Purchasing a home with an IRA investment Account

[Ed Walker]

Good Day BP,

I am looking to get a bit of advice to assist my client the best way possible. I am a realtor here in VA and I have a client that is currently living in NY that is working on purchasing a home down here to live in. My client has an investment account that has about 35k in it and they wants to pull it out to put down on the purchase of their new home. The problem is that they have an accountant that has informed them that if they pulls the money out now along with IRS fees and bank fees that it will cost them a little over 12k to do so. Is there a process or procedure that can help my client out so that they don't lose so much. I am not talking about anything that will get them or I into trouble.

Any sound advice would be helpful.

Thanks