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selling below the price

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we have been approached by a buyer asking if we will sell our house with a combination of cash and cheque.
The idea seems to be that he will pay between 10%-30% of the asking price in cash, and the the balance by cheque. He/we would only declare the latter price to the notaire! We would not contemplate such an arrangement of course.
He is saying that the house is an investment, and not his principal residence, so it is even odder to us that he wants to under-declare the price as capital gains would be even greater!
Has any-one got any ideas of what might be going on here, or am I just being paranoid?
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Regardless of his motives it is my advice to stay paranoid (if he pays the difference by cheque and his cheque bounces you cannot do anything about it as you are only legally selling for the reduced price and if he pays cash he could be money laundering which is an even bigger problem).

Also see post about chap who tried to sell at a reduced price to his wife/exwife and the commune stepped in and bought it at that price, you would be well out of pocket if that happened to you.

Paranoid is the best mindset when you are doing anything that involves large sums of money.

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