A foreign buyer can purchase Florida real estate without US residency, a green card, or a US credit history. Ownership is recorded the same way it would be for any American buyer. What changes is not the right to buy — it is the path to closing, and that is where most deals stall.
I have worked with international buyers since 1998. The pattern is consistent: finding the property is rarely the hard part. Documenting who you are, to a financial system that has no record of you, is.
Two routes: cash or financed
Many international buyers pay cash. Not because it is inherently better, but because it removes the credit obstacle entirely. A cash purchase closes in weeks rather than months, and the offer competes better against others on the table.
Financing is available and common. A specific product exists for this — the foreign national loan — built for borrowers with no US credit file. It does not look at a credit score you do not have. It looks at documented income and assets in your home country instead.
The practical differences are the down payment and the paperwork. A foreign national borrower puts down substantially more than a US buyer with established credit, and the rate is typically higher. The specific percentages vary by lender and move with the market — get current figures before you run numbers, and do not rely on percentages quoted in an article written two years ago.
What a lender asks a foreign buyer for
Every lender keeps its own list, but the core is consistent:
Valid passport, and in many cases a valid US visa.
Proof of income in your home country — tax returns, payslips, or for business owners, company financials and statements.
Bank statements covering recent months, showing where the money came from.
A bank reference letter from your home institution, in English.
Documented reserves — funds beyond the down payment and closing costs.
Most of this needs to be in English, professionally translated, and sometimes apostilled. Start assembling it before you make an offer, not after. It is the single most common cause of a delayed closing.
Source of funds matters more than buyers expect
US financial institutions are required to document the origin of incoming funds. A large international transfer with no paper trail generates questions, and questions generate delay.
In practice: move money through formal banking channels, keep every confirmation, and avoid cash deposits or split transfers that could look like structuring. If the funds came from selling a property at home, keep the deed. If they came from a business distribution, keep the resolution. Documenting the origin matters as much as documenting the amount.
Carrying costs that surprise first-time buyers
The list price is not the cost of the property. Recurring ownership costs in the US weigh more heavily than most international buyers anticipate:
Property tax, billed annually by the county and reassessed against appraised value.
Insurance — in Florida this includes windstorm coverage, and in some areas separate flood insurance. It is a significant budget line, not a footnote.
HOA dues — the association that maintains common areas and enforces community rules. What it covers varies widely, so read the documents.
CDD assessments in some newer developments, funding the infrastructure and appearing on the tax bill.
Closing costs — title insurance, recording fees, appraisal, professional fees. Ask for a written estimate before signing anything.
If the property will be rented short-term, add management, cleaning, licensing and rental tax.
Taxes: ITIN and FIRPTA
Two acronyms every foreign owner eventually meets.
An ITIN is the taxpayer identification number for people without a Social Security Number. You will need one to report rental income, and often for the financing itself.
FIRPTA requires withholding a portion of the sale proceeds when a foreign person sells US real estate. It is not an extra tax — it is withholding against your eventual liability, reconciled when you file. But it affects your cash flow on the way out, and it is better understood on the way in.
None of this replaces a US accountant who specialises in non-resident owners. Have that conversation before you buy, not after.
The mistakes I see most
Making an offer before organising documents. Sellers work to deadlines you cannot extend while waiting on a certified translation.
Assuming the process works like it does at home. The division of responsibility between agent, title company and attorney has no exact equivalent elsewhere.
Buying on advertised returns without checking local rules. Not every community permits short-term rental, and some municipalities restrict it. Verify first.
Underestimating insurance. In parts of Florida, insurance has changed the arithmetic of many investments in recent years.
Frequently asked questions
Do I need a visa to buy property in the US?
No. Buying real estate requires no visa or immigration status, and it grants neither. Purchasing a Florida home does not help you obtain a visa or a green card.
Can I buy through a company?
Yes, and many investors do, for liability and succession reasons. The right structure depends on your situation and carries tax consequences in both countries. Decide it with your accountant and attorney before you buy.
How long does the process take?
A cash purchase with documents ready closes considerably faster than a financed one. A foreign national loan depends on the lender and on how organised your paperwork is. Timelines vary case by case — ask your lender for an estimate at the outset.
Do I have to be in the US to close?
Not always. Remote closing is often possible using a power of attorney and remote signing, depending on the lender and title company. Agree it early, because not everyone accommodates it.
Where to start
Before you look at properties, get three things in place: translated income and asset documentation, a conversation with a US accountant who handles non-residents, and a pre-approval if you intend to finance. With those ready you negotiate from strength and close on schedule.
If you are weighing a purchase in Central Florida or Miami and want to understand what applies to your situation, get in touch — I will walk you through the whole path before you make an offer.
