Checklist for International Buyers: What You Need to Know if You’re Not a U.S. Resident
Buying real estate in Florida is an incredible opportunity for those seeking a second home, an investment, or simply a place in the sun. But if you’re not a U.S. resident, there are a few key things you need to know. Here’s a practical checklist to help you make informed decisions with confidence and the right support.
✅ 1. Work with a Realtor Who Has Experience with International Buyers
An experienced agent who regularly works with international clients will be your best resource. They understand the process, legal requirements, and can connect you with reliable attorneys, lenders, and tax professionals.
✅ 2. Choose the Right Type of Property
Clarify your goal: Do you plan to rent it out? Use it seasonally? Sell it later? Florida offers single-family homes, condos, and vacation rentals — each with its own rules and potential.
✅ 3. Understand Your Financing Options
You can purchase with cash or apply for financing through lenders who work with foreign nationals. Most banks will require a 30–40% down payment and proof of income. Your agent can help you explore the best options.
✅ 4. Open a U.S. Bank Account and Get an ITIN
To manage expenses or receive rental income, you’ll need a U.S. bank account. You’ll also need an ITIN (Individual Taxpayer Identification Number) for tax reporting purposes.
✅ 5. Be Aware of Tax Implications
Foreign buyers must pay property taxes and may be subject to FIRPTA (Foreign Investment in Real Property Tax Act) when selling. A tax advisor can help you plan properly and avoid surprises.
✅ 6. Understand Closing Costs
Beyond the down payment, be prepared for closing costs such as title insurance, inspections, legal fees, and possible HOA dues. Your agent can provide a detailed estimate.
✅ 7. Plan for Property Management
If you won’t be living in the property full-time, consider hiring a property manager. They’ll take care of maintenance, tenants, and compliance with local regulations.
Buying in Florida as a non-resident is absolutely possible — and often easier than you might expect with the right guidance. A knowledgeable realtor will help ensure a smooth, secure, and successful process.
👉 Ready to take the next step? Contact us today for personalized guidance and start your Florida home-buying journey with confidence.
