Buying and Selling Real Estate Archives

Two people exchanging money and real estate under new FinCEN real estate reporting rule targeting money laundering in property deals

New Real Estate Reporting Rule

March 25th, 2025

New real estate reporting rule affecting buyers The Financial Crimes Enforcement Network (FinCEN) has issued a rule intended to ferret out and deter money laundering in the U.S. residential real estate market. The rule requires certain information to… Read More

In Exchange

April 4th, 2023

Section 1031 of the Internal Revenue Code provides a valuable tax deferral mechanism for real estate investors. The provision, commonly referred to as a “like-kind exchange,” allows for the exchange of one investment property for another… Read More

Purchase Agreement Essentials

January 11th, 2022

Contributor: Duane L. Reynolds

Because it sets forth the terms of sale and the relative rights and obligations of the parties, the purchase agreement remains the single most important document in any real estate transaction – residential or commercial. While not all purchase agr… Read More

"Let the Seller Beware"

November 16th, 2021

Contributor: LeClair L. Flaherty

There’s an old proverb, “Let the buyer beware.” A recent opinion issued by the Michigan Court of Appeals (Galvan v Poon, Mich App No. 76047, August 19, 2021), however, has turned this time-honored legal principle a bit on its head. In Michigan,… Read More

Land Contracts Simplified

October 12th, 2021

A typical real estate transaction involves a seller, a buyer, and buyer’s lender. At closing, buyer’s lender advances the funds to pay seller in full, seller conveys ownership to buyer by deed, and buyer gives its lender a security interest in th… Read More

Real Property Pitfalls

June 18th, 2019

I’m constantly amazed at the number of ways that people can mess up real estate transactions. Just this past week, two particularly striking examples crossed my desk. The first was an easement agreement prepared by one attorney and reviewed by a se… Read More

Spot the Difference

March 19th, 2019

Real estate transactions are a big part of what we do at Wright Beamer. Lately I’ve noticed an uptick in sales involving commercial properties using residential purchase agreements. Here are a few reasons why it is never a good idea to use a one-si… Read More

Split Closings: A Rant

January 8th, 2019

Disclaimer: If you own or are employed by a title agency, please delete this post and pretend like it never existed. I mean no disrespect. Title companies are wonderful (truly). Does anyone remember the good old days when the buyer had a real estate… Read More

Title Insurers Are Not High on Marijuana

August 21st, 2018

Because it protects buyers, sellers and lenders alike, title insurance is an integral part of every real estate transaction. While we at Wright Beamer regularly deal in real estate law and are well-versed in the documentation involved, one title insu… Read More

Uncle Sam Wants You!

March 20th, 2018

(To Report Cash Transactions) I once facilitated a closing in which my clients sold a very modest home to a young couple for $10,000. What made this transaction interesting was that the couple paid for the house with cash, all in small bills. I still… Read More