The best way to think out of the box is to avoid building one around yourself in the first place..
Detailed List of Local Homes and Property for Sale By City
This week in Real Estate in Milwaukee
I was on the phone with a friend today. He was just walking into a house he won on an online auction. As he walked through the house he told me, they removed the doors, counter tops, plumbing fixtures, sinks, light fixtures, ceiling fans, air conditioning units, and a host of other items. The house was stripped clean.
As a licensed Broker in the State of Wisconsin, we receive hours of training on auctions. State licensed auctioneers have pages of laws to abide by, and are required to provide specific documents to potential buyers. Online auctions often consider themselves immune to state laws. In this case, I can't be sure what happened, who removed those items, or what the motive was. All I know is, that sale did not involve a standard state approved Offer to Purchase covering exactly what fixtures are and what is included in the sale of a house. This is a good lesson to learn, state approved contracts are designed to protect both parties involved in the sale of Real Estate. Auctions may or may not use standard Real Estate contracts. Auctions run by state licensed auctioneers have certain protection for buyers. Online auctions may or may not be conducted by state licensed auctioneers. Why take the risk?
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Anti-Money Laundering Guidelines for Real Estate Professionals
In an effort to combat money laundering in the real estate sector, the Financial Crimes Enforcement Network (FinCEN) at the Treasury Department issued a Geographic Targeting Order (GTO) that will temporarily require certain U.S. title insurance companies to identify the natural persons behind companies used to pay "all cash" for high-end residential real estate in Manhattan and Miami-Dade County. NAR has argued, and the Treasury Department agrees, that real estate agents and brokers are not in a position to detect money laundering since the funds involved in real estate transactions are handled through regulated financial institutions. NAR has worked closely with FINCEN and Treasury to develop voluntary guidelines for real estate professionals to identify signs of money laundering.