Buying Florida Real Estate as a Foreigner

Foreign nationals can buy Florida real estate with no US citizenship, residency or Social Security number. Most international buyers either pay cash or use a foreign national loan, which typically needs 25% to 40% down, and much of the purchase can be handled remotely. What surprises people is less the purchase than the ownership: insurance, condo fees, rental rules, and taxes when you sell.

Florida is the top US state for international home buyers, with a 20% share of foreign purchases from April 2025 to March 2026 (NAR, 2026). Rui Cunha, broker at Royal Star Corp in Deerfield Beach, has worked in South Florida real estate since 2003 and grew up professionally in two countries, as an American Express executive in Brazil and the US.

Buying from abroad, step by step

Video call and goals. Primary home later, vacation home, rental, or a place for a child at college. The goal changes the right property and the right financing.
Proof of funds or pre-approval. Cash buyers show bank statements. Financed buyers get pre-approved by a lender that works with foreign nationals.
Remote search. Rui sends listings, records video walkthroughs and checks the building and the neighborhood in person.
Offer and contract. Contracts are signed electronically. Your deposit goes to an escrow account at a title company or attorney.
Inspections and due diligence. Home inspection, insurance quote, condo or HOA documents, and rental rules.
Closing. Closing documents can usually be signed abroad before a notary or at a US consulate, or through a power of attorney. The title company will confirm what it accepts.

Most international buyers visit before buying. But once you've chosen an area, the contract-to-closing part rarely requires you to be here.

ITIN and taxpayer ID

You don't need a Social Security number. An ITIN (Individual Taxpayer Identification Number, requested on IRS Form W-7) isn't required just to own property, but you'll almost always need one to get a mortgage, report rental income or file a return when you sell (HeartMortgage). If you live in Florida and already file US taxes with an ITIN, see the ITIN mortgage guide instead.

Financing for foreign nationals

Foreign national loans are designed for buyers who live outside the US. They use foreign income, bank statements and sometimes a credit report from your home country instead of a US credit score. Typical terms, always subject to lender approval:

Down payment of 25% to 40%, with 30% the most commonly cited figure among Florida lenders (NQM Funding, HeartMortgage).
Reserves: lenders often want several months of payments in savings.
Rates above those of a standard US loan. Ask lenders for current quotes.

Financing is common. In Florida Realtors' survey for August 2024 to July 2025, 52% of Brazilian buyers used a US mortgage and 42% paid all cash (Florida Realtors 2025 international profile).

Currency

If your savings are in another currency, the exchange rate is part of your price. Florida Realtors' 2025 report found that the amount of Brazilian reais needed to buy a median-priced Florida home rose from about R$1.7 million to R$2.5 million over its 2024–2025 survey window, mostly because of currency moves (Florida Realtors 2025 profile). Currency can move in either direction. Plan when and how you'll transfer funds, and use a licensed exchange or bank. Wire instructions should always be confirmed by phone with the title company, never just by email.

The real costs of owning

International buyers often walk away over carrying costs, not price. In the same Florida Realtors survey, condo fees (33%) and insurance costs (29%) were among the top reasons foreign buyers didn't complete a purchase (Florida Realtors 2025 profile). Budget for:

Property taxes. Non-residents can't claim the homestead exemption. Taxes are based on market value after your purchase, and annual increases in assessed value are capped at 10% for non-school taxes (Santa Rosa County Property Appraiser). The homestead amendment on the November 2026 ballot would not apply to non-resident owners.
Insurance. Homeowners insurance in Florida is expensive, and a standard policy doesn't cover flood. Get quotes for the specific property before you sign.
Condo and HOA fees. Since Florida's post-Surfside condo laws, many older buildings have raised fees or charged special assessments for repairs and reserves (Withum). Rui is a licensed General Contractor, which helps when reading a building's inspection and reserve reports.
Closing costs of about 2% to 5% of the price (Home Buying Institute, 2025).

Renting the property out

Check the rules before you buy, not after:

Association rules. Many condos and HOAs restrict rentals: minimum lease lengths, a waiting period after purchase, or a cap on rented units.
Local rules. Cities can regulate short-term vacation rentals through registration and inspections. Check the city where the property is.
Taxes. Short-term rentals may owe state and local tourist taxes. Rental income from US property is generally taxable in the US, and foreign owners face specific withholding and filing rules. Your home country may tax it too.

Talk to a CPA who works with foreign owners before you buy. Many investors also choose to hold property through an entity, which is a legal and tax decision for your attorney and CPA.

FIRPTA: taxes when you sell

When a foreign person sells US real estate, the buyer must generally withhold part of the gross sale price under FIRPTA, up to 15% depending on the price and the buyer's use of the home (IRS). It's a withholding, not a separate tax: if it exceeds the tax you actually owe, you can apply to reduce it or file a return to get the difference back. Plan this with a CPA well before you list.

Buying doesn't come with a visa

Buying Florida property, at any price, doesn't give you a visa, a green card or any immigration status. The EB-5 investor program is entirely separate: it requires a minimum investment of $800,000 or $1,050,000 in a new commercial enterprise that creates at least 10 US jobs, and a personal home or rental doesn't qualify (Claxton Law Group, 2026, EB5AN). Talk to an immigration attorney about visas.

Service in Portuguese

Rui speaks Portuguese and English and worked for years in Brazil before moving his career to Florida. Portuguese speakers can read this guide in Portuguese at investir na Flórida. Explore the areas we serve, from Deerfield Beach to Fort Lauderdale.

FAQ

Can a foreigner buy property in Florida?

Yes. There's no citizenship or residency requirement to buy residential real estate in Florida. You can buy in your own name or, with legal and tax advice, through an entity.

Do I need to be in Florida to close?

Usually not. Closing documents can often be signed abroad before a notary or at a US consulate, or through a power of attorney. Confirm the details with the title company.

How much down payment does a foreign national loan need?

Typically 25% to 40%, with 30% common, subject to lender approval. Lenders also look at reserves and the type of property.

What is FIRPTA?

A federal rule that requires the buyer to withhold part of the sale price, up to 15%, when a foreign person sells US real estate. Excess withholding can be recovered by filing with the IRS.

Does buying a home in Florida give me a green card?

No. Property ownership creates no immigration status. EB-5 is a separate business-investment program with much higher requirements.

Can I rent out my Florida property?

Often yes, but condo and HOA rules, city rules and taxes all apply. Check them before you make an offer and talk to a CPA about rental income.

Buying Florida Real Estate as a Foreign National