1. Who can buy property in Florida?
In general, you do not need US citizenship, a green card or a visa to buy real estate in Florida. Foreign individuals and foreign-owned companies buy homes and condos here every day, and the purchase itself does not give or require immigration status.
Since July 2023, Florida law (SB 264) restricts certain purchases by people domiciled in specific “countries of concern” — including China, Russia, Iran, North Korea, Cuba, Venezuela and Syria — mainly agricultural land and property near military installations and critical infrastructure, with registration requirements in some cases. Before any offer, we review your situation with a Florida real estate attorney.
2. Cash or mortgage?
Many international buyers pay cash, which makes offers stronger and closings faster. If you prefer financing, foreign-national mortgage programs exist: expect a larger down payment (often 25–40%), documented income and assets, reserves in a bank account, and rates somewhat higher than for US residents. Some condo buildings are not eligible for certain loans, so we check financing eligibility before you fall in love with a unit.
Funds from abroad must be transferred through regulated banks with a clear source-of-funds trail; the title company or attorney will confirm what documents they need.
3. How to hold title
You can buy in your personal name, jointly, or through an entity such as a Florida LLC. Each option has different consequences for liability, estate planning and taxes — both in the US and in your home country. This is a question for an international tax advisor and attorney; I'll introduce you to professionals who handle it every week.
4. The buying process step by step
1) Consultation and budget. 2) Buyer agreement — since August 2024 buyers sign a written agreement with their agent before touring. 3) Neighborhood and building shortlist. 4) Showings in person or via live video. 5) Offer and negotiation, usually on the Florida Realtors/Florida Bar contract. 6) Escrow deposit to the title company or attorney. 7) Inspections and document review during the inspection period. 8) Appraisal and loan approval if financing. 9) Closing — in person or remotely.
A typical cash purchase closes in roughly 30 days; with financing, 45–60 days is common.
5. Condos: what to check after 2022
After the Surfside collapse, Florida introduced mandatory milestone structural inspections for older buildings and stricter reserve requirements. Some associations have raised fees or levied special assessments. Before you buy a condo, we review the budget, reserves, inspection reports, meeting minutes, insurance and rental rules. This step protects you from the most expensive surprises in South Florida real estate.
Read more: HOA & special assessments →
6. Closing costs and ongoing costs
Buyers typically pay roughly 2–4% of the price in closing costs: title insurance and settlement fees, recording, attorney fees, lender fees if financing, and prorated taxes and HOA dues. Ongoing costs include property tax (roughly 1.6–2.2% of assessed value per year depending on the city), insurance (wind and, where needed, flood), HOA or condo fees, and utilities.
Try the calculator on the home page to estimate your monthly total for a specific price.
7. Taxes to know about
Florida has no state personal income tax. Rental income from US property is taxable in the US, and non-residents usually need a US taxpayer number (ITIN) to file. When a foreign person sells US real estate, FIRPTA generally requires the buyer to withhold a percentage of the sale price (commonly 15%) for the IRS, which can later be reconciled on a tax return. The Homestead exemption, which reduces property tax and caps annual assessment increases, is available only for a permanent residence of a qualifying owner.
This is general information, not tax advice — always confirm with a qualified US tax professional.
8. Buying without flying in
Many of my clients see their future home first on a live video tour. Contracts are signed electronically, inspections are attended by me and the inspector, and closing documents can be signed abroad before a notary or at a US consulate, as the title company instructs. You can fly in to pick up the keys — or not at all, if the home is an investment.
9. US estate tax for non-residents
This is the point most international buyers miss. Non-resident, non-citizen owners of US real estate can be subject to US federal estate tax on US-situs assets above an exemption of only $60,000, at rates up to 40%. Some countries have estate tax treaties with the US that change this; many — including Russia and Ukraine — do not.
Owning through the right structure — for example a foreign corporation, certain trusts (such as a foreign grantor trust) or insurance — can reduce this exposure, but each option has trade-offs. Set up ownership with an international tax attorney before closing, not after.
This guide is general information, not legal or tax advice. Laws and programs change — confirm details with a Florida attorney and a US tax professional.
