Buying Miami Real Estate from Abroad: A Practical Guide for International Buyers

Buying Miami real estate from abroad is more routine than most international buyers expect — and riskier in a handful of very specific places. I represent foreign buyers, many from Latin America, on $5M+ purchases here, and nearly every avoidable problem I see traces back to the same few decisions made too late: how the money will move, how title will be held, and who is actually working for the buyer. If you are a foreign buyer considering Miami, this is the order in which to handle each one.

Cash or financing: settle it — and document it — early

A large share of Miami luxury closings are all-cash, and for an international buyer cash is usually the simpler path. Simpler, though, does not mean paperwork-free. U.S. banks and title companies are required to understand where funds come from, and the single most common cause of delayed international closings is source-of-funds documentation assembled at the last minute. Prepare it before you shop:

• Recent statements from the accounts that will fund the purchase.
• Documents showing how the wealth was created — a business sale, a property sale, dividends — translated into English where needed.
• A letter from your private bank, if you have that relationship.

It also pays to move funds into a U.S. account well before closing, so currency conversion and compliance review never sit on the critical path.

Financing is available to foreign nationals through private banks and specialty lenders, but expect a larger down payment, deeper documentation, and a slower timeline than a domestic borrower would face. If you intend to finance, get a fully underwritten pre-approval before touring — in this market, an offer that cannot demonstrate certainty rarely wins.

Personal name or LLC: decide the structure before you go under contract

How you take title shapes your income-tax treatment, your exposure to U.S. estate tax as a nonresident, your liability, and your privacy. The common options — personal name, a Florida LLC, layered foreign structures, trusts — each carry real trade-offs, and the right answer depends on your home country and your plans for the property.

I will not give you tax advice, and you should be wary of any real estate agent who does. Decide this with a specialist cross-border CPA and attorney before you sign a contract, because changing the purchasing entity mid-transaction can mean renegotiation, delay, or worse. Well-priced luxury homes here take roughly three months to trade, so there is time to get the structure right while we search.

FIRPTA, explained without the jargon

FIRPTA is a federal withholding rule that touches an international owner twice.

When you buy: if your seller is a foreign person, U.S. law makes the buyer responsible for withholding 15% of the purchase price and remitting it to the IRS. In practice the closing agent handles the mechanics, but your contract needs to address it — one more reason careful diligence matters.

When you eventually sell: as a foreign owner, 15% of your gross sale price — not your gain, your gross price — is withheld at closing. It is a prepayment, not a final tax; you file a U.S. return and recover any excess. But you should plan for that temporary liquidity hit from the day you buy, and your entity structure interacts with it directly — another reason for the specialist conversation above.

How international buyers close in Miami without flying in

A fully remote purchase is genuinely workable today. My international clients routinely close having visited once, or not at all, using:

• Live video walkthroughs, where I tour the home and show you the unflattering parts as well as the beautiful ones.
• Digital signatures for offers and contracts, and remote online notarization, which Florida permits.
• A narrowly drafted power of attorney where one is needed, and wired funds for closing.

That said, if you can make one trip, make it during the inspection period. Video conveys the house; it does not convey noise, light, traffic, or the feel of a street. You can begin from anywhere by reviewing current $5M+ inventory and the neighborhoods themselves — Key Biscayne, long a favorite of Latin American families with homes roughly $8–45M, is where many of my international clients start.

Why bilingual, buyer-only representation matters

Since 2024, Florida buyers sign written buyer agreements — read yours carefully, because it tells you exactly whom your agent owes loyalty to. I work as a buyer-only advocate: I never represent sellers, so there is no version of your purchase where my incentives drift toward the other side of the table. And because the contracts, disclosures, and negotiations all happen in English, representation that works fluently in both languages means nothing important reaches you second-hand or softened in translation.

If you are weighing a purchase from abroad, start with my buyer's guide, which covers the full process in detail. When you are ready to talk specifics — structure, timing, neighborhoods — schedule a private consultation, in English or Spanish, and we will build the plan around your situation.