New real estate Rules, Disclosures and Buying and Selling Forms coming our way in 2026!

One of the latest rules is the FinCen Reporting Rule, and it goes into effect on March 1, 2026. 1) As a buyer you will be asked about the "entity" you represent - Partnership, LLC, or Trust. 2) You will need to confirm, should you be obtaining financing with a lender, if the lender has an AML program (Anti-Money Laundering) with an obligation to file a SARS3) As a buyer you will need to confirm your Beneficial ownership information and your payment sources with your bank details.The transaction MUST be reported if:1) Property is residential real estate including condos, townhomes, entire apartment buildings designed for 1-4 family units, co-ops and vacant land intended for 1-4 family unit structures2) The transfer is non-financed (e.g All cash AND where a lender does not have an anti-money laundering program (AML)3) If the buyer is a legal entity or a trust4) NO exemption applies although there are "some common exemptions" - please reach out to me for more details.** Failure to comply may result in civil and criminal penalties, including imprisonment** As real estate agents we MUST be proactive to avoid delays in the buying process as well as to protect you, as our clients, so you are not shocked when your real estate agent and/or escrow company asks for this information.