Guide

The Foreigner's Guide to Buying Pre-Construction in Miami

Harryane, known as Harry, is a Brazilian real estate advisor in Miami who guides international buyers through pre-construction condo purchases in their own language. Pre-construction means buying a home before or during construction, directly from the developer, often at the earliest and best terms. This guide answers the questions foreign buyers ask most before they buy in Miami, in plain language, with honest trade-offs rather than a sales pitch.

Harryane is a real estate advisor, not a licensed Florida real estate agent or broker; all reservations, contracts and transactions are handled by Thuany Lauria's licensed team. Harryane works with the licensed team of Thuany Lauria, the sales team of The House of Wellness Brickell.

In this guide

Can a foreigner buy property in Miami?

Yes. A foreigner can buy property in Miami, and you do not need a visa, a green card, or US residency to own real estate in Florida. Citizens of almost every country can buy, hold, and later sell a Miami home in their own name or through a company. Buying property is a purchase, not an immigration status, so your right to own it does not depend on where you live or what passport you hold.

One narrow exception is worth knowing. Under a Florida law known as SB 264, certain foreign nationals from a short list of restricted countries face limits on buying property near military installations and some critical infrastructure. Most buyers are not affected, but because the rules are specific and change over time, this is exactly the kind of detail to confirm with a licensed attorney before you sign anything.

This is general information, not legal, tax, or immigration advice. Every situation is different, so please confirm the details with a licensed professional before you decide. Harry is glad to connect you with a trusted one.

What documents do I need?

To buy pre-construction in Miami, you generally need four things: a valid passport, proof of funds, an ITIN, and, ideally, a US bank account. Your passport is your primary identification as a foreign buyer. Proof of funds is a simple showing of where your money comes from, usually recent bank statements, so the developer and the licensed team can confirm you can complete the purchase.

An ITIN is an Individual Taxpayer Identification Number, a tax ID the US issues to people who do not have a Social Security number. Foreign buyers use it to file the tax paperwork tied to owning US property, and you can apply for one as part of the process. A US bank account is not strictly required, but it makes life much easier: it simplifies sending your deposits, paying closing costs, and later handling rent or building fees, and it usually means fewer international transfer fees along the way.

How does pre-construction payment work?

Pre-construction payment works in stages, not in one lump sum. Instead of paying the full price up front, you pay a series of deposits spread across the construction period, each tied to a milestone such as signing the contract, breaking ground, or reaching certain building stages. This staged structure is one of the main reasons buyers choose pre-construction: it spreads the cost over the years the building is going up, rather than all at once.

If you plan to finance part of the purchase, the mortgage is typically arranged only near the end, at closing when the building is delivered, not at the start. In other words, your deposits fund the earlier stages, and a loan (if you use one) covers the remaining balance when you take delivery. The exact schedule and amounts vary by developer and project, so treat this as the general pattern and confirm the specific terms for any building with the licensed team before you commit.

Can I get financing as a foreign buyer?

Yes, foreign buyers can finance a Miami purchase, and there are usually a few pathways. The simplest is all-cash, which avoids financing entirely. If you prefer a loan, common options are a foreign-national loan (a mortgage designed for buyers who live abroad), an ITIN loan (which uses your Individual Taxpayer Identification Number instead of a Social Security number), and a DSCR loan, short for Debt Service Coverage Ratio, where the lender looks mainly at the property's expected rental income rather than your personal income.

Across these foreign-buyer loans, you can typically expect to put roughly 25 to 40 percent down, and a US credit score, sometimes called a FICO score, is generally not required. Instead of US credit history, lenders usually look at your down payment, your proof of funds, and reference letters from your own banks abroad. Rates and terms differ by lender and program, so the practical next step is to compare a couple of options with a mortgage professional who works with foreign buyers.

What taxes will I pay?

As a foreign owner in Miami, expect a mix of yearly and one-time taxes. Annual property tax in Miami-Dade generally runs about 1 to 2 percent of the property's value each year. When you eventually sell, a federal rule called FIRPTA (the Foreign Investment in Real Property Tax Act) applies: the buyer normally withholds 15 percent of the sale price, or 10 percent when the price is between $300,000 and $1,000,000 and the buyer will use the home as a primary residence, and a primary-residence exemption may apply for sales under $300,000. FIRPTA is a withholding held against your final tax bill, not necessarily your final tax.

There is also estate tax to be aware of. For a non-resident owner, US federal estate tax can apply to US assets above only about $60,000, which is far lower than the exemption US residents receive. Because of this, some foreign buyers hold property through a structure such as an LLC (a limited liability company) to help manage that exposure. Whether that makes sense depends entirely on your personal situation and home-country rules, so it is a decision to make with a qualified tax professional rather than a rule of thumb.

How does closing work, and can I do it remotely?

Closing is the final step where ownership transfers to you and the keys are yours. For pre-construction, closing happens when the building is finished and ready to deliver, which is why it can be years after you first reserve. In the weeks before closing, the licensed team and, if you are financing, your lender prepare the paperwork, confirm the final numbers, and coordinate the transfer of funds. The closing itself is largely a document-signing and money-transfer process.

You can generally close remotely, without flying to Miami. Documents can be signed and notarized from your home country, and many foreign buyers use a power of attorney, a legal document that lets someone you trust sign specific closing papers on your behalf, to make a remote closing smooth. Timelines and the exact remote-closing steps vary by building and by whether a loan is involved, so confirm the specifics for your purchase with the licensed team well ahead of your delivery date.

What are the risks, and why use an independent advisor?

Pre-construction has real advantages, and it also has real risks worth naming plainly. Two stand out. First is developer or deposit risk: because your deposits help fund construction over several years, a delayed or troubled project can put your money and your timeline at stake, so who the developer is and how the contract protects your deposit matter a great deal. Second is floor-plan square-footage inflation, where the space advertised in a glossy brochure can be measured more generously than the space you actually receive, so it pays to read how square footage is defined.

This is where an independent advisor earns their place. A simple principle protects you: never visit a sales gallery without your own representation. The people in a developer's sales gallery work for the developer, not for you. Harry works on your side, helping you read the contract, ask the uncomfortable questions, and compare the promise against the paperwork before you commit, while Thuany Lauria's licensed team handles the reservation, contract and transaction. You keep an advocate who is looking out for your interests, at no added cost to you.

Does buying give me residency?

Buying a residence does not grant a visa, residency, or a green card. The EB-5 investor visa is a separate, much larger job-creating investment of roughly $800,000 to $1,050,000, which sits well above the entry price at The House of Wellness. In short, owning a Miami home and holding a US visa are two different things: a purchase gives you property, not immigration status, and no amount of real estate on its own changes where you are allowed to live.

If a path to US residency is one of your goals, treat it as its own project with its own advice. Immigration programs have their own rules, costs, and timelines, and they are decided by immigration law, not by a real estate contract. Harry can help you buy the right home and can connect you with a licensed immigration professional to explore residency separately, so your expectations are set correctly from the start.

Still have questions about buying pre-construction in Miami? That is exactly what Harry is here for. Send a message on WhatsApp or through the contact form, in English, Portuguese or Spanish, and Harry will answer personally, usually within one business day. No pressure and no cost to talk: just an honest conversation, at your pace, from someone on your side.

Ready to talk to Harry?

Talk to Harry Chat on WhatsApp Call +1 786 351 3180