Traditional hotspots have been California, Miami, New York, Chicago. But guess who just made the list!
The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a new Geographic Targeting Order with reporting requirements that affect real estate transactions in Washington, D.C., Northern Virginia, Maryland and especially Baltimore!
As of 4/29/2022, if your CASH buyer is paying as little as $50,000 in Baltimore City and County, or $300,000 in Maryland, D.C. or Virginia, they may have some explaining to do. Read more