Receiving a cash gift from parents overseas but getting the money from a US company

[AlexCor]

Hello,  my dad (Non-US Citizen)  would like to give me (I am a US Citizen)  and my wife 50k for our new house, he does not have the cash but is going to sell one of his properties in Mexico to a US company and the US company will send the money to my account.  Do I need to report this transaction? Is it still consider a gift? 

I have been trying to look online but I could not find any information.  

My dad will pay all the reportable taxes in Mexico. 

Thanks for the help!

[Critter-3]

No matter how they get the cash it is still a gift to you which is not reported on an income tax return. 

[AlexCor]

Thanks for your answer.   Do I need to complete a form or how do I report it as gift?

[Critter-3]

If your parents are not US citizens or residents of the US, there are no US tax implications for them.

If you, as a US person, receive a gift of more than $100,000 from a foreign person, you are required to submit a Form 3520 to the IRS.  Form 3520 is an informational form only.  You do not report a gift received on your personal tax return, regardless of the amount received.

[AlexCor]

Thanks!! one last question.  Since the money will be coming from the US, Do I need to complete a forms?