American real estate is a "safe" place to park money. Both as an investment and to get it out of your home country.

The implication is that the cash offers are dirty money. The amount of money coming from China is absurd. They have a major issue with corruption right now. They're even trying to crack down on it. If you were in China and had dirty money you'd want to get it out of the country and somewhere safe. New York, Miami, And also London. Plus lesser cities such as Vancouver and Seattle. The amount of Chinese money flooding Seattle, where I live, is absolutely absurd. It's a major talking point in local discussion.

I would assume that it's a quick way to turn cash into an asset. You buy the house to keep your money safe, then sell the house when you need money.

I'm curious if this could also work in a foreign setting. Like buying a house in another country.

Turning cash into an asset is not money laundering, even if the cash is dirty. Laundering is making it look like you received income from legitimate activity.

Buying real estate itself is not. But buying it with elicit money with intent of obfuscating its trail is.

Criminals force people under threat of death to sell properties and accept dirty cash for payment. The criminals resell the property for clean money.