Items Tagged with 'foreign real estate investors'

ARTICLES

  • Here’s what title insurers need to know about the feds’ new rules for all-cash real estate deals

    Deloitte experts on FinCEN’s new requirements
    [Expert commentary] Last month, the Treasury Department’s Financial Crimes Enforcement Network announced that it was expanding on its rules that require title insurers to report buyers’ identities and the source of the funds for certain residential real estate deals. Here's what title insurers need to know about the new rules and what they can do to comply with them.
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  • 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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  • Miami developer betting that unrest in Turkey will boost condo development

    Bekir Okan hopes to get buy-in from Turkish investors
    Miami developer Bekir Okan is betting that unrest in Turkey will catalyze the construction of his Okan Tower in Miami. According to the Wall Street Journal, Okan hopes that wealthy Turkish investors will be extra eager to move capital out of the country in the wake of President Recep Tayyip Erdogan’s reelection.
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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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  • 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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  • Korean investors eye US real estate

    Mixed-use commercial deals remain a key attraction
    Korean investors are gradually becoming major players in the U.S. real estate market. Much like the Chinese before them, foreign buyers from Korea are scooping up major commercial properties.
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