 FIN-CEN (by Ken [NY]) Mar 2, 2026 9:40 PM
 FIN-CEN (by NE [PA]) Mar 3, 2026 3:00 AM
FIN-CEN (by Ray-N-Pa [PA]) Mar 3, 2026 6:37 AM
FIN-CEN (by 6x6 [TN]) Mar 3, 2026 8:06 AM
FIN-CEN (by zero [IN]) Mar 3, 2026 10:01 AM
FIN-CEN (by NE [PA]) Mar 3, 2026 10:05 AM
FIN-CEN (by zero [IN]) Mar 3, 2026 1:15 PM
FIN-CEN (by Ray-N-Pa [PA]) Mar 3, 2026 5:14 PM
FIN-CEN (by BRAD 20,000 [IN]) Mar 4, 2026 1:29 AM
FIN-CEN (by NE [PA]) Mar 4, 2026 6:55 AM
FIN-CEN (by Ken [NY]) Mar 4, 2026 7:43 AM
FIN-CEN (by DJ [VA]) Mar 4, 2026 7:48 AM
FIN-CEN (by zero [IN]) Mar 4, 2026 7:57 AM
FIN-CEN (by NE [PA]) Mar 4, 2026 8:04 AM
FIN-CEN (by zero [IN]) Mar 4, 2026 8:14 AM
FIN-CEN (by Ken [NY]) Mar 4, 2026 8:59 AM
FIN-CEN (by jonny [NY]) Mar 4, 2026 11:10 AM
FIN-CEN (by W [CA]) Mar 4, 2026 11:19 AM
FIN-CEN (by Ken [NY]) Mar 4, 2026 11:32 AM
FIN-CEN (by zero [IN]) Mar 5, 2026 7:44 AM
FIN-CEN (by BRAD 20,000 [IN]) Mar 5, 2026 1:38 PM
FIN-CEN (by Ken [NY]) Mar 5, 2026 8:45 PM
FIN-CEN (by BRAD 20,000 [IN]) Mar 6, 2026 4:05 PM
FIN-CEN (by zero [IN]) Mar 7, 2026 10:26 AM
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FIN-CEN (by Ken [NY]) Posted on: Mar 2, 2026 9:40 PM
Message:
I am being told FIN-CEN is for cash purchases and now my attorney says it includes hard money purchases also.Stewart title says $200 to file and i doubt they will catch any money laundering at all. --159.203.xx.xx |
FIN-CEN (by NE [PA]) Posted on: Mar 3, 2026 3:00 AM
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Ken, it’s never about what they tell you it’s about. --24.152.xxx.xx |
FIN-CEN (by Ray-N-Pa [PA]) Posted on: Mar 3, 2026 6:37 AM
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If cartels were to want to money launder, would they be buying $175,000 SFH so they could chase someone down monthly for rent or would they want a NNN Tractor Supply or Harbor Freight building with 20 plus years of steady income and any need to shake anyone down.
Yet strangely, this applies only to residential cash purchases - not commercial. The vast majority of 1031s are for SFHs --173.188.xx.xx |
FIN-CEN (by 6x6 [TN]) Posted on: Mar 3, 2026 8:06 AM
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FIN-CEN (by zero [IN]) Posted on: Mar 3, 2026 10:01 AM
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Once again I see this as a bad deal all around.
I have bought a few places all cash because it made it easier to negotiate that way. The seller knew I had the funds and was serious about the purchase.
Saved money and time by doing this. Once purchased I could do a cash out refi on my own schedule to recoup the funds.
Now I have to go thru the loan process ahead of time, unless I want to be placed on yet another government list?
What about a place that needs rehabbed to bring its full potential out? Buy an ugly place cash, dump some money into it for rehab and refinance the place for the full amount invested. Instead I need to take a loan out for the initial purchase and then another loan to refi the all in costs.
So what happens when someone has money under the mattress and wants to finally use it to buy a property? They are now going to be scrutinized as a money launderer because they saved the way they wanted?
Then again I would think that the people that had large sums that needed laundered could afford to run it thru a couple scenarios to make it look legit.
Seems like another way the rule followers get ripped off again. --47.227.xx.xxx |
FIN-CEN (by NE [PA]) Posted on: Mar 3, 2026 10:05 AM
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If you had $100,000 cash, could you put that in a CD and borrow against that? There’s ways around everything. Pay off a house and set up a HELOC to maintain quick closings? I haven’t heard anything about this until on here the last week or 2. For me it’ll be business as usual if I’m ever lucky enough to find an investment property again. Just remember folks, in a few months, it’ll be all about the new legislation Du jour and this will either be routine business or totally forgotten about. --24.152.xxx.xx |
FIN-CEN (by zero [IN]) Posted on: Mar 3, 2026 1:15 PM
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I had not considered the loan against a CD. If it didn't have a lot of fees associated with it I guess that would be an easy route to take. --47.227.xx.xxx |
FIN-CEN (by Ray-N-Pa [PA]) Posted on: Mar 3, 2026 5:14 PM
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I just read something today where there is a DSCR lender that is funding in 4 days providing you have the necessary paperwork completed in advance. That is just Plum Crazy --173.188.xx.xx |
FIN-CEN (by BRAD 20,000 [IN]) Posted on: Mar 4, 2026 1:29 AM
Message:
I thought the whole LLC registration thing was struck down. But that's what this is.
I just filled out my first FinCEN form today. I had to name all beneficiaries with their address and SS#. Defeats the ability to keep private.
My title company says I'm their first FinCEN client for their office.
It's required for cash purchases by LLCs or Trusts. Maybe next time I'll get a $100 mortgage so it's not all cash!
The form is simple but the SELLER must also complete the form since I am giving him cash.
The Title company filled in the details (prop address, seller, buyer, price, estimated closing date, etc then I got the link 24 hours later. Title Co does not know how long before they receive approval from the govt to close.
BE AWARE this can mess up a 1031 or other deadlines with delays.
I can get this done ASAP but my concern is the Seller understanding and getting it done.
BRAD
--68.45.xxx.xxx |
FIN-CEN (by NE [PA]) Posted on: Mar 4, 2026 6:55 AM
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If you skip title insurance, can you skip this whole thing? Suppose you order a 100 year title search and then just record the deeds yourself? I’m not concerned about this yet, but I don’t like the idea of possibly delaying a closing until the government tells me it’s ok to buy a house from someone. Just throwing out ideas. --24.152.xxx.xx |
FIN-CEN (by Ken [NY]) Posted on: Mar 4, 2026 7:43 AM
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NE- not legally you cant.no title insurance then your attorney will have to file it, no attorney then you will have to file it,if you dont do it you will probably get inmore trouble than the guy who is guilty. i am getting a hard money loan and still required.my complaint is the $200 charge that will accomplish nothing --38.248.xx.xx |
FIN-CEN (by DJ [VA]) Posted on: Mar 4, 2026 7:48 AM
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So, if you buy something in your personal name, it does not apply? --72.218.xx.xxx |
FIN-CEN (by zero [IN]) Posted on: Mar 4, 2026 7:57 AM
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DJ, I thought it was across the board.
But if not then I can put the place in my name and QC it into an entity later.
Sure that will show that I owned it at one time, but still possibly a work around. --47.227.xx.xxx |
FIN-CEN (by NE [PA]) Posted on: Mar 4, 2026 8:04 AM
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The workaround of buying yourself then transferring to a LLC would only make sense if this causes delays. The $200 extortion fee is cheaper than double transfer tax. In my state, that would be 4%. But the 2nd time it would be on assessed value. If you appealed the taxes and then transferred it, you could save some $. What happens when the Ai programs that process the paperwork flags you as someone who MIGHT be money laundering? --24.152.xxx.xx |
FIN-CEN (by zero [IN]) Posted on: Mar 4, 2026 8:14 AM
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Talk about wasting money.
If they decided I was laundering money they would spend more finding out they were wrong than I make for sure. --47.227.xx.xxx |
FIN-CEN (by Ken [NY]) Posted on: Mar 4, 2026 8:59 AM
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DJ-I do not believe so,cash or hard money i am told. it is a money laundering thing.zero you will end up doing it some point in that process.my complaint is the $200 each purchase which if i do 10-20 deals this year adds up for the title company --74.77.xx.xx |
FIN-CEN (by jonny [NY]) Posted on: Mar 4, 2026 11:10 AM
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Ken, your title company is going to charge $200 MORE to file the form? That seems absurd to me. I understand there is more paperwork but yikes.
I'll have to see. It's either the title company or attorney (and there may have been others mentioned) that are responsible to ensure that it is filed if all cash sale. --47.231.xx.xxx |
FIN-CEN (by W [CA]) Posted on: Mar 4, 2026 11:19 AM
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Saw in the local news that DHS is requesting the ownership of all real estate properties from the County recorders within 100 miles of the Mexican border - possibly farther. Guessing they want to check the owners for cartel, Chinese or Iranian ownership, especially near military bases in San Diego. --98.97.xxx.xxx |
FIN-CEN (by Ken [NY]) Posted on: Mar 4, 2026 11:32 AM
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jonny, that is what Stewart title is saying.My attorney says his staff doesnt have the time to deal with it.I do use an independent title company often and will be closing one next week with them so i will see what they actually charge me --74.77.xx.xx |
FIN-CEN (by zero [IN]) Posted on: Mar 5, 2026 7:44 AM
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I am curious if they will charge you the extra or eat it so you keep using them. --47.227.xx.xxx |
FIN-CEN (by BRAD 20,000 [IN]) Posted on: Mar 5, 2026 1:38 PM
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Oh zero! I love it when you make jokes like they will just eat the extra charge!
I'm the first at my title co. She said they don't yet know how much extra to charge.
Remember, they must also process the SELLER's FinCEN.
BRAD --68.45.xxx.xxx |
FIN-CEN (by Ken [NY]) Posted on: Mar 5, 2026 8:45 PM
Message:
Zero- they will all charge,money making opportunity for them. if they dont do it they dont write the title so no choice. i will let you know when the closing happens --159.223.xxx.xx |
FIN-CEN (by BRAD 20,000 [IN]) Posted on: Mar 6, 2026 4:05 PM
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Just received my closing statement for Tuesday's closing.
FinCEN fee $350.
Raising the cost of affordable housing, bit by bit.
Politician: "My law is there to protect the consumer. *I'm* not making it harder to buy a home, it's all those other politicians, not me!"
BRAD
--68.45.xxx.xxx |
FIN-CEN (by zero [IN]) Posted on: Mar 7, 2026 10:26 AM
Message:
Uncanny how that works. --185.141.xxx.xx |
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