash transactions. Then sack away a corresponding part of your normal paycheck.

    It's the big expendatures that raise eyebrows, not an extended period of small ones.

    And I have to agree with WC Vol. When you buy the house, unless it's specifically agreed to in the deal (new roof, etc.) the house and it's contents are yours, warts (or, in this case, $40 K0 and all.
     
  6. LongTimeListener

    LongTimeListener Well-Known Member

    How is it horseshit that the new owner did what he felt was right?
     
  7. Jake_Taylor

    Jake_Taylor Well-Known Member

    My great grandfather was similar, if not as extreme. He did pretty well as a farmer after The Depression, largely because he never spent more than he had to, at least not until he was old and wanted to spend it on his grandchildren and great grandchildren.

    He put his money in banks, but never more than 10 percent of his worth in a single bank. He had accounts all over the state.
     
  8. Guy_Incognito

    Guy_Incognito Well-Known Member

    I warn my students on the first test that I return to them (I teach) that I correct all mistakes, including those that work against you - I'll take away points. I know most teachers say that as a reward for the honesty, they don't correct it, and to some extent this makes me into the jerk, but I think that the message that gives is terrible. By not taking away the points, we teach them that it's very important to be honest as long as there is no personal consequence to you. The worker at the check-out line is not going to tell you to keep the extra $10 in admiration of your honesty.

    I sure as hell hope I'd give it back.
     
  9. doctorquant

    doctorquant Well-Known Member

    So if you sold a house and, at some point after (but in reasonable proximity to) closing, the new buyers found it needed $40K in repairs, you're saying you'd pony up?
     
  10. Guy_Incognito

    Guy_Incognito Well-Known Member

    Every RE buyer brings in an inspector who needs to find those - it's assumed and agreed upon that after that, you buy it as is. Not saying you're required to give it back, but it's the right thing to do.
     
  11. BrianGriffin

    BrianGriffin Active Member

    $40k can get you out of PMI in a hurry. Just sayin...
     
  12. bpoindexter

    bpoindexter Active Member

    What the guy did was very cool. To put a different spin on this, if it were me, I'd research the previous owner. If the previous owner passed and there was no obvious surviving family, hey, do something good with it (savings, home improvement, vacation). If the previous owner were a known drug dealer, I'd probably hang onto it in case I got an unexpected knock on the door one day in the future. "Here it is, every penny."
     
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