#1 What does it take to buy a property in Florida?

The first step is to be in touch with a Realtor, that is, a qualified American realtor, so you can start looking for real estate in the market that will suit what you are looking for. Anyone can buy a property in the United States; Regardless of visa or special permit, the tourist visa is sufficient. You just need the necessary funds or pre-approved funding.


#2 What are the costs of buying a property?

The buyer of a property in Florida will usually have to pay a fee for the bookkeeping service of a property. It will also pay to write the deed and an administrative fee, that is, it revolves around $ 600.00.


#3 What are the advantages of buying a property on behalf of a legal entity?

The purchase of real estate in the name of legal entity offers numerous advantages, such as: benefits and facilities in deductions and income tax returns; Exemption from retention of 10% of the value (of sale) of the property when it is sold; The inheritance transfer tax, which can reach 50%, according to the value of the property is avoided; And, in general, reducing the risks of legal and legal actions directly to the owner.


#4 Can I finance the purchase of my property?

Yes you can. You will have to hire a loan officer or a mortgage broker who will work to get your US funding. Normally you will have to prove: income tax, reference letter of the bank (s), preferably in English (the letter should mention the name, address, opening date, current balance, others to add); Employer’s reference letter (preferably in English, mentioning name, address, date of employment, position, annual remuneration, bonuses and others that may be added). If you are an entrepreneur: letter of the English preference accountant, mentioning the nature of the business, name, address, start date, position held, annual billing and other documents you may add; Copy of the last 6 months of bank statement; Proof of residence (water or light bill); List of assets.

It is important to be aware that the documents described above may differ from bank (or financial entity) to bank. The property may be acquired either in the name of an individual or a legal entity.


#5 How much can I afford?

Generally, for foreigners, banks finance up to 70% of the value of the property, if this is a house. If it is an apartment, the maximum will be 65% of the total amount. It is worth mentioning that the bank will evaluate the value of the property in order to be able to release the financing. If the value of the transaction is greater than that assessed by the bank, that difference will have to be covered by the buyer who may or may not withdraw from the purchase.


#6 Will I have to file income tax in the US?

Yes, in case the property is generating income. The owner must declare the tax, because in this case there are capital gains. The good news is that expenses like insurance, IPTU, condominium and interest installment may be deducted in the statement.


# 7 What are the costs of bookkeeping for a property in Florida?

The State of Florida charges transmission taxes from the seller of the property and also from the buyer when the buyer finances part or all of his acquisition. In addition to these taxes, you usually incur costs along with the company or person who prepares the property transfer, plus property or deed insurance that is sometimes required.

So, are you ready to take the most important step? So talk to our team that we can assist you in all these steps!