http://www.youtube.com/watch?v=uYDf3qiMBK4

Is it Slow Time?

And is this something you can only do on PC or is it doable on console as well (Xbox)?

It looks like the character confirms the purchase, but then quickly uses a shout, puts his money into the dresser, lets the shout lapse, and that's it.

Is there anything else to know about doing this?

Yes, it says so in the video. He's using the Slow Time shout. I heard about this before, but never tried it. I usually use Proudspire Manor to offload some gold. Gold is so easy to come by in this game LOL

I accidentally got enough gold for that place. Why bother with exploits?

you don't really need to use slow time for this "cheat". You can make it to the cupboard in time if you just exit the moment you confirmed the purchase and start running.

I think you have to have the amount of gold needed in your possession to be able to do this exploit as he won't sell it to you otherwise.

And, you don't need Slow Time. I think you can also just drop the gold on the floor. But, you run the risk of losing the one coin on the floor. One coin as they all stack on to that.

I have the money to do it (around 27K right now), I just don't want to have to pay for the upgrades to the house. This character is almost at an end and one of the goals was to own every house and be Thane in each of those cities. This finishes that goal and in turn will allows me to completely finish the Thieves Guild, which I've never done before (the Skeleton Key is too hard to give up!).