<prompt> Human: I have been looking for a house for several months and have finally found one I may want to purchase. However, it is a cash only sale. While I am pre-approved for a loan well over the price, this will not help me. Therefore, I have contacted my father about a possible loan. He is okay with it, however, I wonder how this actually works. Would a seller wanting cash only generally give enough time for the funds to transfer from my father to me? It is a hot sellers market. Would a traditional bank wire transfer be able to transfer 150,000 and do it in a safe,timely manner? I want to make sure that we do it correctly so that it doesnt fall under a gift, which it is not, so that it is not susceptible to those taxes. Would we be able to draft our own loan contractpromissory note or would we need a lawyer? Additionally, I live in Texas while my father lives in a different state. Any help or insight is greatly appreciated for this first-time home buyer, thank you.  <response>: Im gonna tell you the best thing to do is to contact a lawyer that is local to you that knows the local laws. If you really want this house it is best to find a professional. People on here might give you good advice but someone whose job it is to know this stuff will be your best asset. 