Items Tagged with 'Foreign buyers'

ARTICLES

  • Feds significantly expand investigation into all-cash real estate deals

    Title insurance companies’ reporting threshold lowered to $300,000
    Title insurance companies in 12 of the nation’s largest markets will now have to provide federal authorities with substantial details on all real estate deals of $300,000 or more if the buyer is paying all cash. The requirement comes at the hands of the Treasury Department’s Financial Crimes Enforcement Network, which is significantly expanding its investigation into whether foreign buyers are using shell companies to buy U.S. real estate in order to launder money.
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  • Senate Democrats call for federal investigation into money laundering in luxury real estate

    Sens. Van Hollen and Whitehouse ask GAO to look into all-cash market
    The Treasury Department’s Financial Crimes Enforcement Network has been looking into whether foreign buyers are using shell companies to buy luxury U.S. real estate in order to launder money for almost three years, but two Democratic senators want the government to do more to figure out how much criminal activity is prevalent in these deals.
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  • From HW Magazine

    Foreign Money: What impact are foreign buyers having on U.S. real estate?

    Foreign buyers of U.S. residential property increased spending in 2017's first quarter by 50%
    Despite rising home prices and a stronger U.S. dollar, foreign buyer transactions in the United States had increased dramatically from a year ago — by almost 50%, in fact. In a housing market restrained by tight inventory, what impact are those buyers having on U.S. real estate?
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  • Feds target luxury real estate wire transfers in money laundering investigation

    Nearly one-third of cash sales tied to "illicit activity"
    The federal government's recent investigation found that potentially illicit activity is behind more than 30% of cash purchases from foreign buyers in select U.S. property markets. FinCEN will now target what some are calling a “gaping loophole” in its initial investigation – wire transfers.
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  • International home buying is absolutely booming in Texas

    Foreign buyers are flocking to the Lone Star State
    International homebuyers are flocking to Texas and buying up Lone Star State homes in droves, a new report from the Texas Association of Realtors shows. In fact, the report shows that over the last year, the amount of money spent by foreign buyers on homes in Texas is nearly double what it was in the previous year.
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  • U.S. to continue investigating money laundering by foreign real estate buyers

    Title companies required to reveal identities of high-end cash buyers
    The federal government will continue investigating whether foreign buyers are using high-end U.S. real estate to launder money after an expanded investigation found that potentially illicit activity is behind as many as one in three cash purchases from foreign buyers in select markets.
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  • U.S. expands investigation into money laundering by foreign cash buyers

    Government finds evidence of suspicious activities in high-end real estate
    The federal government revealed Wednesday that its investigation into foreign buyers using high-end U.S. real estate as a means to launder money found that potentially illicit activity is behind a "significant" portion of the cash transactions in Manhattan and Miami, and plans to expand the investigation into Los Angeles, San Francisco, and several other areas.
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  • China set to dominate foreign homebuyers market

    Analysts expect Chinese to overtake Canadians within 5 years
    “This bigger picture hides a rapid rise in purchases by Chinese investors, who may overtake Canadians as the largest group of foreign buyers of US housing within the next five years,” Capital Economics Property Economist Paul Diggle said.
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