Buying a house in Miami as a foreigner is common and legal. You do not need to be a citizen or resident, but financing, taxes and the closing process work differently. This guide covers ITIN, down payment, LLC ownership, taxes and remote closing.
At a glance
- Foreign buyers typically put 25% to 40% down; many buy in cash.
- An ITIN is not required to buy but is useful for taxes and some loans.
- Buying through an LLC can add privacy and liability protection, with tax and lending implications.
- Closing can be done remotely with a power of attorney and mobile notary.
Price ranges: property type, price and where to look
| Segment / property type | Typical price range | Where to look |
|---|---|---|
| Condo (1-2 bed) | $300K – $900K | Brickell, Downtown, North Miami Beach |
| Townhome / house | $500K – $1.5M | Doral, Kendall, Aventura |
| Luxury | $1.5M – $10M+ | Miami Beach, Coconut Grove, Key Biscayne |
| Branded residences | $2M – $20M+ | Brickell, Sunny Isles, Surfside |
Neighborhoods, schools, transport, safety and lifestyle
- Financing
- Foreign national loans, bank statements, foreign credit references and 25% to 40% down.
- Taxes
- Property tax, possible US income tax on rent and FIRPTA withholding when you sell (generally 15%).
- Entity
- LLC or trust can simplify privacy and estate planning; consult a lawyer.
- Banking
- Open a US account or wire from abroad with source-of-funds documentation.
- Residency
- Buying does not grant a visa but can support some investor or visitor routes.
Recommended team
A bilingual buyer's agent, a lender experienced with foreign nationals, a real estate attorney and a CPA for US and home-country tax planning.
Remote purchase checklist
Digital tour, proof of funds, power of attorney, wire verification, title search, insurance quote and remote notarization.
Buyer checklist: from budget to closing
- Set your budget. Define a monthly ceiling that includes taxes, insurance and HOA, and the cash you will bring to closing.
- Get pre-approved. Compare at least three lenders and obtain a written pre-approval before touring.
- Choose your agent. Work with a local buyer's agent who knows pricing, flood zones and building rules.
- Make a data-backed offer. Base the offer on recent comparable sales, days on market and condition.
- Inspect everything. Order a general inspection plus roof, 4-point, wind mitigation, pool or marine inspections as needed.
- Insure the property. Request homeowners, wind and flood quotes before the inspection period ends.
- Close with confidence. Review the title, final walk-through and closing disclosure; wire funds only after verifying instructions by phone.
Ready to look at real homes?
See current residences or speak with Yairo for a private shortlist, price comparison and next steps.
Frequently asked questions
Can foreigners buy property in Miami?
Yes, with no citizenship or residency requirement.
Do I need an ITIN?
Not to buy, but you may need one for tax filing or some lenders.
How much down payment do foreigners need?
Usually 25% to 40%, depending on the lender and property type.
Can I close without traveling?
Yes, with a power of attorney and mobile notary or remote closing.
What taxes apply when I sell?
FIRPTA withholding of 15% can apply, and capital gains may be due; consult a CPA.
Related guides
Prices and figures on this page are indicative ranges for planning and change with the market, interest rates, insurance and building rules. They are not an offer, legal, tax or financial advice. Confirm current numbers with your agent, lender and advisors.