Foreign buyers can purchase residential and investment property in Florida without being United States residents. However, buyers should understand financing, taxes, insurance, ownership structure, closing costs and rental restrictions before selecting a property.
Ana Herrera Untoria is a bilingual Broker Associate with Interinvestments Realty who assists local and international buyers throughout Miami and South Florida.
Some United States lenders offer financing programs for foreign nationals. Down-payment requirements, interest rates and documentation may differ from conventional mortgage programs.
Cash buyers should be prepared to provide proof of funds. Financing should be reviewed before submitting an offer.
In addition to the purchase price, buyers should evaluate:
Condominium buyers should review the association’s budget, reserves, insurance, rules, rental restrictions, pending assessments and available structural or inspection reports.
The condition of the building and its finances can be as important as the condition of the individual unit.
New construction and pre-construction properties may offer modern design, updated building standards and staged deposit schedules. Buyers should compare the developer, contract terms, estimated completion date, deposits, association costs and rental policies.
Explore Miami New Construction Projects
The best location depends on the buyer’s objectives:
Ana provides guidance in English and Spanish and works with lenders, title companies, attorneys, inspectors, insurance professionals and other specialists involved in a Florida real estate transaction.
For personalized assistance, call or text 786-838-9042.
