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U.S. Will Track Secret Buyers of Luxury Real Estate

Concerned about illicit money flowing into luxury real estate, the Treasury Department said Wednesday that it would begin identifying and tracking secret buyers of high-end properties.

The initiative will start in two of the nation’s major destinations for global wealth: Manhattan and Miami-Dade County. It will shine a light on the darkest corner of the real estate market: all-cash purchases made by shell companies that often shield purchasers’ identities.

It is the first time the federal government has required real estate companies to disclose names behind all-cash transactions, and it is likely to send shudders through the real estate industry, which has benefited enormously in recent years from a building boom increasingly dependent on wealthy, secretive buyers.

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http://www.nytimes.com/2016/01/14/us/us-will-track-secret-buyers-of-luxury-real-estate.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region®ion=top-news&WT.nav=top-news&_r=0



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Kyle Graybeal was the listing agent for our Missoula residential property last year. He was exceptional to work with and had our interests at heart through every step of the process. Kyle’s long experience with Missoula real estate and property management made this a very positive process. Kyle was able to accurately predict the correct listing price and timing for our property, and offered his list of reliable sub-contractors to help us do necessary repairs and upgrades prior to listing. He kept us promptly informed throughout the showings and offerings and was present at closing. He exhibited patience, dispassionate selling advice and technical knowledge about the process. I would recommend him without hesitation, and will utilize his experience and skills again.

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