What the new cash buyer rules mean for you

The U.S. Treasury Department is expanding previous regulations to more U.S. counties and lowering the sales price threshold for reporting.

FinCEN extends all-cash buyer rules to Honolulu

Welcome to the club, Honolulu! The Hawaiian metropolitan area is the latest to join a list of cities and counties that have to report all-cash real estate deals above a certain dollar amount to the Financial Crimes Enforcement Network (FinCEN) …

All-cash buyer rules renewed for another 180 days by FinCEN

If you were hoping for a reprieve from having to identify all-cash buyers above a certain price point in certain counties to the Financial Crimes Enforcement Network (FinCEN) — sorry …

4 tips to prepare your cash buyer clients for FinCEN regulations

In August 2016, we will see the second phase of a program launched by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) as it released a statement in July explaining that the program was created to identify anonymous individuals who tried to bypass the law, cover up their identities or assets and buy property through shell companies in an effort to skate on financial sanctions and taxes …

6 new counties must report all-cash deals to FinCEN

In January of this year, the federal government announced that title insurance companies in two metropolitan statistical areas (MSAs) — Miami and New York — would have to identify the individuals behind any limited liability corporations (LLCs) that …

Luxury cash buyer rules start today in Miami and NYC

Starting today, luxury buyers wanting to pay in cash will no longer be able to hide behind an LLC in Manhattan or Miami-Dade County. Real estate agents in those areas will be watching closely as rules from the U.S. Department of Treasury are implemente…

Agents will be expected to identify luxury cash buyers

As the real estate industry digested the news from The Financial Crimes Enforcement Network (FinCEN) earlier this week — that from March 1, title insurance companies will have to report the identities of cash buyers spending more than $3 million in Ma…

19 red flags to detect money laundering

Because your elevator speech won’t do you any good in prison, keep your eyes open. If you observe any of the following activities, money laundering might be afoot …