Items Tagged with 'foreign homebuyers'

ARTICLES

  • 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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