Archive for September, 2016

Minimizing Closing Costs, Maximizing Profit


A property's "sticker price" is a solid indicator of its overall worth, but the transaction itself can involve many other fees. Third-party payments to the realtors, mortgage brokers and administrators that helped facilitate a home's sale are known as "closing costs." The specific services that make up these costs vary widely from state to state, but they can add up a significant amount of money — up to 7% of ...

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FinCen Targets Shell Companies in Real Estate Transactions


As of July 22, 2016, FinCen (the Financial Crimes Enforcement Network) is cracking down on anonymous real estate investors who attempt to purchase high-end residential properties by cloaking themselves in shell companies. New regulations require title insurance companies to disclose the names of any individuals involved in cash transactions for real estate above certain value thresholds in select markets around the United States. According to FinCen’s statement to the press, the ...

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