Legal News and Updates
FinCEN: Michigan Realtors® Publishes New Client Notice.
Effective March 1, 2026, closing agents are required to file a report with the federal government for any residential real estate transaction that does not involve a traditional mortgage loan from an institutional lender, and the buyer is a legal entity or trust. This will include all-cash deals and sales that are privately financed or seller financed. The following form is intended to alert your client to additional closing and reporting requirements that may arise based on the nature of a particular transaction.
This new Client Notice provides a brief overview of the FinCEN filing requirements and is not intended as legal advice. Utilization of the Client Notice provides brokerages with an opportunity to introduce clients to the possible impact of FinCEN, while also asking the client to acknowledge the information. For a more detailed discussion on the FinCEN requirements, please visit FinCEN’s Frequently Asked Questions and/or consult with an attorney.
Watch From The Mailbag | Seller Disclosure Q&A
For more videos and transcripts, visit law.mirealtors.com.
Watch Letter of the Law | Seller Disclosure From The Buyer’s Perspective
For more videos and transcripts, visit law.mirealtors.com.
Vote for Two 2025 NAR Good Neighbor Award Finalists from Michigan
Michigan Realtors® has two finalists in the 2025 NAR Good Neighbor Awards! Finalists will be recognized during NAR NXT in Houston. Read their stories and vote for them in the Web Choice Awards. The three finalists who get the most votes will receive up to a $2,500 bonus donation to their nonprofits.
From The Mailbag | Question of The Week
Each month, we are taking the most recently asked questions from From The Mailbag and putting them in E-News.
QUESTION: My buyers do not want their identity disclosed to the seller until after the purchase agreement is signed. Can we submit an anonymous offer?
ANSWER: If the seller is willing, you can negotiate the terms of the purchase agreement anonymously, but keep in mind that you will not have a binding contract until it is actually signed by both parties. A Realtor® should never sign a contract on behalf of an undisclosed buyer – or even arrange for someone else to do so without the involvement of an attorney.
